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Prabhu chairs meet on AAI land monitisation

Press Trust of India  |  New Delhi 

As part its efforts to monetize lands of the Authority of India, Civil Aviation today chaired a high-level meeting to review framing of land use regulations for their commercial exploitation.

"Took comprehensive review on framing land use regulations for the to facilitate vibrant economic activity at and around airports," the tweeted after the meeting.

of State for Civil Aviation Jayant Sinha was also present. Further details about the outcome of the review meeting remained unclear.

The national airports operator, which manages 125 aerodromes, including civil enclaves, is awaiting amendments to to the AAI Act that would allow effective monetization of land assets.

These land could commercially utilised for providing like ATMs, hotels, motels, general etc.

The AAI owns around 55,000 hectares of land in urban areas across the country. Under the current norms, land can be used only for limited purposes.

Presenting the Union Budget for 2017-18 last week, had said the AAI Act would be amended to enable effective monetisation of land assets.

Sinha had, however, in August last year informed Parliament that the government's plan to liberalise land usage by AAI airports by amending law has been put on hold pending a decision from the on the matter.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, April 17 2018. 23:45 IST