The Union Cabinet, at a meeting chaired by Prime Minister Narendra Modi, approved the "transfer/exchange of 278 hectares of IAF land comprising of 288.74 acres of Airports Authority of India 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."
It also decided to simultaneously restore ownership of 288.74 acres of the airport land currently in possession of IAF at the airport to AAI, an official release said.
The state government had offered 400 hectares of land to IAF at one site in lieu of 278 hectares, taking into account the cost of relocation of the existing assets of IAF, the release said, adding that the 278 hectares were located at five different pockets "thereby restricting IAF to develop the GAJRAJ project in an integrated manner".
The state government's proposal was found appropriate by IAF as additional land for extension of runway and other works required for the GAJRAJ project, it said, adding that IAF needed a single plot of land for the project.
At the same time, the land currently in possession of IAF falls in the Multi-modal Integrated Cargo Hub at Nagpur (MIHAN) which was required for development of MIHAN project.
The additional 122 hectares of land given to the IAF would meet the cost of its existing assets which cannot be relocated.
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
