CIDCO inks 60-year lease for 1.4-acre land in Navi Mumbai's Nerul at ₹177 crore premium
The City and Industrial Development Corporation of Maharashtra Ltd (CIDCO) leased a 1.4-acre land parcel in Navi Mumbai's Nerul to Today Royal Developers for ₹177.05 crore. The lease, valid for 60 years, allows for mixed-use development with a base permissible Floor Space Index (FSI) of 1.5. The transaction, registered on July 10, 2026, includes a nominal annual lease rent of ₹100 and a stamp duty of ₹7.97 crore.