Navi mumbai international airport stalled by PAPs


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Navi mumbai international airport stalled by PAPs

  1. 1. ProjectsToday Navi Mumbai International Airport stalled by PAPs
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  3. 3. News Analysis
  4. 4. Navi Mumbai International Airport stalled by PAPs • The stalemate surrounding the Navi Mumbai International Airport project continues even after the recent attempts to kickstart the project. • The Navi Mumbai Airport project is being promoted by City and Industrial Development Corporation (CIDCO) and was envisaged in 1997 as an alternative to the existing Mumbai International Airport. The airport is expected to have an annual passenger carrying capacity of 10 million after completion of the first phase and a capacity of 60 million when fully completed. • On 13 November 2013, an agreement was reached between the state government and the PAPs. Accordingly, the PAPs accepted the compensation package, which offered 22.5 per cent of developed land for every ha of land acquired. It was decided that they would get one floor space index (FSI) for 12.5 per cent of developed land and 2.5 per cent FSI for another 10 per cent of developed land.
  5. 5. Navi Mumbai International Airport stalled by PAPs • • The PAPs would also get three times more land against the current residential plot they occupy, along with Rs 1,000 per sq ft as construction cost. The package also included 100 shares of Rs 10 to each PAP family in the new company that will be formed for undertaking the development of the airport, totalling two per cent of the equity in the company. Frustrated with the inordinate delays, the state government has proposed building the new airport on land reclaimed from the sea if landowners don’t accept the compensation package. The government has even engaged a Dutch firm, Netherlands Airport Consultants (Naco) for the feasibility study on building a 1,200 ha artificial island airport. • The island airport option is quite attractive as it will cost about Rs 3,000 crore to build and is expected to be completed in 18 months. • On the other hand, if a final agreement is reached between the PAPs in the coming days, then the greenfield airport project is expected to be awarded in March 2014.
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