Mumbai: Maharashtra’s ambitious vision of a “Third Mumbai” has moved closer to execution, with the state government finalising a comprehensive land acquisition and distribution policy for the proposed mega urban region.
Spread across 323.44 sq km in Raigad district, the project—planned by the Mumbai Metropolitan Region Development Authority—will be developed in the Karnala–Sai–Chirner (KSC) New Town area, falling within the influence zone of the Atal Setu. A dedicated New Town Development Authority has been tasked with executing the plan across Panvel, Pen and Uran talukas.
The state government has issued a formal resolution outlining a land policy that seeks to balance development with stakeholder interests. Under the framework, land will be developed and a portion returned to original landowners—an approach aimed at easing acquisition challenges while accelerating implementation.
The project, seen as a flagship initiative of Chief Minister Devendra Fadnavis, was approved by the state Cabinet last month. Fadnavis has described the proposed city as “three times bigger than Mumbai” and envisioned it as India’s next major business capital.
Backed by strong financial commitment, the MMRDA has earmarked ₹4,000 crore out of its ₹4,600 crore budget to kickstart the project. The broader plan—often referred to as “Mumbai 3.0”—aims to decongest the existing metropolis by developing well-planned urban nodes integrating housing, industry and employment hubs.
Improved connectivity is expected to play a crucial role. The operationalisation of the Atal Setu has already reduced travel time between Mumbai and Navi Mumbai to just over 20 minutes, opening up new growth corridors in the region.
To attract global investments, the policy prioritises projects bringing foreign direct investment, with up to 25% of the developed land reserved for such ventures. Eligible investors will be required to commit substantial capital and land use within a defined timeframe, aligning with state industrial policies.
Officials said the cost of land acquisition, compensation and infrastructure development will be recovered from industry allottees in phases, with an additional establishment charge levied by the authority.
A high-level committee has been constituted to oversee implementation, signalling the government’s intent to fast-track the project. With supporting initiatives like the Raigad Pen Growth Centre and Kharbav Integrated Business Park also in the pipeline, the “Third Mumbai” is being positioned as the next major urban and economic frontier beyond Mumbai’s saturated core.
