Restoration of ownership of 288.74 acres of land in possession of IAF at Nagpur Airport to AAI
The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, gave its approval for transfer/exchange of 278 hectares of Indian Air Force (IAF) land comprising of 288.74 acres of Airports Authority of India (AAI) land in possession of IAF in lieu of 400 hectares of land offered by the Government of Maharashtra for the development of the Nagpur airport project and simultaneous restoration of ownership of 288.74 acres of AAI land at present in possession IAF at Nagpur Civil Airport to AAI.The State Government has offered 400 hectares of land in lieu of 278 hectares taking into account the cost of relocation of the existing assets of IAF. This has also been found appropriate by IAF as additional land for extension of runway etc. is required for the GAJRAJ project of IAF. The 278 hectares land in possession of IAF is located at 5 different pockets thereby restricting IAF to develop the GAJRAJ project in an integrated manner. IAF needed a single plot of land for expansion of runway and development of GAJRAJ project. At the same time, the IAF land falling in the MIHAN airport boundary is required for the development of MIHAN project. The additional land of 122 hectares has been offered by the State Government to meet the cost of existing assets of IAF which cannot be relocated. The proposed exchange of land is not only beneficial for the airport project of MIFIAN but also required for the integrated development of the GAJRAJ project of IAF and hence both the IAF and MIHAN are in a win-win situation.
Powered by Capital Market - Live News
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
