Thane, April 7 The City and Industrial Development Corporation (CIDCO) on Tuesday presented a budget of ₹16,250 crore for the financial year 2026-27, prioritizing infrastructure, regional connectivity, and affordable housing in Navi Mumbai.
The budget outlines projected revenues of ₹16,250 crore against an expenditure of ₹16,150 crore, resulting in an expected surplus of ₹100 crore.
"This budget reaffirms our commitment to infrastructure and quality housing. With the Navi Mumbai International Airport (NMIA) operational and the development of Aerocity, EduCity, and MediCity, Navi Mumbai is poised to become a major economic hub," said CIDCO Vice Chairman and Managing Director Vijay Singhal in a statement.
The NMIA, which currently handles 150 daily flight movements and 19,000 passengers, is scheduled to begin international operations by the end of this month.
The corporation has allocated significant funds for several high-impact transport projects: Metro Line 8: A 34.89-km corridor connecting the Mumbai international airport to NMIA, expected to serve nearly 10 lakh passengers daily by 2031.
Other proposed projects include the Thane-NMIA elevated corridor, which will reduce travel time between Thane and the airport from 90 minutes to just 30 minutes, and the laying of Metro Line 1A (Belapur-NMIA) and Line 2 (Pendhar-NMIA) to integrate the airport with the existing Navi Mumbai Metro network.
CIDCO is implementing a "Iconic City Development" strategy featuring specialized districts, including Aerocity, a 270-hectare modern aerotropolis ecosystem, and EduCity in Karanjade, for which MoUs were signed with global institutions like the University of York and Illinois Institute of Technology.
An International Corporate Park will be developed on 155 hectares in Kharghar.
Notably, CIDCO achieved a national record by excavating 812 meters of a water tunnel in a single month using a Tunnel Boring Machine (TBM), according to the release.