India, Dec. 14 -- There is relief in store for homebuyers in Navi Mumbai, with deputy chief minister Eknath Shinde on Saturday announcing a flat 10% reduction in the prices of housing units built by the City and Industrial Development Corporation (CIDCO).

Making a statement in the Maharashtra Legislative Council, Shinde, who also holds the urban development and housing portfolios, said the price cut would apply across all CIDCO housing categories, a move aimed at making government-built homes more affordable for the common citizen.

Shinde informed the House that CIDCO has constructed around 17,000 homes across key Navi Mumbai nodes, including Kharghar, Vashi, Kharkopar, Taloja, Ulwe, Kalamboli, Kamothe and Panvel. The lottery process fo...