Rs 350-cr relief in Navi Mumbai airport project

Mumbai: Even as the Ministry of Environment and Forests has to clear the new international airport in Navi Mumbai, the City and Industrial Development Corporation (Cidco), the township and industrial infrastructure arm of the Maharashtra government, has proposed a Rs 350-crore rehabilitation package for about 4,000 families affected by the project.
The package, which is to be taken up for discussion at Cidco’s board meeting on June 23, envisages provisions like allotment of preferential equity shares to the extent of 100 shares at face value of Rs 10 in the proposed special purpose vehicle, Navi Mumbai International Airport.
Other provisions include developed land equivalent to the actual loss plus 50 sq mt, subject to a maximum 100 sq mt, an additional land of 10 sq mt to every nuclear family, and financial assistance to the tune of Rs 10,000 towards the transportation cost for shifting.
Cidco sources told Business Standard that the affected families had been offered to purchase additional land at 250 per cent of the reserved price, subject to the extent of equivalent balance landholding or 150 sq mt, whichever is less. However, the total area would not exceed 200 sq mt.
19/06/10 Sanjay Jog/Business Standard

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Categories: Airports Jun 2010, New Jun 2010