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December 22, 2024 1:04 PM

Commercial Property

Navi Mumbai Airport To Serve Passengers By 2020: Maharashtra CM

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NMIA
Read Time: 2 minutes

The Maharashtra Chief Minister Devendra Fadnavis has recently announced that the proposed Navi Mumbai Airport will start serving passengers by early or mid-2020. The announcement has been made in a global aviation summit held in Mumbai. Earlier the deadline for the airport was 2019 but it misses due to many constraints.

The foundation stone for the Phase-I of the airport project was laid down by PM Narendra Modi on February 18, 2018. The project was announced to be developed under public-private partnership (PPP) model by City and Industrial Development Corporation (CIDCO) and GVK group subsidiary Mumbai International Airport on DBFOT basis. The estimated cost of the project is 16,704 crore.

According to sources, the airport has got all the clearances from the Defence Ministry; however, delay in tendering process is hampering the whole work. “We are expecting that the tenders for the airport will float by this month or mid-February.” Sources added.

CIDCO MD Lokesh Chandra said, “Till date, 80% of the development work has been completed by CIDCO. A total of 10 villages will be affected due to the airport. Out of this, 4 have already been rehabilitated. Work on rest villages is on full swing. While talks with some other affected villages are in line as the villagers are stuck on compensation money.”

“The deadline for the special incentives schemes for the project-affected persons (PAPs) has also been extended where they were offered extra, Rs 500 [incentive per sq m] for construction of houses.” Chandra further added.

The Mumbai Airport has crossed its passengers limit and thus the need of Navi Mumbai Airport to start early is a must.

Nisha Shiwani hails from the pink city of Jaipur and is a prolific writer. She loves to write on Real Estate/Property, Automobiles, Education, Finance and about the latest developments in the Technology space.

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