Indore: The Madhya Pradesh government will develop an aerocity on approximately 11 hectares of land near Indore's Devi Ahilyabai Holkar Airport, which is expected to attract an investment of Rs 500 to 600 crore, an official said on Tuesday.
An aerocity is a modern, planned commercial hub built right next to an international airport to combine travel, business, and leisure in one convenient location.
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Indore Development Authority Chief Executive Officer (CEO) Parikshit Jhade told reporters after the IDA's board of directors meeting that the aerocity will be developed approximately 500 metres from the airport.
He added that the project will also provide direct connectivity to the Indore-Pithampur Economic Corridor.
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"Aerocity will be permitted in addition to residential developments, hotels, and office activities. Initially, we expect an investment of Rs 500-600 crore in aerocity," Jhade said.
He said a theme-based amusement park will be developed on 3.83 hectares of land near the city's Meghdoot Garden, and its blueprint is being prepared.
