Prabhu Chairs Meet on AAI Land Monitisation
As part its efforts to monetize lands of the Airport Authority of India, Civil Aviation Minister Suresh Prabhu today chaired a high-level meeting to review framing of land use regulations for their commercial exploitation.
New Delhi, Apr 17 (PTI) As part its efforts to monetize lands of the Airport Authority of India, Civil Aviation Minister Suresh Prabhu today chaired a high-level meeting to review framing of land use regulations for their commercial exploitation.
"Took comprehensive review on framing land use regulations for the Airports Authority of India to facilitate vibrant economic activity at and around airports," the minister tweeted after the meeting.
Minister of State for Civil Aviation Jayant Sinha was also present. Further details about the outcome of the review meeting remained unclear.
The national airports operator, which manages 125 aerodromes, including civil enclaves, is awaiting amendments to to the AAI Act that would allow effective monetization of land assets.
These land could commercially utilised for providing non-aeronautical services like bank ATMs, hotels, motels, general retail shops etc.
The AAI owns around 55,000 hectares of land in urban areas across the country. Under the current norms, airport land can be used only for limited purposes.
Presenting the Union Budget for 2017-18 last week, Finance Minister Arun Jaitley had said the AAI Act would be amended to enable effective monetisation of land assets.
Sinha had, however, in August last year informed Parliament that the government's plan to liberalise land usage by AAI airports by amending law has been put on hold pending a decision from the Supreme Court on the matter.
(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)