The greenfield Navi Mumbai International Airport (NMIA) being constructed at an estimated cost of Rs 16,700 crore will boost the economy of India that is competing with the likes of the US and China in the global arena. It is not simply an infrastructure project meant for Navi Mumbai, says Bhupendra Shah, chairman and managing director of Bhumiraj group, one of Navi Mumbai’s leading developers.
The proposed airport project that is spread over 1,160 ha is coming up in Ulwe Kopar-Panvel region. Along with Chhatrapati Shivaji Maharaj International Airport in Mumbai, it will be the second international airport in Mumbai Metropolitan Region. With domestic and international cargo terminals, NMIA will be a part of the country’s first multi-airport system.
Shah, who is also the Chairman Trustee Board of Builders Association of Navi Mumbai (BANM), said, “The proposed airport is actually not Navi Mumbai requirement but that of Mumbai.”
He explained, “It has actually reduced land by as much as 7,200 acres here. Height-related issued have led to several projects being stuck for the past 15 years. The airport project was first conceptualised in the mid-90s. We are now in 2021 and the airport is nowhere in sight. Development has stopped in the region around the airport area.”
On the project effect so far, Shah said, “The announcement of the project years back has boosted sentiments in the region. Land prices have appreciated manifold up from Rs 10,000/sq m to over Rs 2.5 lakh/sq m due to such sentiments.”
Appreciating CIDCO on its rehabilitation package for persons affected due to the airport construction, Shah said, “CIDCO has not given a single rupee to the project affected persons, but offered 22.5% of development land to them along with a number of other benefits. This is a good move. CIDCO has come up with an excellent plan which is the best in the country.”
On the benefits of the project, Shah said, “The project will bring along with it employment on a large scale. There will be huge direct job opportunities at the airport itself. There are also a number of airport-related industries and services that will come as the project picks up.”
He added, “International hotel chains and restaurants will come along with shipping companies, clearing and forwarding agents, couriers etc. The hospitality industry will generate over 50,000 jobs, the courier companies over 40,000 jobs and so on.”
He informed, “CBD Belapur that is located close to the airport is already reaping benefits of the proposed project. The area was virtually a concrete jungle since 1994-95 and no one was interested in purchasing office space here. Since 2015-16, the shipping companies, clearing and forwarding agents and consequently hotels and restaurants have started setting up base here.”
According to Shah, “The IT industry has come up big way in Thane-Belapur belt. As the airport develops there will be a huge rush of the IT industry bigwigs. Reliance SEZ, attracting a host of industries too will come up to give a boost to employment generation.”
“Prime Minister Narendra Modi has stated that we Indians have it in us to turn adversity into opportunity. This airport project will be an economic booster for the country,” Shah said.
He added: “Navi Mumbai International Airport is amongst the key projects in the country that India needs to challenge the economies of US and China. We are very well equipped to beat them on all fronts and such world class infrastructure is what is needed to do so.”
The Bhumiraj Group
A passionate legacy of over 3 decades has seen Bhumiraj Group evolve from a visionary idea into Navi Mumbai’s foremost real estate developer. Led by Bhupendra Shah, who is also the Chairman Trustee Board of Builders Association of Navi Mumbai, the group has re-defined Navi Mumbai’s skyline with a string of landmark projects on the iconic Palm Beach Road and other nodes.
The group has targeted budget housing concept that has worked in favour of Mumbai’s sister city. Its success in providing quality lifestyle infrastructure has upgraded it to the status of `Budget Luxury’. Among the major projects taken up by the group now is a 14-acre residential township in CBD Belapur that offers the perfect combination of contemporary architecture with comfortable living at the very heart of all that’s happening in Navi Mumbai.
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