Although the pricing of CIDCO’s ongoing housing project at sector 36 in Kharghar was to be made public by June, the date has been pushed further. If reliable sources from Navi Mumbai’s development authority are to be believed, housing prices would be out around Ganeshotsav this year, a propitious occasion to make purchasing decisions for most people.
Apartments in the higher income group (HIG) are going to have a 3BHK configuration, while the middle income group (MIG) a 2BHK one. On June 25, CIDCO managing director Sanjay Bhatia was seen visiting the project site for the first time. Said a source from CIDCO, “He gave a lot of suggestions in order to make the homes look even better.
He also raised concerns over traffic flow around the area, which is dotted by shops and offices. CIDCO is expected to incorporate all his suggestions into the project.” About the delay in finalising prices, he said, “The pricing is expected to be out by Ganpati festival this year as it’s believed to be an auspicious time for people to invest in any kind of property. Buyers may not be keen on investing around this time, what with the month of Shravan (July 23-Aug 21) in the offing.”
There is said to be another reason for the hold-up. “Previously the plan was to construct 1,118 flats. It was later revised to 1,224 flats, with 422 HIG and 802 MIG homes. This is also a reason for the delay, considering that the revised construction cost needs to be worked out now, instead of what was planned earlier,” the CIDCO official said.
Also, there are 108 offices and 42 shops in addition to the apartments. The construction of the flats, which began in November 2011, is expected to be ready by May 2014. Besides HIG and MIG homes, 968 homes have been proposed for the economically weaker sections (EWS) while 2,622 flats for the lower income group (LIG) of IBHK configuration.