CIDCO leases a plot in Navi Mumbai’s Nerul node to Today Royal Developers under a 60-year lease arrangement for a one-time premium of ₹177.04 crore, according to registration documents reviewed by CRE Matrix. The transaction involves Plot No. 3 in Sector 52A, Nerul, covering 5,785.78 square metres. The lease deed is registered on July 10, 2026, and grants the developer development rights from CIDCO for the duration of the lease.
In addition to the lease premium, the documents indicate stamp duty of ₹7.96 crore is paid. The lease rent is set at a nominal ₹100 annually. The plot has a base permissible Floor Space Index (FSI) of 1.5 and is earmarked for mixed-use development, combining residential and commercial components. The deal also reflects ongoing developer demand for strategically located land parcels in Navi Mumbai, where infrastructure connectivity and housing needs continue to support property activity.
