The Greater Mohali Area Development Authority (GMADA) is mulling over taking loan for raising the capital for acquiring additional 1,000 acres to provide the road connectivity to upcoming international airport at Chandigarh for which the cost has been estimated at Rs 1,500-crore. Besides land acquisition will also be carried out for the commercial exploitation along the proposed roads.
Talking to FE, chief administrator of GMADA Vivek Partap Singh said, ?Keeping in mind, the compensation of Rs 1.5 crore per acre paid earlier for acquiring 306 acres land. We are projecting that we will have to shell out Rs 1,500 crore for acquiring additional 1,000 acres land. We are thinking over availing loan for raising the capital. However, the commercial exploitation will help us to meet the acquisition expenditure, construction costs and for creating infrastructure in and around the airport complex?.
A no-objection certificate is awaited from the Mohali deputy commissioner which is required before issuing the acquisition notice for 1,000 acres.
The additional land will provide connectivity to airport from Sector 20 of Panchkula through Zirakpur and also from Mohali. A six-lane road from Chandigarh to the airport and an approach road have been planned from the Chhat village on the Patiala-Zirakpur highway. GMADA will also provide connectivity to a super expressway to connect Mohali international airport with Amritsar, by-passing Phagwara and Jalandhar planned by Punjab Infrastructure Development Board. (PIDB).
Sharing details of the international airport, special Secretary, civil aviation, Punjab, Raminder Singh said, ?The international airport at Mohali, SAS Nagar, bordering Chandigarh is expected to come up in two years. The move is on to form a joint venture to carry out the construction work shortly.
