CIDCO
The City and Industrial Development Corporation (CIDCO) has decided to give development permission to realty projects that have secured a height Non-Objection Certificate from the Airport Authority of India (AAI). This move will help spur real estate development in the areas around the upcoming Navi Mumbai International Airport. These areas fall under the purview of Navi Mumbai Airport Influence Notified Area (NAINA) and with this, the realtors will be able to carry out constructions up to the permissible height mentioned in the NOCs issued by the AAI. CIDCO will soon grant commencement and occupancy certificates to developers who have valid Non-Objection Certificates for the mandatory height. Sanjay Mukherjee, VC & MD at CIDCO, commented that this will remove the hurdles in the development of various projects in the Navi Mumbai and NAINA region and further stimulate the development of this region. Similarly, concerned developers and citizens will also get relief from this decision. Real estate developers expect the decision to prompt a rise in economic activity in the region and they appreciated this move by CIDCO as this is bound to increase the number of project launches in the next few months and inject booster to the real estate industry in Navi Mumbai.
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