CIDCO finalises Rs 35,000-crore plan for 'smart city' in Navi Mumbai

Dec 02, 2015, 21:53 IST | A Correspondent

The City and Industrial Development Corporation (CIDCO) on Wednesday said that it will develop seven nodes under the South region of Navi Mumbai by 2019 with an investment of approximately Rs 35,000 crores. The town-planning authority under its ‘Smart City Mission’ will develop seven nodes including Panvel, Kharghar, Ulwe, Dronagiri, Kalamboli, Kamothe and a Greenfield project Pushpak Nagar.

Over 8.7 lakh jobs are expected to be generated due to investment of close to Rs 50,000 crores in several infrastructure projects in the city including the Navi Mumbai Airport, JNPT expansion, metro, affordable housing, Navi Mumbai Airport Influence notified area (NAINA) project and national highway expansions. The projects will cover an area spread over 12,000 hectares.

CIDCO further said that under this project there are ten major building blocks, which will have 88 sub projects. Cost of all 88 projects of the smart city will be funded by CIDCO without any financial assistance from the state government, officials from the town-planning agency said on Wednesday.

As part of the seven nodes, CIDCO has also initiated a 'Greenfield smart city project' at Pushpak Nagar. Pushpak Nagar spread over 230 hectares is close to the proposed international airport. This project of Pushpak Nagar will cost around Rs 941 cores and will be completed by December 2018, CIDCO said.

Maharashtra Chief Minister Devendra Fadnavis will announce this project on December 4 at CIDCO exhibition centre in Vashi.

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