The City and Industrial Development Corporation (CIDCO), has put as many as 16 land parcels in Navi Mumbai on the block. The proposed land parcels is spread over 12 acre and is expected to generate revenue of nearly Rs 1,000 crore.

The plots will be intended for both residential cum commercial use. These plots are located in the prime location near the NRI Complex in Nerul and APMC Market in Vashi.

Of the16 plots, the largest land parcel is spread over 6.21 acre across adjoining sectors 54, 56, and 58 in Nerul. The base rate for the land parcel is set at Rs 1.17 lakh per sq mtr and a reserve price of 294.97 crore. This plot is expected to fetch revenue of around Rs 500 crore.

In Nerul, the authority has offered four plots in Sector-19 and the size varies from 1,200 sq mtr to 3,000 sq mtr.

The remaining 15 plots are in Panvel, Kalamboli, Ghansoli, and Vashi localities. The area of the plot in Sector 18 of Vashi is 3,870 sq mtr and has a base price of Rs 1,36,627.

The plots can be developed with 1.1 to 1.5 FSI or permissible development on the plot.

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