Business Standard
Friday, Jun 01, 2012
Sponsored by  
drived banner
drived banner
  Advanced Search
RSS
Content Guide
Follow us on  
||||Economy & Policy||||| 
 Section Home | News Now | Today's Paper | Features & Analysis | Politics & Public Affairs | Q&A | Columnists | BS Says
Home > Economy & Policy Live Markets | Commodities
 

Rs 350-cr relief in Navi Mumbai airport project
Sanjay Jog / Mumbai Jun 19, 2010, 00:36 IST

The package is for the 4,000 families affected by the airport.

Even as the Ministry of Environment and Forests has to clear the new international airport in Navi Mumbai, the City and Industrial Development Corporation (Cidco), the township and industrial infrastructure arm of the Maharashtra government, has proposed a Rs 350-crore rehabilitation package for about 4,000 families affected by the project.

The package, which is to be taken up for discussion at Cidco’s board meeting on June 23, envisages provisions like allotment of preferential equity shares to the extent of 100 shares at face value of Rs 10 in the proposed special purpose vehicle, Navi Mumbai International Airport.

Other provisions include developed land equivalent to the actual loss plus 50 sq mt, subject to a maximum 100 sq mt, an additional land of 10 sq mt to every nuclear family, and financial assistance to the tune of Rs 10,000 towards the transportation cost for shifting.

Cidco sources told Business Standard that the affected families had been offered to purchase additional land at 250 per cent of the reserved price, subject to the extent of equivalent balance landholding or 150 sq mt, whichever is less. However, the total area would not exceed 200 sq mt.

“The project is proposed to be developed on 1,615 hectare, of which 1,140 hectares of ‘on-airport’ area will be used for landing, take-off and other terminal purpose, and the remaining 475 hectares for ‘off-airport’ work,” they said.

“The land belongs to seven villages and 10 settlements are existing within. The project is going to affect the households, minor business activities in the airport zone and some are required to be resettled and rehabilitated. The rehabilitation package is prepared in accordance with the national and state policies,” the sources added.

Further, the package envisages payment of a one-time grant equivalent to 750 days of minimum wages to skilled, semi-skilled and unskilled labourers, or those who lose their employment permanently due to the airport project.

However, Cidco sources said the company “will make best efforts to provide employment to the affected people, subject to availability and suitability of the affected persons”. On June 7, Cidco had submitted an environment impact assessment report to the ministry after holding public hearing last month.

New Ipad Application :Business Standard's all new IPad App
Click here to download for free
Arrow Other Stories     
- Markets post worst May performace since 2006
- Kavveri Telecom Q4 net declines over 6%
- Wall Street opens flat on economy worries
- RIM to set up first BlackBerry innovation zone in India
- Rajaratnam bragged about sources of inside info: Gupta lawyers
  Read Business news in 
- Help a Child Achieve her. Click to know more
- Benefits Upto Rs. 2.36 Lakhs on the Fully Loaded TJet Petrol.
- Watch The Film Here. Click here to know more..
- 1 billion in saving for Unilever without any tangles.
- One Partnership Endless Possibilities. Click here to know more
- Which is the best plan for your daughter
- Check out the TRUE COLOURS of your Stocks, Now for FREE!
- One of the leading business schools in the world.Know More
Sorry, comments to this story are closed
Latest Messages
Table for Two
  Now available at Special price
  Rs.280/- Only

  Buy Now
BS POLL
UPA 2 has completed three years. How do you rate its performance?  Read the story
  Good
  Average
  Bad
Submit
Most Popular
Read
E-Mailed
Commented
   
- Slowdown gets worse, GDP growth sinks to 9-year low
- India to be $2-trn economy by FY13-end?
- India Inc ready to shift to other side of the dot on www
- Bharat Bandh sussessful in Chhattisgarh
- IIT alumni to move court on changes in JEE
 
 More  
New Ipad Application
 Business Standard's all new IPad  App
 Click here to download for free
  Hot Searches  
 
Apalya |  Air India |  GAAR |  Agni  |  Solar eclipse |  Satyamev Jayate |  SRK |  Aamir Khan |  IPL |  Ertiga |  Sarfaesi Act |  Vodafone |  JP Morgan |  Transfer pricing |  Rupee |  Kingfisher Airlines |  Silver |  Provident Fund |  income tax refund |  iPhone |  Reliance Industries |  SEBI |  BSNL |  BSE |  NSE |  Mukesh Ambani |  Anil Ambani |  Infosys |  Pranab Mukherjee |  Sonia Gandhi |  Rahul Gandhi |  New Pension Scheme |  Reliance |  RBI |  GDP |  Gold |  Ratan Tata |  ICICI |  B-School |  Sensex |  Tax calculator |  Home Loan |  Personal Finance |  inflation |  oil prices |  Barack Obama |   
 
  Member Area Write to the Editor RSS Archives Advanced Search
  Subscribe to BS print product BS e-paper Newsletter Portfolio Tracker
  BS Products BS Hindi BS Motoring BS Books
Home | Markets & Investing | Companies & Industry | Banking & Finance | Economy & Policy | Opinion
Life & Leisure | Management & Marketing | Tech World | General News
About Us | Partner With Us | Code of Conduct | Careers | Advertise with us| Terms & Conditions | Disclaimer | Contact Us