To extend the benefits of the Central Government’s Pradhan Mantri Awas Yojana Scheme that aims to provide housing for all by 2022, the City and Industrial Development Corporation (CIDCO) offers the CIDCO lottery scheme for the year 2020. Through this CIDCO housing scheme, affordable housing will be provided to citizens belonging to the economically weaker and lower income sections of society.
A total of 1.10 lakh homes will be built, of which 94,000 will be put up for the CIDCO new lottery scheme in Navi Mumbai at Bamandongri, Juinagar, Taloja, Panvel, Kharghar, Kalamboli, and Kharkopar regions. To get an apartment, it’s important to know the CIDCO online application procedure and how to check CIDCO lottery results.
Read on to know more about the CIDCO upcoming lottery scheme.
The City and Industrial Development Corporation of Maharashtra Ltd., (CIDCO), is an undertaking of the Government of Maharashtra, established on 17 March 1970. CIDCO aims to create well-planned, sustainable, and environmental-friendly settlements for both residential and commercial purposes. It prides itself as being the country’s premiere town planning agency.
In line with the PMAY scheme, CIDCO will be constructing about 1.10 lakh houses in select regions of Navi Mumbai. Of these 53,000 and 41,000 houses will be offered to the economically weaker and lower income group citizens, respectively, via the CIDCO lottery scheme 2020. The houses will be situated within 2kms of essential services, like railway networks and bus stations and, winners can pay the booking amount as the construction progresses.
The scheme provides affordable housing to the poor, who are divided into two categories depending on their monthly income. The categories are the Economically Weaker Section (EWS) and the Lower Income Group (LIG).
Under the CIDCO lottery scheme 2020, 94,000 houses will be allocated to the draw. Of these, a total of 53,000 houses are for eligible candidates belonging to the Economically Weaker Section (EWS) and 41,000 houses are for persons belonging to the Lower Income Group (LIG) category. The carpet area of the flats will be 25.81 sq.m and 29.82 sq.m for EWS and LIG beneficiaries, respectively.
For the eligible candidates from the EWS category, the house price is ~Rs.18 lakh. For eligible candidates from the LIG category, the house price is ~Rs.26 lakh.
To be eligible for the CIDCO lottery scheme, you must qualify either under the Economically Weaker Section (EWS) category or Lower Income Group (LIG) category. The Corporation has set guidelines to identify persons as per the two categories. They are as follows.
So far, CIDCO has not announced any commencement date for the CIDCO lottery in 2020. However, it is expected that they will announce the start of the lottery either in April or May, and the scheme will go on for at least 30 to 40 days.
Once you are eligible, you need to fill out the CIDCO application form online to register for the lottery. You can apply for the CIDCO lottery by following the steps given below.
The registration fee is Rs.5,000 for the EWS category and Rs.25,000 for the LIG category.
Along with your CIDCO application form you must submit the following documents.
To check if your CIDCO application has been accepted, follow the steps given below.
To check the CIDCO lottery result, follow these steps.
Now that you know everything about the CIDCO lottery scheme for 2020, ensure that you match the eligibility criteria before filling in the CIDCO application form to get a favourable CIDCO result for the 2020 lottery. In addition to qualifying for the CIDCO draw, having the right lender backing you is key to enjoying the benefits of affordable housing to the full. To that end, you should consider a lender that provides ample assistance alongside other value-added services.
For instance, on availing the Bajaj Housing Finance Limited Home Loan, you get access to a sanction of up to Rs.3.5 crore, at a competitive interest rate, which you can repay over a flexible tenor of up to 30 years. Moreover, on applying under the PMAY scheme, you get an interest subsidy of up to Rs.2.67 lakh, making the loan that much more affordable.
Additionally, you can benefit from Property Search services, through which you get in-person assistance for needs ranging from property identification to legal assistance. This not only helps you choose a house as per your budget and convenience, but also helps you select the right property. To get started today and prepare for the benefits of the CIDCO lottery scheme 2020, fill the online application form and a Bajaj Housing Finance Limited representative will get in touch with you soon.
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