India, Aug. 15 -- The City and Industrial Development Corporation (CIDCO) has floated a Rs.610 crore construction tender for Maha Nivas, a premium residential project in Navi Mumbai, exclusively reserved for the state's top elected representatives and public officials. Located along Palm Beach Road in the Central Business District (CBD) of Belapur, the luxury housing apartments are designed by renowned architect Hafeez Contractor, a prominent architect.

As per CIDCO officials, Maha Nivas is set to have around 350 flat-3 BHK (bedroom, hall, kitchen) units of 1270sq.ft priced at Rs.2.45 crore and 4 BHK units of 1800sq.ft priced at Rs.3.47 crore. The flats are being offered at Rs.19,500 per sq.ft, nearly half the current market rate of Rs.3...