5. The City and Industrial Development Corporation of Maharashtra (CIDO)
It was formed on 17 March 1970 under the Indian Companies Act of 1956; The corporation is controlled by a board of directors appointed by the state government. The corporation is managed according to the Companies Act .
CIDCO functioning as New Town Development Authority (NTDA) and Special Planning Authority (SPA) of Government of Maharashtra for development of new towns by planning and developing entire urban infrastructure,
CIDCO was given a mandate to undertake all development as works and recoup the cost of development from the sale proceeds of land and constructed property. Based on the mandate, CIDCO set several broad objectives for itself. It aims to prevent population influx into Mumbai, diverting it to the new town, by providing an urban alternative which will lure citizens wishing to relocate to a city of peace and comfort. Immigrants are to be absorbed from other states and efficient and rational distribution of industries is promoted by preparing a ground for them who otherwise could have opted for Mumbai. CIDCO plans to provide basic civic amenities to all and elevate standards of living for people of all social and economic strata. Moreover, it wants to offer a healthy environment and energizing atmosphere in order to utilize human resources at their fullest potentials.
CIDCO started to develop land and provide the required physical infrastructure such as roads, bridges, drainage and sewerage systems, drinking water systems, and street lights. It has built a stock of houses supported by social infrastructure such as community centers, markets, parks, education institutes, and playgrounds. It promotes commercial activities, warehousing, transportation, and decentralisation of government administration.
