The City and Industrial Development Corporation of Maharashtra (CIDCO) is an Indian city planning agency and richest government authority in India which is formed and controlled by the Government of Maharashtra. CIDCO was formed on 17 March 1970 under the Indian Companies Act of 1956; its purpose at the time of its creation was to develop a satellite town to Mumbai, Maharashtra, and now 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, providing municipal services, executing large scale infrastructure projects including Navi Mumbai International Airport, Navi Mumbai Metro. CIDCO also launched India's first smart city project. CIDCO has ownership of all plots in new cities, underutilised funds about Rs 40,000 crore and reserved Land Bank; which makes CIDCO richest Government Authority.