Maharashtra govt approves Mahindras’ ₹ 1,900 cr tourism project

• The Maharashtra government has approved a film-centric entertainment destination to be developed by the Mahindra Group at an investment of Rs 1,900 crore in a suburb of Mumbai.

• The Bollywood theme-based tourism project will be developed on 82,950.5 sqm area belonging to the Mahindra Group on its plot in suburban Kandivali, according to a recent Government Resolution (GR).

Vital highlights

• A high-powered government committee had earlier this year accorded it the ultra mega project status.

• As per the state tourism policy of 2016, an ultra mega project would require a capital investment of Rs 500 crore and to employ 750 people and complete it in 84 months.

• The GR said since the Mahindra Group’s project fulfils the criteria, it was accorded the ultra mega project status.

• During the Magnetic Maharashtra investor summit here in February, Mahindra Group Chairman Anand Mahindra had said they were exploring to set up a unique film-centric entertainment destination on their land at Kandivali as Mumbai is the heart of Hindi film industry.

• This will create hundreds of direct and indirect jobs, he had said.

• The group already runs a successful tour and leisure services company Mahindra Holidays.

Nod for another ultra mega tourism project

• The government also approved another ultra mega tourism project to be executed by Yashomala Farming and Tourism Private Limited in Raigad district, according to another GR.

• The project will come up on the 63.37-hectare area at Roha.

• Nearly 53 villas will be constructed with an investment of Rs 822.93 crore and the project will provide employment to 1,014 people.

• The GR, however, mentioned that the 53 villas will not be able to enjoy incentives on the stamp duty and the state GST fronts.


Mains Paper 2: Governance

Prelims level: Maharashtra Tourism project

Mains level: Key highlights of the Maharashtra Tourism project

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