NAVI MUMBAI: After the Navi Mumbai (south) smart city project, the state-run City and Industrial Development Corporation (Cidco) plans to develop Khalapur into a smart city at a cost of Rs 7,909 crore, on the lines of the Navi Mumbai airport influence notified area (Naina).
Cidco will soon sign a memorandum of understanding with the panchayats and the gram panchayats of 11 villages that will form a special purpose vehicle (SPV), comprising land owners, who will voluntarily pool land for the development of the smart city on 3,559 hectares of land.
"The draft is ready and will be signed by the chief minister during the Make in India Week from February 13," Mohan Ninawe, Cidco senior public relations officer, told TOI.
According to the proposal, the Khalapur SPV will develop internal infrastructure at the cost of Rs 3,287 crore, while CIDCO will invest Rs 4,622 crore towards the infrastructure of the city and peripheral areas.
"In the voluntary land pooling pattern, the land owners will surrender 40% of their land for infrastructure development and use 60% for themselves," said Cidco sources.
The Khalapur SPV will contribute 40% land towards the project. Around 25% of the land will be utilized for physical and social infrastructure like roads, hospitals and educational institutes and 15% for growth centres. The remaining 60% land will be with the land owners.
"Cidco will provide the city and peripheral level infrastructures by utilizing 15% of the land for growth centres within 10 years in phases after the state approves the Khalapur Smart City Project Development Plan. Work on the project will start by 2017," said an official.
"Cidco will appoint a nodal officer and all clearances for the project will be routed through the officer for the development of infrastructural works," said Cidco MD Sanjay Bhatia.
Source: The Times of India