NM airport project on shaky ground

Local farmers, who collectively own over 1,000 acre  earmarked for the Navi Mumbai International Airport, are demanding a whopping Rs 20 crore per acre, which is five times more then the market rate. Even though the land under possession of local villagers account for less than 25 per cent of the airport site, the cost of this land alone will add up to Rs 20,000 crore, throwing the airport project completely out of gear. The original cost of the airport project was Rs 10,000 crore. Alternatively, the farmers are willing to give their land free of cost, if Cidco promises to provide them a 40 per cent ownership after development of the project.Contact: CIDCO.Tel: 022-6650 0904.Fax: 022-2202 2509.E-mail: md@cidcoindia.comWebsite: www.cidcoindia.com