Thursday, August 17, 2017

Supreme Court grants greater land use flexibility to DIAL

New Delhi: Shares of GMR Infrastructure surged 13.41% on the Bombay Stock Exchange to close at Rs 18.60 on Thursday after the Supreme Court of India allowed Delhi International Airport (DIAL) to use airport land for commercial purposes.

The two airports – Mumbai and Delhi – will now have greater land use flexibility, allowing them to set up commercial complexes, hotels, business convention centres, etc, on 5% of the leased land earmarked for non-aeronautical purposes.

These can be used by the public too like the Delhi Airport Express Metro. Analysts said the order would allow private airport operators at Delhi and Mumbai to commercially use land for nonaviation related businesses too.

These airports were allowed to use the land around airports for aviation-related businesses only, but with this order, airports in Delhi and Mumbai can utilise the space for building shopping malls as well.
17/08/17 Samanwaya Rautray/Mihir Mishra/Economic Times