For NAINA, MOU signed between CIDCO, two village panchayat and one nagar parishad

From ET Realty

NAVI MUMBAI: In a breakthrough for its NAINA project, Cidco has signed MoU with two village panchayats and a nagar parishad comprisng 11 villages under Khalapur panchayat for developing township under the 60: 40, Navi Mumbai Airport Influence Notified Area (NAINA) land participation model.

Land owners can pool in their land and develop properties on 60 % of the total land while Cidco will develop infra on 40 % of the land.

The 3500 hectares of land of the 11 villages is as big as the 23 villages for which Cidco has prepared the interim development plan and forwarded it to the state government for its approval.

Cidco said it will prepare the plan for the 11 villages and forward it to the government and the SPV of the villagers contributing the land will select developer for the township model.

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