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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.

BidderBid/sq meterPlot
Bhagwati developers184111.11Plot no 3
Bhagwati developers171511.11Plot no 4
Greenscape shakti ventures165222Plot no 3
Bhagwati developers161611.11Plot no 5
Varun enterprises161000Plot no 5
varun enterprises151000Plot no 3
Platinum lifestyle133011Plot no 4
Platinum lifestyle127777Plot no 3
paradise126621Plot no 3
Paradise infra pvt ltd126621Plot no 4
Varun enterprises126000Plot no 4
(unknown)125000Plot no 5
Platinum lifestyle121789Plot no 5
Tricity realty pvt ltd112559Plot no 3
Trishul realtors111699.99Plot no 3
Tricity realty pvt ltd105121Plot no 4
Tharwani realty90001Plot no 5
Sadguru Infraprojects pvt ltd89991.99Plot no 4
Tharwani Realty85000Plot no 4
Tharwani Realt81000Plot no 3
Tharwani construction pvt ltd72000Plot no 5
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