NAVI MUMBAI: Three plots in Kharghar and two in Ulwe fetched Cidco Rs 260 crore when bids were opened on Tuesday.
Market sources said the quotes were high compared to the reserve price. They expressed surprise that builders bid astronomical rates at a time when the real estate market in Navi Mumbai is slack.
In Kharghar, Cidco had set a reserve price of Rs 30,000 per sq m but the bids were several times higher. For instance, in sector 23, an 8,800 sq m received the highest bid of Rs 1.7 lakh per sq m (Rs 151 crore) for the residential-cum-commercial plot. The winning bid was by a local construction company, Bhagwati Group.
Another plot in Kharghar’s sector 2, received the highest bid of Rs 1.05 lakh a sq m for the 1,148 m plot. It works out to Rs 12 crore for the residential plot and was won by a local builder, Keystone Developers.
To read more please visit - indianrealtynews.comhttp://www.indianrealtynews.com/category/real-estate-india/mumbai/
Market sources said the quotes were high compared to the reserve price. They expressed surprise that builders bid astronomical rates at a time when the real estate market in Navi Mumbai is slack.
In Kharghar, Cidco had set a reserve price of Rs 30,000 per sq m but the bids were several times higher. For instance, in sector 23, an 8,800 sq m received the highest bid of Rs 1.7 lakh per sq m (Rs 151 crore) for the residential-cum-commercial plot. The winning bid was by a local construction company, Bhagwati Group.
Another plot in Kharghar’s sector 2, received the highest bid of Rs 1.05 lakh a sq m for the 1,148 m plot. It works out to Rs 12 crore for the residential plot and was won by a local builder, Keystone Developers.
To read more please visit - indianrealtynews.comhttp://www.indianrealtynews.com/category/real-estate-india/mumbai/
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