MIHAN To Monetise 271 Hectares Near Nagpur Airport

Nagpur’s Dr Babasaheb Ambedkar International Airport is set to undergo rapid development in its vicinity as the Multi-modal International Cargo Hub and Airport at Nagpur (MIHAN) has initiated plans to monetise 271 hectares of surrounding land.

The decision to monetise the land follows the Union Cabinet’s approval to modernise the airport. In May, the Cabinet cleared the extension of the Airports Authority of India’s (AAI) land lease to MIHAN India Ltd (MIL), aligning it with the 30-year concession period granted to GMR Nagpur International Airport Limited (GNIAL).

GNIAL is tasked with transforming the airport into a world-class facility capable of handling 30 million passengers annually. To achieve this, MIL has floated a tender inviting consultancy firms to conduct a feasibility study and prepare an indicative master plan for monetising the 271 hectares of city-side land.

The land to be monetised includes 122 hectares under AAI lease regulations and 149 hectares under Maharashtra Airport Development Company regulations. This is separate from the approximately 900 hectares assigned for core airport operations and around 100 hectares provided to GNIAL for commercial airport development.

The appointed consultant will conduct site appreciation, market demand assessments, and traffic-access requirements, and establish land disposal policies covering commercial, industrial, residential, and aviation-linked developments.

The effort to modernise Nagpur’s airport began in 2009, when MIL was created as a joint venture between the Maharashtra Airport Development Company (MADC) and AAI. Although operational assets were transferred immediately, land demarcation issues delayed the formal lease deed.

In 2016, GMR Airports Ltd. won the bid, but MIL annulled the process in March 2020 due to a disagreement over revenue share percentages. GMR successfully challenged the annulment in the Bombay High Court, and the decision was subsequently upheld by the Supreme Court.

Consequently, MIL signed the formal concession agreement with GNIAL in October 2024. The modernisation of the airport is expected to have a significant impact on the region, with the potential to increase economic activity and create new opportunities.

The development of the airport and surrounding land is a crucial step towards establishing Nagpur as a major hub for trade and commerce. With the monetisation of the land, MIHAN aims to create a world-class infrastructure that will support the growth of the region.

The project is expected to be completed in phases, with the first phase focusing on the development of the airport and its surrounding infrastructure. The subsequent phases will focus on the monetisation of the land and the development of commercial, industrial, and residential areas.

The modernisation of the airport and the development of the surrounding land will have a significant impact on the region, creating new opportunities for economic growth and development.

In conclusion, the monetisation of 271 hectares of land near Nagpur airport is a significant step towards establishing the region as a major hub for trade and commerce. With the development of the airport and surrounding infrastructure, MIHAN aims to create a world-class facility that will support the growth of the region and create new opportunities for economic activity.