The Mumbai Metropolitan Region Development Authority (MMRDA) has initiated the implementation of the Mumbai 3.0 project by aggregating 216 acres in the Raigad district, in conjunction with the signing of a shareholders’ agreement to advance the project into the execution phase. The land has been secured within the Raigad Pen growth corridor, where the proposed New Town Development Area for Mumbai 3.0 is currently being planned.
This aggregation signifies an early achievement under MMRDA’s participatory land acquisition framework, which has garnered a strong response from landowners in the area. “Mumbai 3.0 signifies a new era in urban development, one that is genuinely for the people and by the people.
Through this participatory model, we are not merely acquiring land, but fostering trust and establishing a framework where citizens become collaborators in development,” stated Maharashtra Chief Minister Devendra Fadnavis. According to Maharashtra Deputy Chief Minister and MMRDA chairman, Eknath Shinde, the strong response from landowners and the successful aggregation of land demonstrate an increasing trust in the participatory model.
As part of this participatory framework, landowners are being presented with various options, including mutual consent-based acquisition under the Maharashtra Regional and Town Planning Act, 1966, compensation through development rights such as floor space index (FSI)/transferable development rights (TDR), and a land pooling model that provides a 22.5% return of developed land.
The feedback regarding our participatory land acquisition policy has been positive. The acquisition of 216 acres in such a brief period demonstrates the trust of citizens in this approach. Mumbai 3.0 is evolving into a development model driven by the community, where landowners play a vital role in shaping a new urban future. This achievement provides us with the impetus to expedite on-ground implementation,” stated Sanjay Mukherjee, Metropolitan Commissioner of MMRDA.
The shareholders’ agreement, which formalizes the transition of the project from the planning phase to actual execution, was signed on Saturday. Officials have indicated that the aggregation of land was made possible by MMRDA’s people-focused strategy, which offers landowners various participation options, such as direct compensation, development rights, and land pooling. This approach has enabled a relatively swift consolidation of land parcels within the corridor.
The proposed growth center is strategically positioned to take advantage of its proximity to significant infrastructure projects, including the Atal Setu, Navi Mumbai International Airport, and the Virar-Alibaug Multi-Modal Corridor, all of which are anticipated to improve connectivity and foster the development of the region as a new economic hub.
The Raigad Growth Centre is envisioned as a comprehensive urban ecosystem featuring dedicated districts for technology and financial services, global capability centers, data centers, microelectronics, IT/ITeS, business process services, healthcare and knowledge services, as well as logistics and warehousing, complemented by essential social infrastructure.
The project is projected to create over 200,000 highly skilled, well-compensated direct jobs, alongside substantial indirect employment opportunities, while attracting significant foreign direct investment and private capital, thereby contributing to the growth of the regional economy.
