Be carefull when you buy property from CIDCO, CIDCO has a habit of short changing buyers by manipulating the area. For example a 1000 sq feet carpet Module will be sold as 2000 sq feet in 1998 and as 1300 sq feet in 2004 all on the whims and fancies of the Marketing manager CIDCO.
Govt. of Maharashtra has floated CIDCO (City Industrial Development Corporation) A State Govt. undertaking which is the most Corrupt undertaking of the Govt.of Maharashtra. Instead of being a agency for providing housing to the middle and lower class at reasonable rates it encourages price escalation for the benefit of few builders and Bureaucrats.
Some of the Shady Deals of CIDCO include
Allotment of land under the 12.5% scheme to fictitious Companies
Change of reservation of plots for commercial use
Systematic Destruction Of mangroves and reclaiming land and blatant violation of CRZ Rules.
Railway Station Complex Scam The station complex Built By CIDCO at Nerul , Vashi, CBD. The commercial areas was sold in the open market as carpet area ( 95-150 ) % loading in 96-98 at much higher rates. In the year 2004 The same commercial premises were sold as carpet area 30% Loading to friends and relatives and front men Mktg dept of CIDCO at a discounted price. Imagine built up area of two adjacent offices of same area are different.
Extra FSI to CIDCO directors Housing Society Prathamesh society where the Directors of CIDCO and the PRO of CIDCO was allotted prime prope
