6 years on, 508 AI staffers to get flats at Nerul

Mumbai: As many as 508 Air India (AI) employees will soon get their flats at Nerul in Navi Mumbai.
They had paid the initial installments in 2004 but could not get possession because of a dispute between the City and Industrial Development Corporation of Maharashtra Ltd (CIDCO) and their employer.
The Bombay High Court on Tuesday intervened in the matter and directed Air India to pay an additional Rs 60 crore sought by CIDCO towards the added premium for allotting the land to cooperative housing societies of the employees.
Air India will recover the amount from the employees.
CIDCO had allotted the plot measuring one lakh sq m to Air India in 1992 for constructing staff quarters in view of a proposed airport in Navi Mumbai. The national carrier has completed constructing 25 buildings of 508 flats on 28,626 sq m. But financial difficulties compelled the Air India management to reconsider development of the land.
01/07/10 Hindustan Times

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Categories: NACIL Jul 2010