CIDCO plans integrated township Khalapur Smart City

The Corporation today signed an MoU with three civic bodies, including Khalapur Nagar Panchayat, Kalote Mokashi Gram Panchayat and Nadode Gram Panchayat, representing 11 villages, at a 'Make in India' Week event to develop the township project.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead GrowMyMoney IThe Winning Leap SME Special
Moneycontrol

Home » News » Economy

Feb 17, 2016, 09.20 PM | Source: PTI

CIDCO plans integrated township 'Khalapur Smart City'

The Corporation today signed an MoU with three civic bodies, including Khalapur Nagar Panchayat, Kalote Mokashi Gram Panchayat and Nadode Gram Panchayat, representing 11 villages, at a 'Make in India' Week event to develop the township project.

Like this story, share it with millions of investors on M3

CIDCO plans integrated township Khalapur Smart City

The Corporation today signed an MoU with three civic bodies, including Khalapur Nagar Panchayat, Kalote Mokashi Gram Panchayat and Nadode Gram Panchayat, representing 11 villages, at a 'Make in India' Week event to develop the township project.

Post Your Comments

Share Cancel

CIDCO plans integrated township Khalapur Smart City
The City and Industrial Development Corporation of Maharashtra (CIDCO) has decided to develop an integrated township 'Khalapur Smart City', entailing an investment of Rs 7,909 crore.

The Corporation today signed an MoU with three civic bodies, including Khalapur Nagar Panchayat, Kalote Mokashi Gram Panchayat and Nadode Gram Panchayat, representing 11 villages, at a 'Make in India' Week event to develop the township project.

A special purpose vehicle 'Khalapur SPV' has been formed for the project, which would be developed on the lines of CIDCO's Navi Mumbai Airport Influence Notified Area (NAINA), a statement issued here said.

The 11 villages, namely Khalapur, Mahad, Shiravali, Nimbode, Vanve, Nadode, Nigdoli, Kalote Mokashi, Kalote Rayati, Vinegaon and Kandroli Turf Wankhal, have taken the initiative to voluntarily pool land totalling around 3,550 hectares for the project.

The total cost of the project is estimated at Rs 7,909 crore, of which the SPV would invest Rs 3,287 crore for developing internal infrastructure, while CIDCO would contribute Rs 4,622 crore towards city and peripheral-level infrastructure, the statement said.

The SPV would allocate 40 percent land towards the project for developing physical and social infrastructure and growth centres, it said.

The growth centres, city and peripheral-level infrastructure would be developed by CIDCO in the next 10 years in phased manner, after receiving approval for the Khalapur Smart City Project Development Plan by the state, it said.

The development of physical infrastructure on 60 percent of the land would be the responsibility of the SPV.

The work on the project is expected to commence by 2017, it said.

Apart from this, the Corporation has also signed MoUs with 11 developers, with an investment potential of about Rs 29,000 crore to develop township projects in the NAINA region.

"This will further enhance several investments and business opportunities in the region," the release stated.

Buy, Hold, Sell ? Hear it first on M3
CIDCO plans integrated township Khalapur Smart City

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login