Tuesday, July 20, 2021

Navi Mumbai International Airport construction will help boost Indian economy: Bhupendra Shah

The greenfield Navi Mumbai International Airport (NMIA) being constructed at an estimated cost of Rs 16,700 crore will boost the economy of India that is competing with the likes of the US and China in the global arena. It is not simply an infrastructure project meant for Navi Mumbai, says Bhupendra Shah, chairman and managing director of Bhumiraj group, one of Navi Mumbai’s leading developers.

The proposed airport project that is spread over 1,160 ha is coming up in Ulwe Kopar-Panvel region. Along with Chhatrapati Shivaji Maharaj International Airport in Mumbai, it will be the second international airport in Mumbai Metropolitan Region. With domestic and international cargo terminals, NMIA will be a part of the country’s first multi-airport system.

Shah, who is also the Chairman Trustee Board of Builders Association of Navi Mumbai (BANM), said, “The proposed airport is actually not Navi Mumbai requirement but that of Mumbai.”

He explained, “It has actually reduced land by as much as 7,200 acres here. Height-related issued have led to several projects being stuck for the past 15 years. The airport project was first conceptualised in the mid-90s. We are now in 2021 and the airport is nowhere in sight. Development has stopped in the region around the airport area.”

On the project effect so far, Shah said, “The announcement of the project years back has boosted sentiments in the region. Land prices have appreciated manifold up from Rs 10,000/sq m to over Rs 2.5 lakh/sq m due to such sentiments.”

Appreciating CIDCO on its rehabilitation package for persons affected due to the airport construction, Shah said, “CIDCO has not given a single rupee to the project affected persons, but offered 22.5% of development land to them along with a number of other benefits. This is a good move. CIDCO has come up with an excellent plan which is the best in the country.”

On the benefits of the project, Shah said, “The project will bring along with it employment on a large scale. There will be huge direct job opportunities at the airport itself. There are also a number of airport-related industries and services that will come as the project picks up.”

He added, “International hotel chains and restaurants will come along with shipping companies, clearing and forwarding agents, couriers etc. The hospitality industry will generate over 50,000 jobs, the courier companies over 40,000 jobs and so on.”

20/07/21 Animesh Kumar/Print

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