The City and Industrial Development Corporation of Maharashtra Ltd. (CIDCO) presented the Budget for FY24 on March 30, 2023. The proposed Budget is 21.79% more than the revised estimates for FY 2022-23, which was Rs 8657.53 crore.
The Navi Mumbai International Airport, Housing, metro, water supply, railway, NAINA and new towns are the focus areas for CIDCO, this Budget 2023-24.
PMAY Housing
The CIDCO has allocated Rs 3406.57 crore for housing. CIDCO is responsible for providing a substantial number of EWS/LIG tenements, totalling 86,588, in four separate packages, under Pradhan Mantri Awas Yojana (PMAY), with the sanction of both the Central and State Government. Taking this forward with this, CIDCO plans to construct approximately 89,000 houses in various locations within Navi Mumbai, including Vashi, Juinagar, Kharghar, Ulwe, Mansarovar, Khandeshwar, New Panvel and Taloja.
Navi Mumbai International Airport
In FY 2023-24, CIDCO’s objective is to establish connectivity to the upcoming Navi Mumbai International Airport, while simultaneously enhancing connectivity with various regions of Mumbai Metropolitan Region (MMR). NMIA has been allocated Rs 907.52 crore for FY 23-24.
Navi Mumbai Metro
The Navi Mumbai Metro Line-1 in its entirety is scheduled to be commissioned in April of 2023. Navi Mumbai Metro has been allotted Rs 777.81 crore in FY 23-24 Budget.
NAINA (Navi Mumbai Airport Influence Notified Area)
CIDCO is the special planning authority (SPA) and is working towards development of NAINA that has 12 town planning schemes (TPS) under it. Currently, TPS no. 1 has been accorded with the definitive sanction, TPS no. 2 has received the preliminary sanction, and TPS no. 3 is anticipating the preliminary sanction. The Planning section is currently in the process of drafting the schemes for TPS- 8 to 12.
CIDCO budget estimates FY 23-24
Source: CIDCO
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With 16+ years of experience in various sectors, of which more than ten years in real estate, Anuradha Ramamirtham excels in tracking property trends and simplifying housing-related topics such as Rera, housing lottery, etc. Her diverse background includes roles at Times Property, Tech Target India, Indiantelevision.com and ITNation. Anuradha holds a PG Diploma degree in Journalism from KC College and has done BSc (IT) from SIES. In her leisure time, she enjoys singing and travelling.
Email: anuradha.ramamirtham@housing.com
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