affordable homes
Img source : commonfloor

In a recent development, the City and Industrial Development Corporation (CIDCO) has proposed to develop more than one lakh affordable housing units under the Pradhan Mantri Awas Yojana (PMAY) in Sanpada, Navi Mumbai.

Giving more information on the above, Lokesh Chandra, Managing Director, CIDCO said, “Keeping in mind the increasing demand of affordable homes in the city, the authority has planned to construct 1.09 lakh affordable homes. Moreover, there are huge land parcels available in Sanpada, making it an ideal location for the construction of affordable housing units.”

He also informed that another reason for choosing this market to develop affordable homes is its smooth connectivity to other areas and closeness to suburban railway stations.

Till date, CIDCO has already constructed nearly 1.1 lakh affordable homes in the whole area and with this, the number will now increase to 2.2 lakhs.

In recent years, the demand for affordable homes in Navi Mumbai has witnessed a huge jump due to which the authority has planned to develop more such units across its cities.

A day back, CIDCO has revealed that on the auspicious occasion of Ganesh Chaturthi, they are going to announce a new lottery scheme for 10,000 affordable homes in Navi Mumbai for the prospective homebuyers. Under this scheme, around 8000 flats have already been registered by MahaRERA. The work on remaining flats is underway and once registered, they will be incorporated in the scheme too. The tentative price of these flats will be between 22-26 lakhs.