With a total estimated cost of around Rs 7,909, the ‘Khalapur Smart City’ is a major project designed as an integrated township developed by The City and Industrial Development Corporation of Maharashta (CIDCO).
The MoU was signed between the Corporation and three civic bodies, including Khalapur Nagar Panchayat, Nadode Gram Panchayat, and Kalote Mokashi Gram Panchayat. The three bodies represent 11 villages: Khalapur, Mahad, Shiravali, Nimbode, Vanve, Nadode, Nigdoli, Kalote Mokashi, Kalote Rayati, Vinegaon, and Kandroli Turf Wankhal. These villages all have taken part to voluntarily pool land totalling around 3,550 hectares for the project.
In the next 10 years, CIDCO will develop the growth of the city, its centres and infrastucture after receiving approval for the Khalapur Smart City Project Development Plan. According to a statement, the Hjalapur Smart City will be inaugurated in 2017.
Apart from this, the Corporation has also signed more MoUs with 11 developers to develop other township projects in the NAINA region. It is reported that the estimated investment potential will be about Rs 29,000 crore.
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