Firm promoted by arms dealer gets nod for township

MUMBAI: Suresh Nanda is no longer involved in this project... Our project has now got all clearances and we are looking for a joint venture partner before finalizing the plans. SPOKESPERSON

Former arms dealer and naval officer Suresh Nanda’s family-promoted special township project spread across 260 acres in Raigad has got the go-ahead from the Centre.

The Centre’s expert appraisal committee on infrastructure and the Coastal Regulatory Zone (CRZ) projects approved the township to be built by Claridges Sez Developers Private Limited in its meeting held on October 30.

According to documents registered with the ministry of corporate affairs, the company’s directors include Paul Nanda, Suresh Nanda’s brother and Peter Punj, his son-in-law.

“Suresh Nanda is no longer involved in this project. He has no stakes or interest in it. His family members continue to be directors. Our project has now got all clearances and we are looking for a joint venture partner before finalizing the plans, “said a spokesperson associated with the township.

The project is estimated to cost nearly ₹7,500 crore according to the minutes of the meeting. It had got clearance under the state government’s special township policy under the former CongressNCP government, said a senior urban development department official.

It got locational clearance in 2015. The township, being built in Khalapur tehsil of Raigad, will include 148 buildings with approximately 13,520 flats to be built over the next six phases including homes for the economical weaker section as mandated under the state’s policy. It will have several amenities including a school, hospital, IT park, hotels, resort, commercial buildings and convention centre.

The location of the township is close to the upcoming new international airport. The project falls in the Navi Mumbai Airport Influence Notified Area (Naina), an area that is bigger than Mumbai. Majority of the land in this region has been purchased by developers and is expected to now see a construction boom. a.

The spokesperson, whose details have been registered by the company with the ministry of corporate affairs said, “The decision to withdraw approval as a Sez was due to market conditions.” Suresh Nanda had run into trouble with the Central Bureau of Investigation (CBI) in the Barak missile kickbacks deal in 2008 but the case against him has since been closed.