Planned and developed by CIDCO, New Aurangabad holds the singular distinction of obtaining the blessings of the Late Prime Minister of India Mrs. Indira Gandhi, who inaugurated the project signing the development plan with the remark: “The plans look very good on paper, let us see how it is implemented”.
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A new industrial cum residential township has been planned at Waluj in Aurangabad by CIDCO.
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Subsequently the stay has been vacated in the month of July 2008 and CIDCO is on way to prepare Development Plan for the Fringe Area with minimum acquisition of land for infrastructure and social facilities.
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New Aurangabad (as the project was known) is the second most successful project to be undertaken by CIDCO after Navi Mumbai.
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New Aurangabad Project was also fortunate because Mrs. Indira Gandhi once visited the project after the implementation of the plan started, and also planted a tree at New Aurangabad, which is nurtured and maintained by CIDCO as a precious treasure.
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The yet to be chosen private sector partner will hold 74% equity while the Airports Authority of India (AAI) and the Government of Maharashtra (through CIDCO) each holding 13%.