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The City and Industrial Development Corporation (CIDCO) has initiated a significant step towards boosting economic activity in Navi Mumbai's Ulwe node. With the announcement of a scheme for the sale of 243 shops in the Bamandongari housing complex, CIDCO aims to provide a platform for small and medium businesses to thrive.
The decision to sell these establishments comes as Ulwe rapidly urbanizes and transforms into a thriving residential and commercial area. Ulwe is conveniently located near well-connected transit networks, including the Bamandongari station on the Nerul-Uran suburban railway corridor, making it accessible to both commuters and shoppers. Furthermore, with the Mumbai Trans Harbour Link (MTHL), also known as Atal Setu, in close proximity, the area's accessibility has improved even further, bringing up new opportunities for business growth and expansion.
Vijay Singhal, CIDCO's Vice Chairman and Managing Director, stressed the importance of this plan for local entrepreneurs. He urged entrepreneurs to exploit the opportunity given by the existence of these stores, recognizing their potential to stimulate economic growth and job creation in the region. Singhal's call to action demonstrates CIDCO's dedication to fostering the entrepreneurial spirit and promoting economic growth in Navi Mumbai.
The scheme for the sale of stores in the Bamandongari housing complex is being carried out through an e-tendering and e-auction process. Interested parties can participate in the auction by registering online at eauction.cidcoindia.com. The entire procedure, from registration to result declaration, is digital, ensuring speed and accessibility for all parties.
The choice to sell these stores through a transparent online procedure is consistent with CIDCO's objective of using technology to streamline operations and increase stakeholder participation. CIDCO is setting a trend in the real estate industry by embracing digital transaction platforms.
Businesses have plenty of time to examine this option and participate in the auction because the registration process for the sale of stores runs until April 13. CIDCO's commitment to promoting the growth of small and medium-sized businesses demonstrates its role as an economic development catalyst in Navi Mumbai and elsewhere.
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