E-Paper
CIDCO unveils ₹16,250-cr Budget for FY 27; focuses on expansion of airport, metro, and housing
CIDCO unveils ₹16,250-cr Budget for FY 27; focuses on expansion of airport, metro, and housing
Thane, The City and Industrial Development Corporation on Tuesday presented a ₹16,250-crore budget for the financial year 2026-27, prioritising infrastructure, regional connectivity, and affordable housing in Navi Mumbai.
The budget outlines a projected receipt of ₹16,250 crore against an expenditure of ₹16,150 crore, leaving an expected surplus of ₹100 crore.
"The budget reinforces our commitment to infrastructure and quality housing. With the Navi Mumbai International Airport operational and the development of Aerocity, EduCity, and MediCity, Navi Mumbai is poised to emerge as a major economic hub," CIDCO Vice Chairman and Managing Director Vijay Singhal stated in a release.
The NMIA, which currently handles 150 daily flight movements and 19,000 passengers, is set to begin international operations by the end of this month.
The corporation has earmarked significant funds for several high-impact transport projects: Metro Line 8: A 34.89-km corridor connecting Mumbai international airport to NMIA, expected to serve nearly 10 lakh passengers daily by 2031.
Other proposed projects include the Thane-NMIA elevated corridor, which will reduce travel time between Thane and the airport from 90 minutes to just 30 minutes, and the laying of Metro Line 1A and Line 2 to integrate the airport with the existing Navi Mumbai Metro network.
CIDCO is implementing an "Iconic City Development" strategy featuring specialised districts, including Aerocity, a 270-hectare modern aerotropolis ecosystem, and EduCity in Karanjade, for which MoUs were signed with global institutions like the University of York and Illinois Institute of Technology.
An International Corporate Park will come up on 155 hectares in Kharghar.
Notably, the CIDCO achieved a national record by excavating 812 meters of a water tunnel in a single month using a Tunnel Boring Machine , according to the release.
This article was generated from an automated news agency feed without modifications to text.
Stay updated with all the Breaking News and Latest News from Mumbai. Click here for comprehensive coverage of top Cities including Bengaluru, Delhi, Hyderabad, and more across India along with Stay informed on the latest happenings in World News.
