Navi Mumbai: Plot sold for record Rs 554,000 per sq m

One of the 28 plots put up for sale by the City and Industrial Development Corporation (Cidco) raised a record-breaking Rs 554,000 per square metre, igniting Navi Mumbai's real estate market.

This was nearly five times Cidco's reserve base price of Rs 114,000 per square metre. According to Nauzer K Bharucha, the price for the land of about 1.3 hectares (5,526 square meters) located at Sector 20, Palm Beach Road, Sanpada is Rs 3.06 billion.

Dinesh Pasoria of DPVG Ventures was the successful bidder.

Nine stations along this new 14.95 km elevated extension.

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