Finally, the much talked about Navi Mumbai International Airport gets the green signal from the Ministry of Environment and Forests (MoEF) on 23rd November 2010. Recently (Jan 2011) the Ministry of Defence has also cleared the project.
The Rs. 4,000 crores Airport is being built on PPP (Public Private Partnership) basis with 74% equity with private sector. The airport is set to directly create 25,000 jobs in and around the area.
In an exclusive interview on CNBC-TV18, Ashutosh Limaye, associate director - strategic consulting at Jones Lang LaSalle India says, "Infrastructure projects like airports bring in a lot of employment opportunities. Airports work 24 x 7 and you require people who stay close by for ease of transportation. That creates a lot of residential demand".