CIDCO Cancels Allotment of 16 Navi Mumbai Plots Worth ₹2,000 Crore: Top 5 Reasons Explained

CIDCO Cancels 16 Navi Mumbai Plots Worth ₹2,000 Crore: 5 Reasons Explained
City and Industrial Development Corporation (CIDCO), the Special Planning Authority (SPA) for Navi Mumbai, has cancelled the allotment of 16 high-value plots approximated at ₹2,000 crore. The move, as reported by the Hindustan Times, is against developers and buyers who did not build on these plots, in spite of repeated extensions of time and official notices.

These plots of land, which were initially earmarked for residential and commercial purposes, are now taken over by CIDCO due to the lack of activity on any construction activity. The following are the five key takeaways from CIDCO’s recent action:

1. Reason for Cancellation
The Navi Mumbai Disposal of Lands (Amendment) Regulations, 2008, provide for CIDCO to lease land by auction for commercial, retail, and residential purposes. Each lease is accompanied by a definite schedule for construction and an mandatory occupation certificate date. Despite amnesty schemes and several official notices, the allottees of 16 plots failed to initiate or complete construction. Therefore, CIDCO was forced to cancel the allotments in order to use the land effectively.

2. Cancelled Plot Situations
Navi Mumbai plots are situated in some of the most strategic and rapidly developing nodes of Navi Mumbai—Airoli, Nerul, Belapur, Kharghar, and Dronagiri.These plots are becoming increasingly prominent with the emergence of the impending Navi Mumbai International Airport (NMIA) that will serve to enhance real estate activity as well as infrastructure growth in the area.

3. Plot sizes and values
Combined, the 16 cancelled plots cover an area of more than 62,000 square meters, or around 6.60 lakh square feet. CIDCO officials put their combined value at around ₹2,000 crore, which makes this one of the biggest repossession actions in recent times.

4. Further Cancellations on the Cards
CIDCO has said that this is only the beginning. The authority is looking at other leased plots where construction has not yet begun. “More cancellations and re-auctions will be done in the next few months,” a CIDCO official told the Hindustan Times, underlining the agency’s determination to enforcing development norms and releasing land value.
5. Present Land Prices in Navi Mumbai
According to real estate brokers, prices of land in prime Navi Mumbai locations like Kharghar vary between ₹25,000 and ₹30,000 per sq ft. It should be noted, however, that the majority of land in Navi Mumbai is not freehold but is leased from CIDCO, with extremely rare freehold options found in the open market.

In another indication of ongoing developer interest in Navi Mumbai, Godrej Properties Ltd (GPL) has signed a March 2025 ₹717 crore 60-year lease of a 6.54-acre plot at Kharghar. The high-value deal is another indication of the real estate potential of the region, particularly as projects like NMIA come within reach.

CIDCO’s clampdown is seen as an attempt to speed up development in key nodes and squeeze maximum use from prime urban space. To builders and investors, it is a warning: no delay in building will be tolerated.