The First private airport
India has a total of about 454 airports and airstrips in total. Sixteen out of this are International airport. AAI (Airport authority of India) owns and governs 97 airports. India’s civic aviation ministry is trying to expand the number of airports in operation to over hundred in twelve more years. India is in a fast developing phase and privatization of various sectors has been very efficient and is faster. About 8.5 Billion dollars is planned to be invested in development of airports in the 11th five years plan. AAI has planned to invest 3.07 billion dollars is planned to invest on airports in the next 5 years. Forty three percent of this is allotted just three metro airports Kolkata, Chennai and Trivandrum.
Trivandrum, First private airport:
India’s first private sector airport is set to be located in Aranmula in Pathanamthitta district of Kerala. The final steps on approval stage are being carried on and the economic clearance for airport has been cleared. The project has been estimated about 2,000 Crores and and has been facing problems from political and environmentalist. The project is being promoted by KGS Aranmula International airport. Approval has been issued by Union Ministries of Civil Aviation, Environment and Forests, Defence, Home Affairs and the Kerala Government. The company will have to satisfy three other rules along with this levied by MoEF (Ministry of environment and Forests).
The first phase of the operation requires 500 acres of land. It needs local clearance from the state government which holds 10 % equity. The State government will nominate a director for the board and allot 55 acres of land for it. The work on it is expected to start soon and it will come into commercial operations by December, 2015. The land acquired for this purpose was acquired at market price. An integrated airport city is planned to be developed with multi-speciality hospital, shopping mall, hotels and International schools.
Real estate boom:
The airport’s influence area would include tourist spots like Kummarakom and the backwaters of Azhapuzha. It is also only an hour away from Sabari mala which is the second largest pilgrim centre after Thirupathi. The vicinity of this airport is going to see a huge realty demand for both commercial buildings. Mainly for the hotels which would be packed by the tourists. Residential market may rise too at the periphery of the circle of influence owing to the connectivity and commercial places
