NAVI MUMBAI, Aug. 22 -- The City and Industrial Development Corporation's (CIDCO) flagship housing scheme - My Preferred CIDCO Home - is set for a major price correction after sustained public protests and an imminent meeting with Maharashtra deputy chief minister Eknath Shinde, who is also the state urban development minister. CIDCO vice-chairperson and managing director, Vijay Singhal, said the corporation is "fully prepared to act" once the government issues a directive. "We are awaiting a meeting with the deputy chief minister, where the issue of prices will be discussed in detail. We expect a solution to emerge from that meeting," said Singhal. "We are committed to inclusive housing. Once the government gives its final nod, we will move swiftly to implement the revised pricing and conduct a lottery for it." CIDCO has defended its pricing model, citing location and infrastructure premiums. "CIDCO has constructed homes priced as low as Rs.25 lakh for the economically weaker sections," Singhal said. "The price of each unit depends on its location and connectivity. Homes at Kharghar, near metro stations or commercial hubs, naturally cost more. Even our highest-priced homes are below prevailing market rates, and the quality is better than private complexes with open space, parking and other amenities," he said. Launched under the Pradhan Mantri Awas Yojana (PMAY) in October last year, the scheme offered over 26,000 apartments across Navi Mumbai in nodes such as Vashi, Bamandongari, Kharkopar, Kharghar, Taloja, Mansarovar, Khandeshwar, Panvel and Kalamboli. Flats were categorised for Economically Weaker Sections (EWS) and Lower Income Groups (LIG), but the January 2025 price announcement stunned applicants: EWS homes were priced between Rs.25 lakh and Rs.48 lakh, while LIG homes ranged from Rs.34 lakh to Rs.97 lakh, excluding additional charges for floor rise, registration and stamp duty. Of the 1.5 lakh applicants, only 21,000 paid the booking sum. Nearly 8,000 were allotted flats in locations CIDCO had not even bother to notify, and over 4,000 homes remain unsold. Buyers say the scheme betrayed CIDCO's promise of affordability. Santosh Ahire, offered a flat in Kharkopar, said, "The pricing is not as per the Ready Reckoner rate. CIDCO is out to make a profit and burden the poor with loans." Rajaram P, who was allotted a flat in Vashi, said, "I had signed up for a house costing less than Rs.50 lakh but was given a Rs.74-lakh flat that will eventually cost Rs.86 lakh. How does CIDCO decide this?" Advocate Asmita Tevar, allotted a home in Vashi, questioned the very premise of the scheme: "If we could afford flats of up to Rs.1 crore, why would we wait for years for a CIDCO scheme? Developers purchase land at a high price, but CIDCO got it for peanuts in the '70s and has still priced its homes way above the affordable price of Rs.40 lakh." Protests had erupted across the city. Political leaders have joined the chorus. Forest Minister Ganesh Naik asked, "How can homes under PMAY be priced at Rs.75 lakh" while MNS Navi Mumbai chief Gajanan Kale demanded a 30% price cut....