A total of 400 applications for a housing scheme has been received by the City and Industrial Development Corporation (CIDCO) in Maharashtra.
CIDCO has proposed ‘Maha Nivas’ Housing scheme in Palm Beach, Navi Mumbai. This scheme will have houses for Members of Parliament, Legislators, Indian Administrative Service and Indian Police Service officials, judges and other top officials.
CIDCO is a city planning agency and the richest government authority in India, formed and controlled by the Government of Maharashtra.
In the proposed scheme, about 350 houses were to be constructed, with 3 BHK houses of 1150 sq ft and 4 BHK houses of 1600 sq ft. However, the final number of houses will be constructed considering the final number of demand.
Sources said that the registration scheme was open till November 30 and 400 applications were received. CIDCO has thus received Rs. 4 crore in application money, which was Rs. 1 lakh per application.
Meanwhile, CIDCO has a put a condition that the buyer will not be able to sell their apartment before three years after buying the property.
