Mumbai: GVK-led Mumbai International Airport Limited (MIAL)'s realty plans have hit a roadblock - the interim airport modernisation plan approved by the Maharashtra government excludes slum pockets on 204 acres from planning and development. This could hit the airport's modernisation, as earlier, it was thought revenue from real estate development would be a source of funds for the project.
The plan to resettle 80,000 slums on the airport-owned land is also in jeopardy, owing to lack of a clear rehabilitation policy, as well as a dispute between MIAL and developer Housing Development and Infrastructure Limited (HDIL). MIAL has terminated its contract with HDIL, alleging the developer failed to meet the 2011 deadline for slum clearance and settlement. MIAL had planned to use the vacated land for both aeronautical, as well as non-aeronautical purposes.
However, HDIL hasn't accepted the termination notice. It had claimed the notice has "unsubstantiated charges" and said it would contest MIAL's decision.
15/06/13 Aneesh Phadnis & Raghavendra Kamat/Business Standard
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The plan to resettle 80,000 slums on the airport-owned land is also in jeopardy, owing to lack of a clear rehabilitation policy, as well as a dispute between MIAL and developer Housing Development and Infrastructure Limited (HDIL). MIAL has terminated its contract with HDIL, alleging the developer failed to meet the 2011 deadline for slum clearance and settlement. MIAL had planned to use the vacated land for both aeronautical, as well as non-aeronautical purposes.
However, HDIL hasn't accepted the termination notice. It had claimed the notice has "unsubstantiated charges" and said it would contest MIAL's decision.
15/06/13 Aneesh Phadnis & Raghavendra Kamat/Business Standard
