New Delhi: The Civil Aviation Ministry has asked the Airports Authority of India (AAI) to monetise 759 acres of land near eight major airports by developing them for private enterprises to establish warehouses, hotels and restaurants.
The AAI has already drawn up a plan to lease out the land parcels around the airports to firms for a period of 25 to 30 years at a fixed annual price.
The airports that will see major development around them include 217 acres of land lying unused at Lucknow, 45 acres each in Kolkata, Amritsar and Bhubaneshwar, 35 acres in Jaipur, 60 acres in Varanasi, 80 acres in Raipur and 117 acres in Tirupati.
The AAI owns and manages 129 airports across the country. As many 94 of them were running in loss in the fiscal year 2017-18. The ministry wants it to modernise the city side of the airports.
