The Maharashtra government has accelerated plans for a 667-acre Aerocity in the vicinity of the Navi Mumbai International Airport, which is set to be launched in September. Spearheaded by CIDCO, the ambitious project aims to create a global business and lifestyle hub with residential, commercial, retail, and mixed-use developments, integrated with the region’s rapidly expanding infrastructure.

A techno-economic feasibility study will be undertaken for commercial, retail, residential, industrial, and mixed-use projects, each spanning over 120 acres, officials of the City and Industrial Development Corporation (CIDCO) said.

The Navi Mumbai Airport is set to become a significant enhancement to the Mumbai Metropolitan Region (MMR) and will serve as a crucial asset for the country.

According to a CIDCO official, the Aerocity is being planned and constructed to host financial services, corporate offices, export-oriented services, aero-centric warehousing, as well as hotels, hospitals, schools, and entertainment facilities.

The officials indicated that a Master Plan will be instrumental in evaluating the market’s requirements, conducting a financial feasibility study, and designing the necessary infrastructure, among other considerations, while maintaining both domestic and international perspectives.

CIDCO has floated a tender to appoint a consultant for preparing the Aerocity Master Plan. The document specifies that the plan will be drawn up keeping in mind the surrounding infrastructure development linked to the upcoming airport.

“The consultant will have to assess the current urban landscape and development trends, real estate scenarios in Navi Mumbai, considering Navi Mumbai International Airport which is nearing commissioning, Navi Mumbai Airport Influence Notified Area (NAINA) and other major projects such as the Mumbai Trans Harbour Link (MTHL) also known as Atal Setu, Navi Mumbai Metro Lines, suburban railway line expansions, and other projects of ports and highways,” reads the tender document.

The CIDCO is the special planning authority that has played a major role in development and planning of Navi Mumbai that was conceived as a satellite city to Mumbai in the 1970s. The CIDCO has developed 14 nodes of areas having mixed use of residential, commercial, retail, among several others.

CIDCO officials said land for the Navi Mumbai Aerocity was acquired alongside the airport’s construction. A consultant will now be appointed to prepare the master plan and provide transaction advisory services for the proposed development.

Developers noted that the Navi Mumbai Airport presents the government with an opportunity for truly planned development, something Mumbai lacked historically, at least at this scale.

“Today, several areas of Mumbai are flooded, and there is waterlogging. However, there is nominal waterlogging in Navi Mumbai, and movement is not impacted. This is the result of planning by CIDCO and several authorities who have made Navi Mumbai what it is today. With Navi Mumbai AeroCity, we have the opportunity to develop another Vile Parle that has options for hotels, hospitals, education, but in a planned manner,” Manohar Shroff, senior vice president of CREDAI-MCHI, Navi Mumbai, a real estate apex body, said.

According to media reports, the country currently has nine Aerocities that are constructed or in the development stage, including those of Delhi, Hyderabad, Mohali, Durgapur, Jewar Airport near Noida, near Ayodhya International Airport, Devanahalli aerocity near Bengaluru Airport, and Navi Mumbai.