How Will The Launch of CIDCO Mass Housing Scheme in Navi Mumbai Impact Real Estate Market There?

Affordable Homes by CIDCO

The City and Industrial Development Corporation (CIDCO) has begun construction on a 5,730-unit mass housing development in Navi Mumbai's Taloja node, an official said recently.

Maharashtra Urban Development Minister Eknath Shinde said in a video message ahead of the recent opening that the CIDCO housing plan was gaining popularity owing to its high-quality construction, low pricing, and clear online processes.

Recently, online applications and registrations for the mass housing plan began.

According to authorities, the initiative has made 5,730 tenements accessible at the Taloja node for economically weaker sections (EWS) and general category individuals.

Of the 5,730 tenements, 1,524 are reserved for economically underprivileged sections under the Pradhan Mantri Awas Yojana, while the rest 4,206 are reserved for the general category. It was said that EWS candidates are entitled for a grant of Rs. 2.5 lakh.

This is actually excellent news for the Navi Mumbai real estate market, since it will provide a boost to the region's entire property market. Affordable housing in Navi Mumbai is unquestionably a need of the hour, with the majority of new projects in the city actually growing in price significantly.