Home Real Estate News CIDCO approves NAINA infrastructure development plan

CIDCO approves NAINA infrastructure development plan

134
0

The City and Industrial Development Corporation (CIDCO) has authorized the main land pooling and reconstitution town arranging plan under the Navi Mumbai Airport Influence Notified Area (NAINA) blueprint. Under this plan, around 19.12 hectares from Akurli, Belavali and Chikle towns will be developed at first. CIDCO has additionally endorsed Rs 21 crore as the budget for further improvement of these towns.

The Development Plan for 23 towns was approved back in April 2017 and CIDCO had three Town Planning blueprints that covered 653 hectares under NAINA. The main plan has got approval and incorporates the three towns mentioned above. The second plan has already been submitted to the Director, Town Planning and the third plan is still in its conceptual stages. CIDCO is looking to create 70 kilometres of roads and 82 hectares of open spaces along with 30 hectares of greenery and 36 hectares for EWS housing projects. 110 hectares will be allotted for residential and commercial development according to reports.

Land pooling has been executed in these three towns and CIDCO has already come up with the required framework for infrastructural improvements including the development of major roads and streets, pathways, lighting, water pipelines and sewage systems. Every land owner incorporated into the plan will get 40% of the created value under the development plan. Mumbai’s infrastructural developments like these promise greater prospects for the real estate sector in the future as per reports. In fact, Navi Mumbai is witnessing a plethora of premium projects being built. Some of the popular ones include Arihant Arshiya at Khopoli, Akshar Emperia Garden at New Panvel and many others.

LEAVE A REPLY

Please enter your comment!
Please enter your name here