The City and Industrial Development Corporation on Tuesday unveiled a Rs 16,250 crore budget for the financial year 2026-27, with a strong emphasis on infrastructure development, regional connectivity and affordable housing in Navi Mumbai. The budget projects total receipts of Rs 16,250 crore against an expenditure of Rs 16,150 crore, resulting in an expected surplus of Rs 100 crore.
Officials stated that the financial plan reflects a continued push towards transforming Navi Mumbai into a major urban and economic centre.
Airport expansion and economic zones key priorities
A major highlight of the budget is the focus on the Navi Mumbai International Airport, which is expected to play a central role in the region’s growth. According to CIDCO, the airport is currently handling around 150 daily flight movements and nearly 19,000 passengers, with international operations scheduled to begin by the end of the month.
CIDCO Vice Chairman and Managing Director Vijay Singhal said that with the development of key zones such as Aerocity, EduCity and MediCity, Navi Mumbai is positioned to emerge as a significant economic hub.
Major metro and transport projects to boost connectivity
The budget allocates substantial funds for expanding the region’s transport network. One of the flagship projects is Metro Line 8, a 34.89-kilometre corridor connecting Mumbai’s existing international airport with the Navi Mumbai International Airport. The corridor is expected to handle nearly 10 lakh passengers daily by 2031.
Other proposed infrastructure includes the Thane–NMIA elevated corridor, which aims to reduce travel time between Thane and the airport from around 90 minutes to just 30 minutes.
Additionally, new metro links such as Line 1A connecting Belapur to NMIA and Line 2 connecting Pendhar to NMIA are planned to strengthen integration with the existing Navi Mumbai Metro network.
Specialised city development to attract global investment
CIDCO is also advancing its “Iconic City Development” strategy, which includes the creation of specialised districts designed to attract global investment and talent. Aerocity, spread across 270 hectares, is envisioned as a modern aerotropolis ecosystem supporting aviation-linked businesses.
EduCity in Karanjade is being developed as an education hub, with agreements signed with international institutions such as University of York and Illinois Institute of Technology.
An International Corporate Park is also planned over 155 hectares in Kharghar, further strengthening Navi Mumbai’s business infrastructure.
Engineering milestones and future outlook
CIDCO also highlighted a recent engineering achievement, noting that it set a national record by excavating 812 metres of a water tunnel in a single month using a tunnel boring machine. This milestone reflects the scale and pace of infrastructure work underway in the region.
With a strong pipeline of projects across transport, housing and economic development, the CIDCO budget underscores a long-term vision of positioning Navi Mumbai as a well-connected, sustainable and globally competitive urban centre.
(With inputs from PTI)
