CIDCO’s proposed ‘Integrated Commercial Complex’ at its Seawoods Railway Station inched ahead on Tuesday with Larsen & Toubro, with its quotation of Rs 1,809 crore, emerging the highest bidder. The complex will be spread over 16.2 hectares, with a total of 26 lakh sq ft of prime commercial space being developed, said Gill, with an FSI of 1.5. “This complex will be a state-of-the-art complex providing space for commercial, shopping, offices, multiplexes and hotels,” he said.

Alongwith an integrated commercial complex, the developer will also build an “iconic” railway station building, at an estimated cost of Rs 35 crore.

L&T was followed by DLF Retail Developers with a Rs 1,530 crore-bid and then India Bulls Real Estate with Rs 1,059 crore. The award of the contract will be finalised shortly.

The golf course, an 18-hole one of international standards, will be developed in the Kharghar Node of the satellite city, To sprawl across 103 hectares including a residential complex, the golf course will be designed by Pacific Coast Design, an Australian firm, said CIDCO Managing Director and vice-president G S Gill.

“The golf course will be completed within 18 months,” Gill said. With a 25 per cent real estate development component in the golf course project, GIll expects that Navi Mumbai will soon see a further boost in realty rates and in the luxury homes market.

Progress on Navi Mumbai Airport
CIDCO officials confirmed that the process of appointing a consultant for the Navi Mumbai airport is now complete, with the Louis Berger Group of Washington DC being appointed. The consultant will prepare a Detailed Project Report within 10 months.

Developers for the airport will be finalised in another three to four months after that, said Gill.

It is planned to complete the first phase of the airport by July 2012. Although the Chhatrapati Shivaji International Airport is undergoing an overhaul being undertaken by the Mumbai International Airport Pvt Ltd (MIAL), it is expected that this airport will reach saturation point-over 40 million passengers per annum-by 2013. That's why a second airport for the country’s financial capital assumes a key position.