Navi Mumbai housing prices to be reduced by CIDCO: Maha Deputy CM Shinde
On Saturday, the Legislative Council heard Deputy Chief Minister Eknath Shinde reveal that the state‑run City and Industrial Development Corporation (CIDCO) will slash the prices of its residential projects in Navi Mumbai by 10 %. The move is meant to lower the cost of ownership for residents and give more people a realistic chance of buying a home in the region.
Shinde clarified that CIDCO has already built roughly 17,000 homes throughout Navi Mumbai’s major hubs, including Kharghar, Vashi, Kharkopar, Taloja, Ulve, Kalamboli, Kamothe and Panvel. He said the allotment lottery for these units will finish within the next two months, and that the price cut is aimed at easing the load on buyers while expanding access to affordable homes.
The 10 % discount will apply to houses classified under the Economically Weaker Section (EWS) and Low Income Group (LIG) categories. Shinde linked the decision to Prime Minister Narendra Modi’s “Housing for All” pledge, emphasizing that it will help ordinary citizens secure decent, low‑cost housing.
In the same session, the Deputy Chief Minister also outlined plans to provide immediate accommodation for senior citizens and to build enough stock to meet that need. He highlighted a new policy that will deliver housing to vulnerable workers such as mill laborers, dabbawalas and Mathadis. To support this, the government will pool housing units from various schemes, targeting a planned and priority‑based distribution.
“The state will merge housing inventory from schemes like Development Control Regulation (DCR) 33(7), 33(9) and 33(12B) in Mumbai, along with state‑level initiatives such as Inclusive Housing and the Pradhan Mantri Awas Yojana (PMAY),” Shinde said.
Shinde also spoke about illegal encroachments on mangrove swaths, stressing the importance of protecting these ecosystems. He mentioned that the government is considering the issuance of green Transferable Development Rights (TDR) as part of its environmental safeguards.
Stay informed on all the latest news, real-time breaking news updates, and follow all the important headlines in world News on Latest NewsX. Follow us on social media Facebook, Twitter(X), Gettr and subscribe our Youtube Channel.
