Click to play videoMumbai: Toiling through the afternoon, workers in Mumbai are building high-end apartments which could be your dream home at the Seawoods estate in Navi Mumbai.
And if these apartments are what you are eyeing, then you better be ready to raise the stakes, because much like the pricing of IPOs, the promoters have also decided to use the process of book building to arrive at the right price for these flats.
Vice chairman & MD, CIDCO, G S Gill says, "There is an anxiety to get the right price in the most transparent manner. And the book building process serves both the purposes."
In what could be the first ever book building for apartments, around 110 2 BHK apartments, 126 3 BHK apartments, eight duplex apartments and eight pent houses would be put up for bidding in a price band of Rs 5,200 per square foot to Rs 7,500 per square foot.
Those who bid the highest or closest to the highest bid will be allotted flats according to availability.
At the top end of the price band, a penthouse could set u back by over Rs 3.5 crore, but the good news is that these prices will not be affected by inflation.
"This is the price at which you have bought it and this is the price at which you will get it," says Gill.
The bidding will start on the December 7 and will last a month and final bidders have to pay in six installments before they can claim possession of the apartments by March 2010.
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