To fast track the Navi Mumbai Internatioal Airport, City and Industrial Development Corporation (CIDCO), on 27 May 2014, laid the foundation stone for the Pushpak Nagar (Dapoli) project.

The Pushpak Nagar project is envisaged to be a modern hub with roads, street lights and infrastructure work. The developed plot in the project will be allocated to the villagers whose lands need to be acquired for the airport project. The project will entail an investment of Rs 560 crore.

CIDCO plans to complete measurement of the land and begin construction within three months. It is expected to allocate the developed plots to the villagers by January - February 2015.

The project-affected people, who will be provided developed plots as per the 22.5 per cent compensation package, and FSI of two, can choose to either sell or hold on to their property till a later date, with price expected to increase substantially.

Meanwhile, the company has again extended the bids submission date for the RfQs invited on 5 February 2014, for strategic partner for developing the airport project, till 30 July, 2014 (Tender).