In a major step toward fulfilling the dream of homeownership for the common man, the City and Industrial Development Corporation (CIDCO) is set to announce a lottery for 22,000 affordable houses by the end of June 2025. With soaring real estate prices in Navi Mumbai, CIDCO's housing schemes have become a beacon of hope for economically weaker sections and middle-income groups.
Currently, skyrocketing property rates have made even 1 BHK flats unaffordable, with prices reaching into crores. This has driven the public’s focus toward CIDCO’s affordable housing projects, which offer homes at significantly subsidized rates.
The final decision regarding the 2025 lottery is expected to be taken in a CIDCO board of directors meeting scheduled for today, Wednesday. Of the 22,000 homes, 16,000 will be carried forward from CIDCO’s earlier 26,000-home scheme, which did not receive the expected response. However, approximately 10,000 beneficiaries had paid the first installment, which CIDCO officials consider a positive outcome.
This year’s housing lottery will include homes located in:
Vashi
Juinagar
Kharghar
Taloja
Dronagiri
The application process is expected to begin by the end of June. CIDCO is preparing to ensure the online application system is smooth and user-friendly, allowing maximum participation.
In a parallel move to address Mumbai’s housing shortage, the Maharashtra Housing and Area Development Authority (MHADA) is planning to announce a lottery for approximately 5,000 houses before Diwali. The broader state-wide target is to construct 19,497 homes in the next year, with 5,199 of them in Mumbai.
The upcoming lotteries from CIDCO and MHADA represent a significant opportunity for ordinary citizens to secure a home in major urban centers. As the application dates draw near, aspiring homeowners are advised to keep documents and eligibility criteria in order.