Mumbai: Cidco accused of selling housing project flats at market rates
Real estate developers and buyers in Navi Mumbai has accused town planning body Cidco – City and Industrial Development Corporation – of selling housing project flats at market rates.
With Cidco set to launch its latest housing project in Kharghar on July 22, builders and buyers have alleged that the cost at which the corporation is offering flats is at par with the cost of flats built by private developers.
Since the flat rates being quoted by Cidco apparently putting off potential buyers from purchasing Cidco flats, one of the disgruntled prospective buyers said: “The claim that Cidco helps people buy their first homes is an eye-wash.”
The accusations levelled against Cidco are quite serious, particularly in the wake of the fact that the town planning body divides the potential buyers of its flats in two categories — economically weaker section (EWS) and Low Income Group (LIG).
Going by the criteria for qualification of potential buyers under the two brackets, the maximum monthly income of a prospective buyer for a flat under the EWS scheme should not be more than Rs 16,000; while the stipulation for the LIG scheme is that a prospective flat buyer’s monthly income should be between Rs 16,001 and Rs 40,000.
Source - The Times of India
CIDCO, CIDCO Mumbai, CIDCO Navi Mumbai, City and Industrial Development Corporation of Maharashtra (CIDCO), Low income groups, Low income groups (LIG)
