CIDCO Slashes Prices by Rs 6 Lakh on Mass Housing Scheme Diwali 2022; Applicants to Avail Homes at Rs 27 Lakhs Under PMAY

The City and Industrial Development Corporation (CIDCO) has reduced the price of the Mass Housing Scheme Diwali 2022 by Rs 6 lakh. Now the successful applicants will get tenements at approximately Rs.27 lakhs after the benefit of subsidy under Prime Minister Awas Yojana (PMAY). CIDCO launched the Mass Housing Scheme Diwali - 2022 for applicants from the EWS category in the Ulwe node. On February 17, 2023, the computerized draw for the scheme was conducted and a total of 4869 applicants were selected as winners for the housing project in Bamandongari in Ulwe node. 

The original price for houses under EWS was Rs 35 lakh. However, many of the applicants from the EWS category faced difficulties in getting a loan as they did not have the salary to get loans up to Rs 25 lakh or above.  They approached CIDCO, and even local political outfits staged protests. The CIDCO sent a proposal to the state government regarding the reduction of prices. Finally, the chief minister, Eknath Shinde, directed CIDCO to reduce prices of tenements at Bamandongari under CIDCO Mass Housing Scheme Diwali - 2022 have been reduced by 6 lakhs.

"As per the directives given by Chief Minister Shinde, CIDCO has decided to reduce the prices of tenements at Bamandongri, Ulwe, Navi Mumbai under its Mass Housing Scheme Diwali- 2022 by Rs. 6 lakhs. Due to this, the tenement with the original price of Rs. 35.30 lakh will now be available at the price of Rs. 29.50 lakh and after the benefit of subsidy of Rs. 2.5 lakhs available under PMAY for the economically weaker section (EWS), the tenement will be available at the price of only Rs. 27 lakhs to the successful applicants," said a CIDCO official.
"According to the directives given by Chief Minister Shri Eknath Shinde, it has been decided to reduce the price of tenements by Rs. 6 lakhs at Bamandongari under CIDCO Mass Housing Scheme Diwali – 2022. It will be a great relief for the successful applicants of the scheme and their dream of buying a home in Navi Mumbai will come true," sias Anil Diggika, Vice Chairman and Managing Director, CIDCO.

CIDCO has developed the housing scheme in the well-connected Ulwe node of Navi Mumbai and through this scheme the dream of common citizens to have a righteous house has been fulfilled. The letters of intent have been sent to the successful applicants and the process of verification of the documents submitted by the applicants and issuing the allotment letters is at the final stage. This will enable the successful applicants to get possession of the tenements soon.