Cidco has decided to develop an integrated residential township covering 69 acres of land in Airoli, Navi Mumbai. Plot number 20 in Sector 10A will be awarded to the successful bidder who offers the highest revenue share percentage to Cidco. The construction and development will span over 20 years.
Project Details and Timeline
The state government has approved the 'Theme based and Iconic City Development' to facilitate the development of bulk parcels through a construction and development operator agreement. Cidco's request for proposal (RFP) has been open since May 11. Interested bidders can attend a pre-bid meeting with Cidco officials on May 25 to address any queries. The marketing manager (commercial) has floated the tender under a revenue-sharing model.
Connectivity Boost for Airoli
Airoli is set to receive a new link road connecting Thane with the Mumbai Metropolitan Region Development Authority (MMRDA), which has given its green signal. The road, featuring a bridge over the creek, will join near a top IT company. This development is expected to further improve connectivity and fuel regional growth.
Additionally, the Airoli-Katai Naka high-speed corridor work is progressing rapidly. The node already hosts numerous IT companies on either side of the Thane-Belapur road. The upcoming township will further stimulate growth by providing more flats to meet residential demand.
Market and Community Response
The Cidco announcement has sparked optimism in the property market. Real estate sector player Nitin Dighe commented, "This is the first such mass housing project on offer by Cidco in the node. The project will deliver more houses, hopefully at affordable prices, to meet market needs against the costly high-rises. The infrastructure will further get a boost."
Local activist Surendra Gowda said, "The area is close to Mulund also. Presently, there are row houses and some buildings around the Cidco proposed site."
Many residents have expressed happiness over the rising demand for the node and its growth prospects. The integrated township is expected to address the need for affordable housing while enhancing the overall infrastructure in Airoli.
