City and Industrial Development Corporation of Maharashtra (CIDCO) has sold a plot on Thursday through summons process in Sanpada at Rs 3.39 lakh per square meter, after this bidding CIDCO has set a new record.

Nivasti Developers LLP was the bidder. It proclaims the highest price Rs 3, 39,339 per square meter for 3,050-square meter for residential cum commercial plot in Sanpada at sector 13. The plot alone earns Rs 103 crore to CIDCO.

Among 20 developers some oppose for the plot consider that the plot could have earned more. They denote that the location of plot is one the well develop and best location in Navi Mumbai.

Haresh Chedda, the secretary of Builders’ Association of Navi Mumbai said that “The plot does not fall under the proposed international airport Zone and can be used for high-risers”.

CIDCO had called applications for the rent out of 4 residential and commercial plots in Nerul and Sanpada.

Nerul plot had received maximum price of Rs 2.82lakh per square meter in 2015. Shree Shawan Builders a city based developers had paid for 1601.78 square meter for both Residential and Commercial plot in Nerul in sector 44 A at Rs 2, 82,333 per square meter.

CIDCO swirl out Rs 319 crore through mandating of 4 plots, 2 of them plots are in Nerul and 2 in Sanpada. The other plot in Sanpada earns Rs 3, 07,555 per square meter.

Akshar Developers gained another plot in bid in Sanpada. Rs 3, 07,555 for 5,122 square meter at sector 13 in Sanpada.  A total 12 builders had struggle for the plot.

2 plots in Nerul were sold through bidding.  Nerul plots could not earn the price as it was habituated. The plot is at sector 13, the sizes of plots are 1,456 and 1,975 square meter. The prices for these plots were quoted Rs 1, 64,000 and Rs 1, 73,600 per square meter.

Dr Mohan Ninawe, senior public relationship officer of CIDCO said that “We have received a total 57 bidding for the four plots located in Nerul and Sanpada. CIDCO would receive Rs319 crore from leasing these plots.”