CIDCO Leases Nerul Plot To Today Royal Developers For ₹177-Crore Premium
CIDCO leased a 5,785.78 sq m plot in Nerul's Sector 52A to Today Royal Developers for a one-time premium of Rs 177.04 crore.
The lease is for 60 years with an annual rent of Rs 100 and was registered on July 10, 2026.
The plot has a base FSI of 1.5 and is earmarked for mixed-use development comprising residential and commercial components.
Today Royal Developers paid stamp duty of Rs 7.96 crore alongside the lease premium.
The transaction reflects continued demand for strategically located land parcels in Navi Mumbai, driven by infrastructure connectivity and housing demand.
Story angle
Center-left
Mostly straight facts, with a light progressive or opposition-friendly tilt.
About how the story is framed, not whether the facts are true.
Free Press Journal
Center-left
Mixed factuality
Who owns this?
Free Press Journal
Indian Express lineage / Mumbai daily