Dedicated locality research platform
Dedicated locality research platform
Enter your email address and you will receive
a link to reset your password
The City and Industrial Development Corporation (CIDCO) has announced a substantial reduction of INR 6 lakh in the prices of tenements in its Bamandongri project, specifically targeting economically weaker sections. As part of the Mass Housing Scheme Diwali-2022 in the Ulwe node, the original price of the flats will be lowered from INR 35.30 lakh to INR 29.50 lakh, with further reductions for successful applicants from the EWS category. Chief Minister Eknath Shinde commended CIDCO for recognizing the financial challenges faced by EWS applicants and directed the reduction, providing significant relief to those aspiring to own homes in Navi Mumbai.
Under the Mass Housing Scheme Diwali-2022, CIDCO has taken a commendable step to address the financial constraints of economically weaker sections by implementing a substantial price reduction of INR 6 lakh for tenements in its Bamandongri project in the Ulwe node. The original price of the flats, set at INR 35.30 lakh, will now be revised to INR 29.50 lakh, reflecting a considerable discount aimed at facilitating affordable housing for the targeted demographic. This reduction in prices is a noteworthy initiative to align with the government's commitment to providing housing solutions for economically disadvantaged sections of society.
Successful applicants from the economically weaker sections (EWS) category will receive additional benefits, with the reduced price further lowered to INR 27 lakh after factoring in the INR 2.5 lakh subsidy available under the Pradhan Mantri Awas Yojana. Chief Minister Eknath Shinde acknowledged the challenges faced by EWS applicants in meeting financial requirements and directed CIDCO to implement the price reduction.
CIDCO launched the Mass Housing Scheme Diwali-2022 for EWS applicants on February 17, 2023, and after a computerized draw, 4869 applicants were selected as winners for the housing project in Bamandongri. Anil Diggikar, Vice Chairman and Managing Director of CIDCO, confirmed the decision to reduce the prices of tenements in compliance with Chief Minister Eknath Shinde's directives. This reduction is expected to fulfill the dreams of many successful applicants of owning homes in Navi Mumbai, contributing to the government's broader vision of affordable housing and inclusive urban development.
CIDCO has developed the housing scheme in the well-connected Ulwe node of Navi Mumbai, strategically catering to the aspirations of common citizens to own their homes. The letters of intent have been dispatched to successful applicants, marking the final stages of the document verification and issuance of allotment letters. This proactive approach ensures that successful applicants will soon take possession of their tenements, realizing their aspirations for homeownership in a well-connected and strategically located area of Navi Mumbai.
Propscience is India’s dedicated property news portal. We cover the latest events, news, trends, deals, new launches and more.
All our services and tools are completely free of cost and available 24X7!
