Tag: Navi Mumbai International Airport

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Bombay HC: CIDCO’s 22.5% land return scheme is optional

In a landmark ruling that could have significant repercussions for land acquisition in Navi Mumbai and beyond, the Bombay High Court has determined that the City and Industrial Development Corporation’s (CIDCO) 22.5% developed land return scheme is optional, rather than mandatory for landowners. If landowners do not consent to the acquisition under this scheme, CIDCO or any authority seeking land for public use must adhere to the procedures outlined in the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement (LARR) Act, 2013, and Section 126 of the Maharashtra Regional and Town Planning (MRTP) Act. According to…

InfrastructureLatest Stories

PM Launches $2.2B Navi Mumbai Airport by Adani Group

NEW DELHI: Prime Minister Narendra Modi inaugurated a new international airport in Mumbai on Wednesday, advancing the growth of India’s rapidly expanding aviation network. Developed by the Adani Group at a cost of approximately $2.2 billion, the first phase of Navi Mumbai International Airport is set to start operations in December, serving as a significant passenger and cargo hub in Asia. This project will also alleviate congestion at Chhatrapati Shivaji Maharaj International Airport, one of the nation’s busiest airports. Notably, Mumbai is the only metropolitan area in India with a second international airport. This initiative highlights India’s commitment to modernizing…

InfrastructureLatest Stories

PM Launches Final Phase of Mumbai Metro Line 3

MUMBAI: On Wednesday, Prime Minister Narendra Modi officially launched the final segment of the Mumbai Metro Line-3, connecting Acharya Atre Chowk to Cuffe Parade—a pivotal development in the city’s infrastructure. The 10.99-km ‘Phase 2B’ is part of Mumbai’s first fully underground metro corridor, the Aqua Line, which spans a total length of 33.5 km, and will be fully operational from Thursday. The prime minister inaugurated this segment virtually from Navi Mumbai, where he also opened the Navi Mumbai International Airport. According to the Mumbai Metro Rail Corporation (MMRC), services across the complete underground corridor, stretching from Cuffe Parade in South…

InfrastructureLatest Stories

New City Plan in Development Near Navi Mumbai Airport

The City and Industrial Development Corporation (CIDCO), which oversees urban planning for the Maharashtra government, is anticipated to complete the master plan for the Navi Mumbai Aerocity development within the next three months, according to an official. The planned Aerocity, covering 667 acres adjacent to the Navi Mumbai International Airport (NMIA), will feature a mix of residential, commercial, retail, and industrial buildings. Its completion is expected to be a significant milestone for the urban and real estate landscape of the city. CIDCO is currently selecting a consultant to develop the master plan and provide advisory services for the project. In…

InfrastructureLatest Stories

Navi Mumbai Airport Opening Set for October 8

MUMBAI: The Navi Mumbai International Airport is set to open on October 8, as announced by Adani Group Chairman Gautam Adani on Wednesday. The airport recently received its aerodrome license from the Directorate General of Civil Aviation (DGCA) on Tuesday and is being developed in multiple phases by Navi Mumbai International Airport Ltd. The Adani Group holds a 74% stake, while the Maharashtra government’s CIDCO has the remaining 26%. “In preparation for the opening of Navi Mumbai International Airport on October 8, I had the honor of meeting with our diverse team, including construction workers, women staff, engineers, artisans, firefighters,…

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Four Nerul Cidco Plots Sold at ₹7.65 Lakh per Sq Metre

Representative image created by AI NAVI MUMBAI: Four Cidco tender plots in Nerul were sold to a developer on Thursday for an astonishing price of Rs 7.65 lakh per sq m. Real estate analysts suggest that the high price reflects the impending Navi Mumbai International Airport. However, activists express concern over the affordability of housing for working-class individuals, given the steep land prices. Parth Life Spaces, the winning bidder, will owe Cidco a total of Rs 1,500 crore for these four plots. Manohar Shroff, a partner at Shivam Builders, remarked: “The four adjacent plots in Nerul Sector 28, ranging from…