by THO
The City and Industrial Development Corporation of Maharashtra’s (CIDCO) `Maha Nivas’ housing scheme for parliamentarians, legislatures, judges and bureaucrats has elicited a good response with 457 applications coming in for around 350 flats on offer along the much sought after Palm Beach road in Navi Mumbai.
Encouraged by the response, the nodal agency has extended the last date for applications and also invited proposals to appoint a consultant for the project.
CIDCO had started a demand registration scheme for the project in October this year with the interested applicants required to pay ₹1 lakh to qualify for a lottery draw to select successful allottees. The flats are being offered to MPs, MLAs, MLCs, Judges of Supreme Court and High Court, IAS and IPS officers.
It is offering the flats designed by renowned architect Hafeez Contractor, at half the market rate in the premium area of the city, where there are few flats available. These are slated to come up at plot number 20, sector 15A on Palm Beach Road, opposite the NMMC headquarters in CBD Belapur.
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The apartments with carpet areas of 1270 sqft and 1800 sqft are priced at ₹2.45 crore and ₹3.47 crore respectively, which works out to a rate of ₹19,500 per sqft. The market price of apartments in the area is ₹30,000-60,000 per sqft.
According to CIDCO Joint Managing Director (JMD) Kailash Shinde. “We have received a good response so far with 457 applications coming in and 393 applicants paying ₹1 lakh each so far.”
Informed Shinde, “We have extended the scheme twice with the latest extension till December 31 to allow more people to apply.”
With CIDCO getting good response to its demand registration call, it has invited proposals for appointment of a consultant.
CIDCO is looking for an architect for services of preparation of master plan, preliminary project report, project cost estimation, detailed architectural, engineering and services design including services like electrical, mechanical, plumbing and fire protection etc. The consultant will also seek all statutory approvals from competent authorities, including environmental clearance, tree plantation etc. for construction of the housing scheme.
Said a CIDCO official, “The consultancy period is of 36 months and the consultant will be chosen on quality and cost based selection.”
Added the official, “The EMD has been kept at a high ₹30 lakh. It is usually 1% of the total estimated cost and hence the consultancy charges would work out to an estimated ₹30 crore. However, it is unlikely to be that high with around ₹15 crore to ₹20 crore consultancy charges expected. The higher figure has been demanded to ensure only serious and top players apply.”
Commenting on the response, Vasant Bhadra, president of the Builders Association of Navi Mumbai said, “This was expected as not only is the project planned in the most premium area of the city where flats are simply not available, the pricing too is half of the market rate in the area.”
