Who will develop Navi Mumbai airport?
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Adani Airports
Maharashtra government-controlled CIDCO is Adani Airports’ partner in development of NMIA. The project has missed so many deadlines that it is impossible to take a new one seriously. The project was conceived in November 1997. That makes the airport over 23 years in the making.
Navi Mumbai International Airport will be capable of handling ten million passengers a year upon completion of the first phase. The facilities at the airport will include cargo terminal buildings and two parallel runways for independent operations.
Will property price increase in Navi Mumbai?
It is possible property prices in Navi Mumbai will also rise again during the April-July season of 2021, thereby ending a property market lockdown. In other words, it’s very likely property rates will stay low for the next few months and then go back up to previous levels by July as the business returns to normalcy.
What is the status of Navi Mumbai International Airport?
Current status of Navi Mumbai International Airport Much—not all—of the land for the airport has been acquired. The airport is being developed on a public-private partnership basis between government agency CIDCO and GVK-Mumbai International Airport Limited (MIAL). MIAL will hold 74\% stake in the project; the rest is with CIDCO.
CIDCO is the nodal government agency for the project which will be built through public–private partnership (PPP) on a design, build, finance, operate and transfer (DBFOT) basis. The airport covers an area of 1,160 hectares (4.5 sq mi). The Navi Mumbai International Airport is expected to be operational in 2023.
Who is the owner of Mumbai International Airport?
The airport is being developed on a public-private partnership basis between government agency CIDCO and GVK-Mumbai International Airport Limited (MIAL). MIAL will hold 74\% stake in the project; the rest is with CIDCO. GVK MIAL itself is a consortium led by GVK with Airports Authority of India as the minority stakeholder.
Which is the Second International Airport in Mumbai?
Navi Mumbai International Airport. It will be the second international airport for the Mumbai Metropolitan Region, functioning alongside Chhatrapati Shivaji Maharaj International Airport (CSIA) as India’s first urban multi-airport system. The first phase of the airport will be able to handle 10 million passengers per annum…