Be carefull when you buy property from CIDCO, CIDCO has a habit of cheating/playing fraud on property buyers by manipulating the area. For example a 1000 sq feet carpet area 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 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 ugly/ Shady Deals of CIDCO include
Allotment of land under the 12.5% scheme to fictitious Companies,polictians.
Change of reservation of plots for commercial use
Railway Station Complex Scam The station complex Built By CIDCO at Nerul , Vashi, CBD. The commercial areas was sold in the open market as Built up arae=carpet area ( 95-150 ) % loading in 96-98 at higher rates. In the year 2004 The same commercial premises were sold as built up area= carpet area 30% Loading to friends and relatives and front men of the Mktg dept of CIDCO at a discounted price. Imagine built up area of two adjacent offices of same carpet area are different.
Extra FSI to CIDCO directors Housing Society Prathamesh society where the Directors of CIDCO was allotted prime property at throw Away prices .
But the pace at which the Cost of Purchasing a flat has gone up is far ahead of salary structures atleast in Mumbai sub urbs. Yes Investors will invest as investment for shorter period of time but most of common man will remain away from purchasing a house of there own
Re: Noida Ext vs Noida
by amit srivastav on Feb 07, 2011 12:10 PM
Planning to buy a flat in noida extn but not sure about correct time possession............