Consortium for Purandar Airport project approved. Here's more!
AVIATION & AIRPORTS

Consortium for Purandar Airport project approved. Here's more!

In order to expedite the Purandar Airport project, Maharashtra Chief Minister Devendra Fadnavis has approved a consortium comprising four local authorities to form a special purpose vehicle (SPV). 

The government consortium for investment of seed capital for the proposed airport project will reportedly be formed by the Pune Metropolitan Region Development Authority (PMRDA), along with Mumbai Metropolitan Region Development Authority (MMRDA), City and Industrial Development Corporation of Maharashtra (CIDCO) and the Maharashtra Airport Development Company.

As reported, local authorities are expected to pitch in with 25 per cent investment and would have an equity participation in the project. The SPV is expected to speed up the project, while the local bodies through their various schemes can help invest in the project. The rights for development will be given to the PMRDA and is expected to help in the overall development of the project. Investment for the project is expected to come through various town planning schemes and other means of land monetisation.

Last year, during the ground-breaking ceremony of the Mhalunge-Mann Hi-tech city in Pune, Fadnavis had announced a consortium as well as formation of an airport city around the proposed Chhatrapati Sambhaji Raje International airport at Purandar. Besides, the state government is in plans to develop the airport city to ensure proper planning for Purandar airport and surrounding areas.

In order to expedite the Purandar Airport project, Maharashtra Chief Minister Devendra Fadnavis has approved a consortium comprising four local authorities to form a special purpose vehicle (SPV).  The government consortium for investment of seed capital for the proposed airport project will reportedly be formed by the Pune Metropolitan Region Development Authority (PMRDA), along with Mumbai Metropolitan Region Development Authority (MMRDA), City and Industrial Development Corporation of Maharashtra (CIDCO) and the Maharashtra Airport Development Company. As reported, local authorities are expected to pitch in with 25 per cent investment and would have an equity participation in the project. The SPV is expected to speed up the project, while the local bodies through their various schemes can help invest in the project. The rights for development will be given to the PMRDA and is expected to help in the overall development of the project. Investment for the project is expected to come through various town planning schemes and other means of land monetisation. Last year, during the ground-breaking ceremony of the Mhalunge-Mann Hi-tech city in Pune, Fadnavis had announced a consortium as well as formation of an airport city around the proposed Chhatrapati Sambhaji Raje International airport at Purandar. Besides, the state government is in plans to develop the airport city to ensure proper planning for Purandar airport and surrounding areas.

Next Story
Technology

Building Faster, Smarter, and Greener!

Backed by ULCCS’s century-old legacy, U-Sphere combines technology, modular design and sustainable practices to deliver faster and more efficient projects. In an interaction with CW, Rohit Prabhakar, Director - Business Development, shares how the company’s integrated model of ‘Speed-Build’, ‘Smart-Build’ and ‘Sustain-Build’ is redefining construction efficiency, quality and environmental responsibility in India.U-Sphere positions itself at the intersection of speed, sustainability and smart design. How does this translate into measurable efficiency on the ground?At U..

Next Story
Infrastructure Transport

Smart Roads, Smarter India

India’s infrastructure boom is not only about laying more kilometres of highways – it’s about building them smarter, safer and more sustainably. From drones mapping fragile Himalayan slopes to 3D machine-controlled graders reducing human error, technology is steadily reshaping the way projects are planned and executed. Yet, the journey towards digitisation remains complex, demanding not just capital but also coordination, training and vision.Until recently, engineers largely depended on Survey of India toposheets and traditional survey methods like total stations or DGPS to prepare detai..

Next Story
Real Estate

What Does DCPR 2034 Mean?

The Maharashtra government has eased approval norms for high-rise buildings under DCPR 2034, enabling the municipal commissioner to sanction projects up to 180 m on large plots. This change is expected to streamline approvals, reduce procedural delays and accelerate redevelopment, drawing reactions from developers, planners and industry experts about its implications for Mumbai’s vertical growth.Under the revised DCPR 2034 rules, buildings on plots of 2,000 sq m or more can now be approved up to 180 m by the municipal commissioner, provided structural and geotechnical reports are certified b..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?