CIDCO has undertaken the task to develop 400 lakh square meters into an ell-encompassing town near the Navi Mumbai airport.
City and Industrial Development Corporation of Maharashtra (CIDCO) has kicked off preparations to install an-all equipped, urban town near the Navi Mumbai airport. This project aims to develop a total of 400 lakh square meters of land into residential and commercial units, with schools, entertainment, hotels and hospitals.
Spread across 300 hectares over the southern scape of the upcoming airport, this aerocity will be complete with established financial services, such as banks and models of urban commute including well-designed roads, metro systems. As per the programme blueprints, an automated waste management system will also be set-up here.
Town Planning and Development to model an urban city
The land acquisition phase of the new city has successfully been completed and the pivotal construction work of the same has been divided into 4 phases. The segregation has been implemented to keep a track of economic utilisation of resources. In a statement, the CIDCO Vice-Chairperson highlighted that international consultants have been appointed to holistically develop the Navi Mumbai city model while ensuring the techno-economic feasibility, marketing assessment of the mission.
As per the development plans, the new Aerocity will be built to be on par with the international facilities of similar nature. This will not only set a benchmark in the country as an ideal specimen of development but also will boost the economy by virtue of its location near the airport, stated officials. The new project is being designed to honour the global floor space index, with the agenda of offering central command and control operations to manage all utilities. All utilities will be established here through tunnels to circumpass the ordeal of digging roads and a master plan, with attention to detail is being developed for the same.
Revenue Models of the Navi Mumbai Aerocity
While construction work of the aerocity is in the development pipeline, CIDCO is looking at several avenues to raise revenue for the project, on the lines of what has been adopted by the Delhi International Project. The agency has started to market its project to raise awareness about the facilities and technologies it is bringing into the state while ensuring that airport at Navi Mumbai and the new town will be developed simultaneously. This will capture the interest of the prospective investors and firms, raising the capital to complete the model.