You are here: Home » Economy & Policy » News
Business Standard

Cidco launches Navi Mumbai smart city project

The total investment for Navi Mumbai (south) Smart City and other projects is Rs 34,777 crore

BS Reporter  |  Mumbai 

Bengaluru, Kolkata miss Smart City list

will have its first spread across 120 sq km in by 2019. The state-run City and Industrial Development Corporation (CIDCO) on Friday launched the (south) project with an initial outlay of Rs 2,033 crore. Ten 10 projects, including Navi Mumbai, have been proposed in the state.

Besides Cidco, a nodal agency for the proposed International Airport, has proposed an investment of about Rs 32,744 crore for the construction of affordable housing, construction of metro rail, development of port city, and provision of basic infrastructure. The total investment for Navi Mumbai (south) Smart City and other projects is Rs 34,777 crore.

vice-chairman and managing director Sanjay Bhatia told Business Standard: “The Navi Mumbai (south) smart city and other projects will be totally financed by and it won’t need funds from the state government. These projects will be completed by 2019. has deposits worth Rs 7,000 crore and huge land parcels. When required, Cidco will sell part of these plots and proceeds will be utilised to complete the projects.”

He noted the smart city vision is centred around developing an environment-friendly, financially sustainable city.

For the smart city project, Cidco has teamed up with Accenture, SAP, Stockholding Corporation and The smart city project will comprise 88 sub-projects including smart organisation, transparency and ease of doing business through e-governance, environmental sustainability, new technology for waste management, urban renewal, and development of gardens and play grounds.

Cidco is also developing Pushpak Nagar, a modern township adjacent to the international airport on 230 hectares with a plan outlay of Rs 941 crore. The project is set for completion in 2018. “These projects can withstand the coming boom and massive urbanisation and they are expected to attract fresh investment of Rs 50,000 crore with generation of 870,000 jobs,” said Bhatia.

First Published: Sat, December 05 2015. 00:36 IST