CIDCO to e-auction 182 plots in Navi Mumbai

The City and Industrial Development Corporation of Maharashtra (CIDCO) has announced an e-auction of 182 residential plots in in Navi Mumbai, in Ghansoli, Nerul, Kharghar, Kalamboli and New Panvel, on a leasehold basis. The online registration started on June 22 and will end on July 13, 2021, while the auction will be conducted on July 16, 2021. Here is everything you need to know about this upcoming auction in Navi Mumbai.

CIDCO e-auction: Important dates

Eligibility to apply for CIDCO plots

• Any individual competent under the Indian Contract Act, 1872.
• Any company incorporated under the Indian Companies Act, 1956.
• Any partnership firm that is registered under the Indian Partnership Act, 1932.
• Any limited liability partnership.
• Any public trust registered under the Public Trust Act, 1950.
• Any cooperative society that is registered under the Maharashtra Cooperative Societies Act, 1960.

CIDCO e-auction: Plot details

The plots will have an FSI of 1.1. The applicants would need to submit the earnest money deposit, which is 10% of the offset price.

How to apply for CIDCO e-auction

Step 1: Visit the CIDCO E-Auction platform and register, by clicking on ‘Bidder Registration’. For this, you need to mention your name, address, contact details, PAN number, Aadhaar number and bank account number with the IFSC code.

Step 2: Login with your user details and verify your contact details through OTP.

Step 3: Once logged in, you will be able to see live auctions. Select any live tender from the dashboard.

Step 4: Now, pay the processing fee of Rs 1,000 and the applicable GST, along with EMD amount through online mode.

Step 5: Submit the closed bid (e-tender). A closed bid means the best price or offer amount offered by the bidder, in advance. The bidder needs to participate in the e-auction. However, if the bidder does not participate in the e-auction, the closed bid (e-tender) will be considered as the final offer.

Step 6: The e-auction will be conducted as per the scheduled time. During the e-auction every bidder can bid in multiples of Rs 1,000 per sq metre only.

Step 7: After completion of the process, the highest e-auction bid amount will be declared as the successful bidder.

Also read all about CIDCO Lottery 2021

Refund of EMD

Once the process of e-auction is completed and approved by the authority, the EMD amount received from bidders other than the highest bidder will be refunded to the bank details provided by the bidder during registration. In case the number of bidders is less than three, the EMD refund may take extra time in such a situation.

Important things to know

• The successful bidder must take possession of the plot within 30 days after completing all payments.
• The bid offered by the bidder will not include other cost components, such as GST, municipal taxes, insurance premium, stamp duty and registration charges, lease rent, security deposit for any infrastructural facility, water distribution or betterment charges.
• The user will not be allowed to change the use of the plot.
• The responsibility of getting clearances or no-objection certificates from various agencies, for any type of construction, rests with the allottee.
• The bidder cannot withdraw the bid for three months from the date of receipt of offer by the Corporation. If withdrawn, the EMD amount will be forfeited.

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