The City and Industrial Development Corporation (CIDCO), the planning authority for Navi Mumbai - a satellite city near Mumbai, has received bids worth Rs 678 crore through the e-auction of five plots measuring more than 33,000 square metres, said sources.
All the five plots are located in the Nerul node of Navi Mumbai and the highest quote of over Rs 118 crore was for a 3,069- square metre plot followed by Rs 380 crore for a 25,000 square metre plot.
This particular plot is located in the neighborhood of the plush NRI Seawoods Estates and the newly built water taxi jetty. However, environmentalists have opposed the auctioning of the plot claiming it to be in violation of Coastal Regulatory Zone (CRZ) norms.
Activist BN Kumar, director of NatConnect Foundation, pointed out that the National Green Tribunal (NGT) on August 22 ordered a stay on any transaction for the plot, adding that the plot is now the subject of a petition being heard by the NGT. Kumar added, "The issue here is CIDCO putting up a CRZ restricted plot for auction which we vehemently oppose. CIDCO cannot claim price on an area which does not belong to it."
Further, the other three plots that include a 2,029-square metre plot got quotations of over Rs 76 crore followed by over Rs 64 crore for a 1,889-square metre plot and Rs 40 crore for a 1,221-square metres plot in the Nerul node of Navi Mumbai.
Though the CIDCO might have got a good price for the land parcels, developers say that the quoted rates are unreasonably high.
Meanwhile, the CIDCO last week announced e-auction for 14 plots of over 23,000 square meters at a base price of over Rs 146 crore. The 14 plots are located in the Airoli, Kalamboli, Kamothe, Koparkhairane, and Panvel areas of Navi Mumbai. Of the 14 plots, as many as 10 are located in Panvel. The size of the plots ranges from 300 square meters to over 5,000 square meters.
