Adani Group planning 140-acre integrated township in Navi Mumbai

By: | Published: July 13, 2018 4:59 AM

Ahmedabad-based Adani Group is planning to construct an integrated township spread over approximately 140 acres in the upcoming Navi Mumbai Influence Notified Area (NAINA) in Navi Mumbai.

Adani Group, NAINA, VPPL, CIDCO, MCHI, Wadhwa Group, Mumbai Trans Harbour Link, Navi Mumbai MetroAccording to sources, the application has been made in the name of Valuable Properties (VPPL), a special purpose vehicle (SPV) constituted for constructing the township. (Reuters)

Ahmedabad-based Adani Group is planning to construct an integrated township spread over approximately 140 acres in the upcoming Navi Mumbai Influence Notified Area (NAINA) in Navi Mumbai. According to sources, the application has been made in the name of Valuable Properties (VPPL), a special purpose vehicle (SPV) constituted for constructing the township. The company has received the location clearance certificate from the Maharashtra government and is awaiting approval from the district collector for the letter of intent. Once this is granted, the company will apply to City and Industrial Development Corp (CIDCO), which is the special planning authority (SPA) for developing NAINA. If the application meets all requirements, CIDCO will approve the plan within 60 days of receipt of the application.

A spokesperson for Adani Group did not respond to queries on the upcoming plans. A slightly smaller township of 110 acres is also planned by Navi Mumbai-based developer, Baviskar Group, owned by Prakash Baviskar. Baviskar is also president of the Navi Mumbai unit of the Maharashtra Chamber of Housing Industry (MCHI). Earlier last month, Wadhwa Group had announced plans for constructing a township in NAINA, focused on affordable housing and with plans to build 10,000 affordable homes.

NAINA is spread over a total area of 474 sq km, or about 47,409 hectares. This is larger than the entire island city of Mumbai and suburbs put together, which measure 437 sq km, or about 44,000 hectares.

At present, a number of mega infrastructure and connectivity projects have been planned to improve connectivity within Navi Mumbai as well as to and from the area, such as the Mumbai Trans Harbour Link (MTHL), Navi Mumbai Metro, expansion of the existing suburban rail network, the proposed Virar-Alibaug multi-modal corridor, a second bridge over the Thane creek and the Navi Mumbai international airport itself. The total cost of such projects is approximately Rs 35,000 crore, with the Navi Mumbai airport costing about half this amount.

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