Cidco’s board has cleared the decks for the development of a business district in Kharghar in Navi Mumbai, on the lines of the existing Bandra Kurla Complex (BKC), a senior official said on Wednesday.
Sanjay Bhatia, vice-chairman and managing director, Cidco, said that the authority will be holding a competition for the design of the yet to be named project. “We should be able to finalise the design in the next six months,” Bhatia said.
The new structure, known as BKC-II for now, will be spread over 125 hectares of land, and will have proximity to a 80 hectare central park and a golf course. Bhatia said that while an FSI of 3 is expected to be available for the development of the corporate hub, Cidco is seeking for a higher FSI for the business district. As for the actual development, Bhatia said Cidco will follow the same process of land auction as is followed in BKC. “Perhaps to begin with, we will give preference to public sector undertakings in the auctions,” he said.
Bhatia said that the proximity to the international airport and the upcoming Navi Mumbai metro project is expected to fetch interest from corporates to set up shop in the new hub.