Concept-based Iconic City Development Model Policy on Cidco Land

approved

The state cabinet approved a concept-based iconic city development model policy for proper utilisation of land banks of various agencies including Cidco. The policy allows agencies to create integrated residential colonies or international commercial areas based on relevant concepts. Construction and development operators (CDOs) will be appointed through a tender process to build these colonies or commercial areas with development rights and the ability to sell flats and commercial properties. The policy includes time-bound construction conditions, responsibilities of CDOs, developer selection process, development plan, land possession transfer, revenue share distribution, payment terms, and project completion provisions.