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CIDCO e-Auction Sees Record Bid of ₹383 Crore for Nerul Plot

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Nerul plot sold for Rs 383 crore in CIDCO e-auction, triggering worries over rising land prices in Navi Mumbai.

The E-Auction

Navi Mumbai’s real estate market hit a new high on July 30 as a 5006.5 sq. meter plot in Sector 28, Nerul, received a record bid of Rs 7.65 lakh per sq. meter during CIDCO’s e-auction. The plot, identified as 12C, was sold for a staggering Rs 383 crore, far exceeding its base price of Rs 3.26 lakh per sq. meter.

Parth Urban Spaces Ltd, a Ghansoli-based firm, emerged as the top bidder. The company also secured three additional plots in Sector 28—plots 12A (Rs 411 crore), 12B (Rs 366.9 crore), and 12D (Rs 334.8 crore)—bringing its total bid value to Rs 1,495 crore. All four plots come with a floor space index (FSI) of 1.5.

CIDCO officials confirmed this as the highest bid price received for Nerul plots to date. However, real estate developers have raised concerns over escalating land prices. Rajesh Prajapati, MD of Prajapati Developers, warned against market speculation, urging for price restraint to avoid burdening homebuyers.

Shivam Developers’ owner Manohar Shroff echoed similar sentiments, stating that while the location is prime, inflated land prices could eventually impact housing affordability.

Meanwhile, Akshar Globe won a 1097 sq. meter plot in Sector 13, Nerul, for Rs 36 crore, and Abhinandan Developers bagged two plots in Kharghar’s Sector 27 for Rs 137.7 crore and Rs 200.3 crore, respectively.

The auction covered 48 plots across Navi Mumbai for residential, commercial, bungalow, and service industry use.

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Morbe Dam Water Storage Crosses 60% Capacity Amid Sustained Monsoon Rains

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Bringing significant relief to the residents of Navi Mumbai, the water storage level in the Morbe Dam the primary drinking water source for the Navi Mumbai Municipal Corporation (NMMC) region has successfully crossed the 60% mark following continuous monsoon showers in its catchment area.

The reservoir’s water stock, which had plummeted to critical lows in early June, experienced a dramatic turnaround after receiving steady and heavy rainfall over recent weeks. Civic officials reported that the steady influx into the catchment zone, located in the foothills of Khalapur in the Raigad district, has significantly replenished the reservoir’s usable reserves.

With the dam’s capacity exceeding 60%, local civic authorities confirm that the immediate water supply outlook for the city has improved substantially, ensuring sufficient drinking water stock for the coming months. The NMMC continues to closely monitor daily rainfall patterns and water collection at the reservoir to maintain steady distribution across all municipal zones.

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Three Booked in Navi Mumbai for Routing ₹11.48 Crore Cyber Fraud Through Mule Accounts

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The Navi Mumbai Cyber Police have registered a case against three bank account holders for allegedly facilitating online cyber frauds by allowing their accounts to be used to route over Rs 11.48 crore.

According to police officials, the accused received and misappropriated a total of Rs 11,48,23,733 between November 12, 2025, and February 27, 2026. These funds were linked to various cyber fraud operations across the country, with the suspects serving as “mule” account holders individuals who rent or provide their bank accounts to fraudsters to layer and launder illegal proceeds in exchange for commission.

Following technical analysis and money trail tracking, police registered a First Information Report (FIR) on Monday under relevant sections of the Bharatiya Nyaya Sanhita (BNS), including Sections 318(4) (cheating), 317(2) (dishonestly receiving stolen property), and 3(5) (joint criminal liability).

No arrests have been made so far. Investigators are currently scrutinizing KYC documents, registered mobile numbers, and bank transaction details to identify the primary operatives behind the network and track down the account holders.

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Navi Mumbai Police Bust Inter-District Gang Targeting Senior Citizens Inside Housing Societies

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The Central Crime Branch of Navi Mumbai Police has busted an inter-district gang targeting elderly women inside housing societies to snatch gold chains and mangalsutras, arresting three suspects identified as Riyaz Ramzan Shaikh, Jamalbadshah Manirul Gazi, and Ashik Billa Gazi.

The police recovered stolen goods worth Rs 12 lakh from the trio, including 95 grams of gold ornaments and two motorcycles used in the commission of the crimes. The investigation was triggered by a chain-snatching incident in Khandeshwar on May 15, where CCTV footage clearly captured one of the suspects.

By matching the visuals with criminal databases, technical intelligence, and local informant tips, police traced the gang to Mira Road and Bihar. Investigations revealed that the gang specifically entered residential complexes to target senior citizens before escaping on stolen two-wheelers using familiar local shortcuts, which one suspect knew well from his prior employment in Kamothe.

To evade law enforcement, the culprits would quickly sell the stolen gold in the region and flee to their native villages in West Bengal and Bihar. With their arrest, the police have solved at least nine cases of theft and robbery across Navi Mumbai, Mira Road, and neighboring areas. The accused, who carry prior charges involving vehicle theft and drug trafficking, have been remanded to judicial custody as authorities work to curtail similar residential property crimes.

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