Airport Authority of India may soon get an approval for commercial use of its landbank, reports CNBC-TV18's Rituparna Bhuyan. citing sources in the government. An empowered group of ministers panel on aviation headed by Finance Minister Pranab Mukherjee is likely to consider a proposal on March 18, said sources.
AAI holds 45,000 acres of land across India. Sources added that the landbank can be used for non-aeroautical purposes including for use in sports i.e. golf courses, business parks, leisure facilities, arcades, shopping complexes, and convention halls.
The attorney general of India has supported the proposal and said that there are no legal problems envisaged in the change to land use by AAI. Sources added that the commercial use of the land will bridge revenue gap for Airport Authority of India.
Guidelines on use of the land are expected to be put out in six months of approval, which will be framed by the Finance Ministry, Planning Commission and Aviation Ministry, sources said.
16/03/11 Moneycontrol.com
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