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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.

When Culture Costs Growth

Global business today is not limited by geography, capital, or capability. It is limited by interpretation. A founder recently shared an experience that quietly captures a much larger issue. While working with a business leader from the Netherlands, he realised how quickly intent can be misunderstood. Dutch professionals are known for their directness. Indian professionals, by contrast, value respect, nuance, and indirect communication. Neither approach is wrong. Yet when these worlds collide without context, friction follows. Conversations become strained, decisions slow down, and credibility begins to blur — not because of competence, but because of perception.


What makes this problem particularly dangerous is that it rarely announces itself. No one says, “I don’t trust you anymore.” Instead, calls become shorter. Emails turn formal. Opportunities stall without explanation. Founders often attribute this to market conditions or timing, unaware that the real issue lies elsewhere — in how they are being read, interpreted, and experienced.


This is not an international problem alone. Within India itself, business cultures shift dramatically from region to region. What signals confidence in one room may come across as arrogance in another. What feels respectful in one setting may appear indecisive in another. For founders operating across cities, states, and cultures, these subtleties compound. Over time, the gap between intent and impact widens.


Here is the uncomfortable truth most leaders are never told: growth today is as dependent on perception as it is on performance. And perception, left unmanaged, becomes a liability.


This is where personal branding moves out of the realm of visibility and into the realm of strategic necessity. Personal branding is not about posting more, speaking louder, or becoming a public personality. At its core, it is about consciously shaping how your values, decisions, and leadership style are understood — especially by people who do not share your cultural reference points.


Founders often assume their work speaks for itself. In earlier decades, it did. Today, work speaks, but interpretation decides. Without a clearly articulated personal brand, others are left to fill in the gaps themselves. And they do so using their own cultural lens, biases, and assumptions. This is how capable leaders are misunderstood, how strong businesses face invisible resistance, and how trust erodes without a single visible conflict.


A well-defined personal brand acts as a stabiliser in these moments. It provides context before confusion sets in. It allows people to understand not just what you do, but how you think, what you value, and how you make decisions. When this clarity exists, directness is not mistaken for rudeness, and politeness is not confused with lack of conviction. Conversations become cleaner. Alignment happens faster. Credibility holds firm even across borders.


The most significant shift occurs internally. Leaders with a clear personal brand stop second-guessing how they should show up. They communicate with confidence without overcompensating. They hold authority without appearing distant. Most importantly, they attract relationships that are aligned rather than transactional. This is not accidental; it is the result of intentional positioning.


The cost of ignoring this is subtle but cumulative. Deals that could have moved faster do not. Partnerships that seemed promising lose momentum. Teams hesitate instead of committing fully. None of this shows up on balance sheets immediately, which is why it is often dismissed. But over time, it defines the ceiling of growth.


Founders are particularly vulnerable here because they are too close to themselves. They know their intent, their ethics, their effort. Others only know what is visible. Personal branding bridges this gap — not by exaggerating, but by translating.


If you are a business leader navigating diverse teams, international clients, or culturally varied markets, and you sense that growth is slowing for reasons you cannot fully explain, this is worth examining. Not as a marketing exercise, but as a leadership one.


Sometimes, the most important work is not expanding into new markets, but ensuring you are being clearly understood in the ones you already occupy.


If this perspective resonates, I invite you to connect with me for a conversation. Not to sell, but to explore whether perception — not performance — might be the quiet variable influencing your next phase of growth. Clarity often begins with a single, honest conversation.


You can book a consultation here: https://sprect.com/pro/divyaaadvaani


(The author is a personal branding expert. She has clients from 14+ countries. Views personal.)

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