Be carefull when you buy property from CIDCO, CIDCO has a habit of cheating/playing farud on buyers by manipulating the area. For example a 1000 sq feet carpet Module will be sold as 2000 sq feet in 1998 and as 1300 sq feet in 2004 all on the whims and fancies of the CIDCO.
Govt. of Maharashtra has floated CIDCO (City Industrial Development Corporation) A State Govt. undertaking which is the most Corrupt undertaking of the Govt.of Maharashtra. Instead of being a agency for providing housing to the middle and lower class at reasonable rates it encourages price escalation for the benefit of few builders and Bureaucrats.
Some of the Shady Deals of CIDCO include
Allotment of land under the 12.5% scheme to fictitious Companies
Change of reservation of plots for commercial use
Systematic Destruction Of mangroves and reclaiming land and blatant violation of CRZ Rules.
Railway Station Complex Scam The station complex Built By CIDCO at Nerul , Vashi, CBD. The commercial areas was sold in the open market as carpet area ( 95-150 ) % loading in 96-98 at much higher rates. In the year 2004 The same commercial premises were sold as carpet area 30% Loading to friends and relatives and front men Mktg dept of CIDCO at a discounted price. Imagine built up area of two adjacent offices of same area are different.
Extra FSI to CIDCO directors Housing Society Prathamesh society where the Directors of CIDCO was allotted prime property at throw Away prices .
Once the new airport comes up at panvel, the Panvel-Raigad region will experience a massive real estate boom. Upcoming projects - Reliance Township at Lodhivali near panvel. Hiranandani palace Gardens, Marathom mega-city project, Evershine Group 1200 acres residential project at Khopoli near Khopoli indl estate, Magic Hills villas for NRIs, state of the art film sytudios at Karjat, middle income mass housing at Dronagiri and Ulwe. I expect navi Mumbai real estate to touch West Mumbai real estate price by 2020
what is the govt. going to earn thru this SEZ development..all the profits and revenues to the private parties...and in govt. revenue share--just NOTHING..how will this project help the non-SEZ population.This is just like creating new NAWABS with their own rule in their vatans. Please think about it---ours is a democracy and the Govt. is also committed to social welfare. Can these profits be equitably shared????
If anyone can dare to think so big in India,it is undoubtedly the Ambani's.Mumbai is a place of dreams and only Ambani's have the guts and courage to dream of a new modern Mumbai.Any fool would also be like to be a part of or associated to this development and I am no exception.Hail Ambani's,hail India,they have done India proud.
Isnt it great to make a New City with the same name but the meaning of maha Mumbai is more like greater Mumbai. And thats great because greater Mumbai is now divided in two parts Mumbai suburban and Mumbai town. This is like The satellite towns in Delhi NCR like Dwarka, Rohini, and Noida- Gurgaon.
