The gated complexes that today command anywhere between Rs 1,500-3,500 per square foot were sold to original allottees at a measly Rs 200 by builders. Several non-resident Indians bought up 10-12 plots each and are still holding them empty, in anticipation of future gains once the airport becomes functional. Anyone back then who'd had the money and the sense to follow the lead of the local politicians will be thanking his stars.
The oral proposal to reduce the number of years of domestic flying from five to three years for airlines to qualify for international operations has been given a quiet burial.
On the issue of allowing domestic carriers to fly overseas before their completing 5 years of domestic operations, the document does not mention anything.
Air Deccan, which was forced to sell 26 per cent to Kingfisher Airlines chairman Vijay Mallya's UB Holdings to keep its head above water a few months ago, is likely to break even before Kingfisher.
If things go as planned, Navi Mumbai will emerge as one of the most accessible areas in the city of Mumbai and prices on its Palm Beach Road will be close to the city's famous Marine Drive some years down the line.
According to officials, at last count at least six large groups or consortiums are vying for this project, which is expected to change the way Mumbai is viewed some years down the line.
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