CIDCO Inks ₹177 Crore Land Lease for Mixed-Use Project in Nerul

In a significant land deal, Today Royal Developers has secured a 60-year lease for a 1.4-acre plot in Nerul’s Sector 52A from CIDCO. The transaction, officially registered on July 10, 2026, commanded a premium of ₹177.05 crore, complemented by a stamp duty payment of ₹7.97 crore. This prime land is earmarked for mixed-use projects, combining residential and commercial space under a base FSI of 1.5. By entering this leasehold agreement, the developer gains extensive usage rights while the land remains under CIDCO’s ownership, subject to standard regulatory compliance for the duration of the tenure.

News by Rahul Yelligetti.