)
The Centre has granted the much-awaited Phase-I clearance and wildlife clearance for the proposed Navi Mumbai international airport. "The ministry of environment and forests last week accorded Phase-I clearance. The Phase-II forest clearance would be given after necessary fulfilment by the City and Industrial Development Corporation (Cidco) with regard to the plantation of trees. Besides, the ministry has also given wild life clearance," a Cidco official told Business Standard.
The project has so far received environment clearance and a crucial nod from the defence ministry. But, the state-run Cidco is yet to complete negotiations with the project affected persons (PAPs) who are stuck to their demand for the allotment of 35 per cent developed land. Cidco has yet to acquire 475 hectare required for the project.s
According to Cidco's recent internal paper, the project cost, which was envisaged at Rs 4,766 crore way back in 1998 to handle 40 million passengers annually, has risen substantially to around Rs 14,573 crore as on date to handle 60 million passengers annually. The rise has been as high as 305.8 per cent.
Also Read
Even though the PAPs have dropped their initial demand of compensation of Rs 20 crore per acre, they are stuck on getting 35 per cent of the developed land.
Cidco has estimated that the market value of the 22.5% developed land will be worth Rs 18 crore per hectare in 2017 against the present value of Rs 15 lakh per hectare.Besides, Cidco will develop a world class city for PAPs adjacent to the airport.
