India, July 16 -- The City and Industrial Development Corporation of Maharashtra Ltd (CIDCO) has leased a 1.4-acre land parcel in Navi Mumbai's Nerul to real estate firm Today Royal Developers for a one-time lease premium of Rs.177.05 crore, according to property registration documents reviewed by CRE Matrix.

The land parcel, located in Sector 52A, Nerul, measures 5,785.78 sq metres and has been leased for a 60-year tenure. The transaction was registered on July 10, 2026, with the developer paying Rs.7.97 crore in stamp duty.

According to the documents, the plot has been earmarked for mixed-use development, permitting both residential and commercial construction, and carries a base permissible Floor Space Index (FSI) of 1.5.

Based on t...