MIAL plans to auction 50-60 acres land over next 3 years

The company plans to auction 10-12 acres of land in the first phase by next year.

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With a view to monetise its land bank around the Mumbai international airport, the GVK led Mumbai International Airport (MIAL) plans to auction around 50-60 acres of land over the next 3 years, a senior company official said.

"We are looking at monetising our land parcels around the airport, but approvals will take some time," MIAL''s President-Real Estate, Anil Pandit told reporters on the sidelines of CII Real Estate Conclave. The company plans to auction 10-12 acres of land in the first phase.

"We would be auctioning the first tranche of 10-12 acres of land next year. We expect 50-60 acres of land, which is exclusive of the slum occupied area, would be available, once the airport construction activity is completed," he said.

The area, which was used for setting up facilities like badging, parking lots and other such airport operation related facilities, would be freed once the construction of the new international terminal at the airport is completed, Pandit said.

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