Airport on the anvil, bids for Navi Mumbai plots take flight

navi-mumbai-airportWith the Centre seen waiving the 150-km rule and certain environment regulations to allow a new airport in Navi Mumbai, bids for residential-cum-commercial plots in Kharghar have through the roof.

Builder Bhagwati Group bid Rs 1.84 lakh per sq mtr – the highest price quoted so far for a Kharghar plot. That translates to Rs 74.5 cr per acre.

The group also emerged the highest bidder for two other plots as well quoting Rs 1.71 lakh per sq mtr and Rs 1.61 lakhs per sq mtr respectively.

“One of the key projects coming up is the Navi Mumbai International Airport which has crossed all hurdles. Areas like Kharghar, Ulwe, Dronagiri and Panvel will witness not only rapid development, but escalation of prices in a demand-driven market,” said Rajesh Prajapati, managing director of Navi Mumbai-based Prajapati Group.

Last month, the government selected four bidders for the Navi Mumbai airport — GMR Airports, Mumbai International Airport (MIAL), Zurich Airport & Voluptas Developers (Hiranadani group) and MIA Infrastructure, a consortium of VINCI Airports International SA and Tata Realty.

The Union Environment Ministry, headed by Prakash Javadekar, also agreed to a state government proposal that the developer of the airport should not be forced to create alternate mangrove forest in lieu of the acreage that will be destroyed in the process of construction.

Bidder Bid/sq meter Plot
Bhagwati developers 184111.11 Plot no 3
Bhagwati developers 171511.11 Plot no 4
Greenscape shakti ventures 165222 Plot no 3
Bhagwati developers 161611.11 Plot no 5
Varun enterprises 161000 Plot no 5
varun enterprises 151000 Plot no 3
Platinum lifestyle 133011 Plot no 4
Platinum lifestyle 127777 Plot no 3
paradise 126621 Plot no 3
Paradise infra pvt ltd 126621 Plot no 4
Varun enterprises 126000 Plot no 4
(unknown) 125000 Plot no 5
Platinum lifestyle 121789 Plot no 5
Tricity realty pvt ltd 112559 Plot no 3
Trishul realtors 111699.99 Plot no 3
Tricity realty pvt ltd 105121 Plot no 4
Tharwani realty 90001 Plot no 5
Sadguru Infraprojects pvt ltd 89991.99 Plot no 4
Tharwani Realty 85000 Plot no 4
Tharwani Realt 81000 Plot no 3
Tharwani construction pvt ltd 72000 Plot no 5