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By:

Bhalchandra Chorghade

11 August 2025 at 7:24:18 pm

CIDCO struggles to find takers for its homes

Mumbai: The City and Industrial Development Corporation’s (CIDCO) latest housing scheme has exposed a recurring challenge for the planning authority: finding buyers for its large housing inventory despite its affordable-housing focus. The August 2026 scheme offered 4,793 homes in Taloja, Kharghar and Kalamboli and received 4,180 confirmed applications before bookings closed on September 3. While CIDCO described the response as strong, 613 homes—nearly 13 per cent of the inventory—had no...

CIDCO struggles to find takers for its homes

Mumbai: The City and Industrial Development Corporation’s (CIDCO) latest housing scheme has exposed a recurring challenge for the planning authority: finding buyers for its large housing inventory despite its affordable-housing focus. The August 2026 scheme offered 4,793 homes in Taloja, Kharghar and Kalamboli and received 4,180 confirmed applications before bookings closed on September 3. While CIDCO described the response as strong, 613 homes—nearly 13 per cent of the inventory—had no confirmed applicant. This follows earlier schemes with similar gaps. In January 2025, CIDCO’s ‘My Preferred Home’ scheme, offering around 26,000 homes across Navi Mumbai, attracted 1.36 lakh initial applications. However, only about 55,000 applicants paid the registration fee and around 22,000 deposited the required earnest money, leaving serious participation below the number of homes offered. A CAG-linked report on two CIDCO housing schemes in Kharghar found that, of 4,814 saleable tenements, allotment letters had been issued to 3,733 applicants and possession handed over to 3,317. Four years after the draw, 1,081 tenements remained unsold. CIDCO has also faced scrutiny over marketing expenditure. In 2023, reports questioned the appointment of private agencies to market and allot PMAY homes, stating that the agencies had received advances of more than Rs 100 crore before sales took place. CIDCO officials said external support was necessary given the scale of the programme. The scale of investment adds to the concern. CIDCO’s mass-housing programme envisaged 68,515 homes at an estimated cost of around Rs 15,300 crore. A 2024 report noted that thousands of completed homes were awaiting sale, locking up capital and increasing the authority’s financial burden. The latest homes are located in Taloja Sector 39, Kalamboli Bus Depot and Kharghar Bus Depot. Taloja accounts for 4,229 homes, followed by 257 in Kalamboli and 293 in Kharghar. Indicative prices range from around Rs 23.50 lakh in Taloja to Rs 37.70 lakh in Kalamboli and Rs 43.50 lakh in Kharghar. The figures point to a possible mismatch between what CIDCO considers affordable and what its target buyers can finance. Industry experts have noted that EWS homes priced at Rs 25 lakh or more may be difficult for households within the prescribed income ceiling, particularly after registration, stamp duty, floor-rise charges and other costs. Location may also influence demand. Taloja has seen rapid development and improved connectivity, including metro access, but buyers continue to weigh its distance from established employment centres and social infrastructure, as well as commuting costs. CIDCO maintains that its housing programme meets a genuine need in Navi Mumbai. Ashwin Mudgal, Vice Chairman and Managing Director, CIDCO, said, “The overwhelming response to the housing scheme reflects the aspirations of citizens to own a home in Navi Mumbai and their continued confidence in CIDCO’s planned development initiatives. CIDCO remains committed to providing affordable and quality housing opportunities in well-planned locations, enabling citizens to benefit from the region’s growing infrastructure and connectivity.” The authority has also highlighted the Pradhan Mantri Awas Yojana-Urban (PMAY-U) subsidy, under which eligible beneficiaries can receive Rs 2.5 lakh, subject to applicable guidelines and eligibility criteria. However, the repeated unsold inventory suggests that CIDCO’s challenge extends beyond construction. Pricing, apartment configurations, location, payment flexibility and connectivity may need to be reassessed before further public resources are committed.

How Safe Are Ships and Shipping?

Updated: Oct 22, 2024

Ships and Shipping

On 26th March 2024, a 9900 TEU (twenty-foot equivalent unit) container ship DALI, sailing with 21 Indian crew, allided with the Baltimore Bridge, causing significant structural damage to the 1972 built Francis Scott Key (FSK) Bridge.


The collapse of the bridge tragically resulted in the loss of six workers who fell into the river while on duty. This disaster has also severely disrupted Baltimore’s port operations, cargo movement, businesses, and social life.


While the ship owner and ship management company managing the vessel DALI have claimed for limiting their liability to about US$ 43 million as per an 1851 act, however, two US Congressmen are sponsoring a bill, “Justice for Victims of Foreign Vessels Act,” to increase the liability for foreign-flagged ships up to 10 times the value of the ship. If passed, the law would apply retroactively from 25th March 2024, which is a day before DALI’s allision with the bridge.


What went wrong with vessel DALI and what caused the incident is still under investigation by NTSB (US Marine Investigation Agency) and the FBI. The initial reports suggest a failure of the ship’s propulsion machinery to restart promptly from a state of blackout. 


 DALI’s incident should be seen as the last straw that broke the camel’s back regarding the outdated and strained ISM Code (International Safety Management Code), the bible of the shipping industry. “Established in 1998 by the IMO (International Maritime Organization), the 26-year-old code is not in sync with the 21st-century complexities of the shipping industry. The ship owner controls the operational expenses but cleverly shifts the responsibility for the vessel’s safe management and operation to a ship management company. It is like the ship owner who owns a gun, but the license is in the name of the ship management company. Thus, by using the shoulder of the ship management company, the ship owner fires the budgetary cuts, at the cost of the safety of the crew, vessel, and cargo. This practice has flourished over the past 20 to 25 years due to intense competition in the ship management industry. Furthermore, by transferring the management and operation of the vessel to a ship management company, the ship owner absolves themselves of responsibility due to a lack of privity or knowledge.


In the past centuries, ships sank more because of nature’s fury; however, in the 21st century, more ships are floundering due to ‘depleting management system standards and practices’ under a flawed ISM code.


Indian ship owners, such as SCI and Great Eastern predominantly, spend quality resources and money to manage the operation of their vessels. In the charter market, ship owners may struggle as those who transfer their vessels to ship management companies incur lower operational costs, often compromising ship safety and crew welfare. This highlights the need for the DG of Shipping (India) to propose these changes that create a level playing field.


1. Shipowners must appoint a  Designation Owners representative (DOR) to monitor vessel activities, ensuring owner accountability for safety and operations.

2. The Chief Engineer must be given the authority to stop a vessel from sailing or divert it for urgent safety repairs.


Shipowners must be aware of the vessel’s condition, including any machinery or equipment issues.

Charterers must be notified if the vessel is in poor condition and requires urgent repairs. Seafarer contracts should be limited to six months to improve performance and well-being. Shipping companies must annually assess how much they have benefitted from implementing quality and safety practices.


 The deadline for filing claims in U.S. courts for the DALI incident was September 24. Various parties, including the Maryland state government, the city mayor, and affected individuals, have filed claims, along with the insurance company covering the bridge for $300 million. However, the estimated cost of a new bridge exceeds $2 billion, and it may take years to resolve these claims, with neither side likely to receive everything requested. If regulators fail to address the shortcomings of the ISM code and ignore the lessons from the DALI incident, the shipping industry will bear the greatest cost, sacrificing ‘safer ships and cleaner oceans.


(The author is a Marine and Shipping Consultant. Views personal)

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