Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
The City and Industrial Development Corporation (CIDCO) is spearheading one of India's largest public housing projects in Navi Mumbai under the Pradhan Mantri Awas Yojana (PMAY). Spread across 600 acres at 20 locations from Vashi to Taloja, the initiative aims to deliver 67,235 affordable housing units catering to economically weaker sections (EWS) and low-income groups (LIG). Prices for EWS flats start at INR 25 lakh, while LIG flats can reach over INR 97 lakh. Earlier this year, 5,000 units were sold, with keys handed over to several families. The project is expected to be completed in phases by the end of 2027.
Across the harbour in Navi Mumbai, where luxury developments in prime locations are commanding prices upwards of INR 30,000 per square foot, the affordable housing sector is witnessing significant growth. In what is considered one of the largest mass public housing initiatives in the country, the City and Industrial Development Corporation (CIDCO) is developing an extensive 67,235 residential units across various sites in Navi Mumbai. Advertisement
These homes, earmarked for the Economically Weaker Sections (EWS) and Low-Income Groups (LIG), are being constructed under the Pradhan Mantri Awas Yojana (PMAY). The townships are strategically located near key industrial hubs and transportation nodes, including bus terminals and railway stations. Spread across 20 locations from Vashi to Taloja, the project aims to address the housing demand in the region's growing urban landscape.
CIDCO officials explained that these tenements span a land parcel of 600 acres, with a total built-up area of approximately 2.5 crore square feet, distributed across 350 towers. The buildings range from nine to 24 storeys, with each floor housing eight flats, designed to accommodate a large number of families while maintaining open spaces and amenities.
Eligibility criteria stipulate that applicants with an annual household income of up to INR 6 lakh qualify for EWS flats, while those with incomes above INR 6 lakh fall into the LIG category. The EWS units comprise 1 BHK flats with a carpet area of around 322 square feet, priced at approximately INR 30 lakh. LIG flats are available in two configurations, offering carpet areas of 398 square feet and 540 square feet, catering to slightly higher income groups.
Nearly 40% of the township area has been allocated for open spaces, including landscaped gardens, children's play areas, community centres, and ample parking facilities, contributing to a well-planned living environment.
CIDCO's Managing Director, Vijay Singhal, stated that the corporation had recently conducted Maharashtra's largest housing lottery, covering 25,723 flats. Allotment letters have already been issued to 19,518 families. He further noted that close to 1.5 lakh people registered for the scheme, with 55,000 applicants having paid their deposits.
According to Singhal, the project is scheduled for phased completion by the end of 2027. Approximately 60% of the 67,235 flats are reserved for EWS applicants, while the remainder is designated for LIG buyers. Prices vary depending on location, starting at INR 25 lakh for EWS flats in Sector 28, Taloja, and exceeding INR 97 lakh for LIG flats in Sector 1, Kharghar, located near the railway station.
Officials reported that the project, which commenced in 2020, is now around 65% complete. An additional 15,000 flats are expected to be ready by the end of this year. Earlier in 2024, 5,000 units were successfully sold, and several hundred families have already taken possession of their new homes.
Under the PMAY scheme, eligible EWS buyers are entitled to a subsidy of INR 2.5 lakh, further enhancing the affordability of these housing units.
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
