#RealtyNewsRoundUp: CAG Slams State On Failure To Relocate Slum-Dwellers From Mumbai Airport Land

It was in 2007 when plans to make area around the Mumbai Airport, formally known as Chhatrapati Shivaji International Airport, slum-fee was first made by providing alternate housing to about 8,000 families. According to a report by the Comptroller and Auditor General of India which was recently tabled in the state Assembly on March 28, the Slum Rehabilitation Authority and the Housing Department of the state failed to shift slum-dwellers. Lack of co-ordination among government agencies has been the prime reason behind the current situation, the CAG notes.

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After farmer protests, the Maharashtra government has put its plan on hold to introduce a controversial land acquisition Bill. If introduced, the Bill would have enabled the state to acquire land without the consent of the owner by paying five times the ready reckoner rate. Many of the state government’s big projects have been facing delays over land acquisition.

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The Bharatmala project, which is touted as the biggest infrastructure project in the history of India, is expected to impact businesses of as many as 25 toll projects across the country. According to a report by rating agency Icra, these toll road projects with debt of Rs 19,435 crore are at risk due to the planned economic corridors under the Bharatmala project. Under the plan, the Centre plans to construct 83,677 kilometre of highways over the next five years, at a cost of about Rs 7 lakh crore.

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The Lucknow Municipal Corporation will float municipal bonds worth Rs 100 crore to build a premium housing project on the Rae Bareli Road. The cost of flats in this project would range from Rs 10.5 to Rs 64 lakh.

Source: Media reports