Cidco has added Rs 298 crore to its earnings from the e-auction sale of four plots in Nerul near Palm Beach Road.
The sale of the fifth plot, with the biggest area of over 25,000sqm (over six acres), has been stayed by the National Green Tribunal (NGT) following protests by environmentalists as it partially falls within the CRZ.
“The four Nerul plots in Sector 19A have been sold to the highest bidders at quite high rates, ranging from Rs 3.27 lakh per sqm to Rs 3.85 lakh per sqm. The fifth plot sale, near NRI Complex, has been stayed by the court over environmental issues,” said developer Manohar Shroff, vice-president of the Navi Mumbai wing of the MCHI.
The rates ranged from Rs 3.2 lakh to 3.9 lakh per sqm.