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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.

Thackeray wants freeze on ‘Bow-and-Arrow’

Mumbai: Shiv Sena (UBT) President Uddhav Thackeray has backed Senior Advocate Kapil Sibal’s suggestion that the rival Shiv Sena’s ‘Bow-and-Arrow’ election symbol be frozen immediately if the Supreme Court does not restore it to his faction - contending that it was ‘stolen’ by the breakaway faction led by Eknath Shinde, here on Tuesday.


Thackeray added - as the Supreme Court continues the final hearing in the matter – that the iconic symbol was usurped by ruling Mahayuti ally, Shiv Sena led by Shinde, and it was ‘misused to seize power’ – riding on the goodwill of the party launched by Balasaheb Thackeray 60 years ago.


“The matter is going on for so long in the courts… If the verdict is being delayed for any reasons, the ‘Bow-and-Arrow’ symbol should be immediately frozen,” declared Thackeray, supporting Sibal’s arguments in the court over the Election Commission of India (ECI) decision four years ago.


He added that there was actually no need at all for a prolonged legal battle on this. “The ECI is currently scrutinising our party constitution and other details. But consider how six registered unrecognised political parties (of Gujarat) turned out to be bogus recently, existing only on paper, yet having assets-donations of hundreds of crores of rupees. Is the ECI examining their constitutions, or is there any complicity,” Thackeray asked sharply.


It may be recalled that the SS (UBT) has strongly challenged the ECI’s decision to recognise the Shinde-led Shiv Sena as the ‘real’ one and allotting it the iconic party’s name and poll symbol of ‘Bow-and-Arrow’ in February 2023.


The two parties’ row returned to limelight again - four years after the (undivided) Shiv Sena split - and the ECI had temporarily frozen the ‘Bow-and-Arrow’ in October 2022, when both factions were barred from using the original party name and symbol pending adjudication.


Later, the Thackeray faction was allotted the ‘Flaming Torch’, while the Shinde faction retained not only the Shiv Sena name, the ‘Bow-and-Arrow’ symbol, but was also declared as the original party.


Hitting out at Shinde’s criticism that freezing the poll symbol would be akin to shelving Balasaheb Thackeray’s ideology into the cold storage, Thackeray said: “Let it pass… His (Shinde’s) mind is frozen.”


Referring to speculation in political circles that the Shinde party is working on an ‘Operation Tiger’ targeting the Ss (UBT), Thackeray took a swipe, saying: “Anyone who can perform an ‘operation on a tiger’ is yet to be born…!”


Festival Noise

Thackeray raised the prickly issue of the Mahayuti government’s handling of festival noise restrictions, the controversy over DJs in dahi-handi, Ganeshotsav and other fests, the leakages in public examination questions papers and reiterated support for the students movements in different parts including the Jantar Mantar in Delhi last month.


“The sanctity of all festivals must be maintained. They should not be reduced to a ‘cacophony’ with so much noise. What is the need for dance and song events? Does it fit into the concept of a ‘new Hindutva’? Who is responsible for the ban? The CM who holds the home portfolio, of the Police Commissioner of the BMC chief? They should hold discussions with all stake-holders, but are they actually talking to anyone,” the ex-CM wondered.

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