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CIDCO announces mass housing scheme in Kharghar sector 36

Mass housing scheme by CIDCO : Valley Shilp, Sector 36, Kharghar, Navi Mumbai

Brief Overview

Coming on the heels of its mass housing scheme in Ulwe,Cidco announced the launch of its mass housing scheme in Kharghar.This scheme will come up in sector 36 and comprise of 1224 flats in 2 fourteen storied towers.Unlike the mass housing scheme in Ulwe,which was for low income group,this one is for the high and middle income group.The price of the flats will be approx Rs 4000 per sq foot and pricing will be strictly on the carpet area.

Comparison with Private builders in vicinity

Its important to point out that private builders are charging between 5500 and 6000 per sq ft on the built up and sometimes even the super built up area! And what is the difference between carpet and super-built up area? Sometimes its as much as double the carpet area !!

Builders are known to sell a 700 sq ft carpet area as 1600 sq ft flat !!

IMPORTANT ANNOUNCEMENT:

CIDCO HAS STARTED DISTRIBUTION OF FORMS FOR THIS PROJECT ON 16 JAN 2014. THIS DISTRIBUTION WILL CONTINUE TILL FEBRUARY 5. FORMS CAN BE COLLECTED FROM THE GROUND FLOOR OF CIDCO OFFICE AT BELAPUR. THE FORMS COST APPROX RS:550 EACH.

Approx cost per sq ft is Rs 4500 per sq ft (on built up area)..which means the max cost of a 2 bhk  measuring 609 + 45 sq ft (carpet up area) is 59,00,000 ( 59 lakhs ) and a 3 bhk measuring 1024+58  sq ft (carpet area) will cost 1 cr 7 lakhs.

Private builders in the vicinity are selling pigeon-hole sized 2 bhks (measuring 525 sq ft carpet area) for min 70 lakhs and 3 bhks measuring 725 sq ft carpet area for 1 crore 5 lakhs !! …and that too along with black money and other illegal charges like car parking society formation, grill windows, development charges of approx 250 Rs per sq ft etc.

Eg. Nearby Tharwani Rosabella is selling 2 bhk’s measuring 520 sq ft carpet area for 86 lakhs and 3 bhks measuring 620 sq ft carpet area for 1cr 10 lakhs.

Next Phase of Valley Shilp will be the flats for Lower Income group (1 bhk’s and 1 Rk’s). Once these are put up for sale,the real estate market in Kharghar can expect a drastic crash.

Download brochure here

Sample Flat Pics

So basically a Private builder’s 3 bhk flat should sell for 28,00,000 in sector 36 kharghar ! Currently these flats are selling for 75,00,000 !!
This is an incredible price difference and a correction looks imminent !!

If CIDCO actually sticks with a price of 4000 per sq ft on carpet area,the whole real estate scenario in sector 36 will change !!

The application forms will be distributed in September 2012 and the construction has reached the plinth level.The complex will be equipped with state of the art ultra modern amenities.

Key Details of the project

  • Middle income group-802 flats- 611 sq ft per flat
  • High income group-422 flats- 1072 sq ft per flat
  • 52 offices and 108 shops.
  • Club house,jogging track,swimming pool
  • Back up generator
  • Parking on 1st and ground floor.
  • Automatic lifts.

This inventory of 1224 flats is sure to add to the selling pressure that the builders are facing in sector 36..since this project has all the ultra modern amenities.

We will be tracking this major development as it happens.
Stay tuned.

Further reference:http://www.mid-day.com/news/2012/jul/100712-mumbai-Over-1-100-dream-homes-up-for-grabs.htm


Mayur

Mayur is a real estate professional with more than 15 years of experience at all levels of the Real Estate trade in Navi Mumbai. When not involved in real estate, he is actively involved in social issues of the community where he lives. He can be reached on 9987452642

24 replies on “CIDCO announces mass housing scheme in Kharghar sector 36”

CIDCO had come up with a plan of introducing a Housing Scheme at Kharghar, Sector-36 which was suppose to be launched in the month of September,2012 (i.e current month). As of now there is no news mentioned by CIDCO or any reliable source regarding the launch of the mentioned scheme in these days.
I just want to know in case you have any idea regarding the dates of lauching the Kharghar, Sector- 36 housing scheme or has it got cancelled or postpone.

Thanks & Regards,
V K Jadhav

CIDCO had come up with a plan of introducing a Housing Scheme at Kharghar, Sector-36 which was suppose to be launched in the month of September,2012 (i.e current month). As of now there is no news mentioned by CIDCO or any reliable source regarding the launch of the mentioned scheme in these days.
I just want to know in case you have any idea regarding the dates of lauching the Kharghar, Sector- 36 housing scheme or has it got cancelled or postpone.

I am interested to buy property in kharghar sector 36, Can you please email me details of property. Thanks……………..

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