Mumbai, Feb 16: The Mumbai Metropolitan Region Development Authority (MMRDA) today presented its Budget for the financial year 2026–27 with a total outlay of Rs 48,072.57 crore, marking its first surplus Budget since 2017–18. MMRDA had a deficit of Rs 7,468 crore in 2024–2025. In just three years, the authority has achieved a Rs 17 lakh surplus, thus signalling a decisive financial turnaround.
The Budget reflects not merely fiscal balance, but strengthened institutional discipline, improved revenue mobilisation, calibrated borrowing and enhanced global credibility. Even while expanding one of the largest infrastructure pipelines in India, MMRDA has restored fiscal equilibrium, reinforcing its position as India’s most financially stable regional development authority.
With Rs 48,072.57 crore in estimated receipts and Rs 48,072.40 crore in proposed expenditure, the Budget projects a surplus of Rs 17 lakh. The surplus is the outcome of structured land monetisation, strengthening of the Urban Transport Fund (UTF), improved project-linked revenues and capital mobilisation through international partnerships and institutional financing.
87% of Budget directed towards projects
In a strong demonstration of development-first governance, Rs 42,026.14 crore — 87.42% of total expenditure — has been allocated to development projects and schemes, underlining MMRDA’s commitment to capital deployment at scale.
The proposed Budget outlay of Rs 48,072.57 crore is 58.57% higher than the revised estimate of Rs 30,316.18 crore for 2025–26. Proposed expenditure of Rs 48,072.40 crore is 53.52% higher than the revised estimate of Rs 31,313.13 crore for the previous year.
This scale of expansion, coupled with a surplus position, marks a structural shift in MMRDA’s financial trajectory. From FY 2017–18 to FY 2026–27, the Authority recorded deficits across most years before achieving fiscal balance with a marginal surplus of Rs 0.17 crore in FY 2026–27.
Transforming the Mumbai Metropolitan Region
The 2026–27 Budget accelerates a coordinated regional transformation strategy integrating mobility, economic decentralisation, water security, climate resilience and housing reform.
Chief Minister Devendra Fadnavis said:
“MMRDA’s first surplus Budget since 2017–18 marks a defining institutional milestone. This Budget reflects global investor confidence and a long-term infrastructure-led growth vision. It positions the Mumbai Metropolitan Region as a modern, investment-ready and globally competitive urban region.”
Deputy Chief Minister and Chairman, MMRDA, Shri Eknath Shinde said: “With 87% allocation towards projects, this Budget demonstrates focused, accountable governance. Under the Growth Hub concept, MMRDA has set a benchmark for structured regional expansion.”
Dr Sanjay Mukherjee, IAS, Metropolitan Commissioner, MMRDA, said: “This surplus Budget is the outcome of fiscal discipline, calibrated capital mobilisation and sustained infrastructure delivery. We are simultaneously expanding connectivity, decentralising growth through Mumbai 3.0 and strengthening regional sustainability. This Budget marks a transition from financial stress to financial stability while maintaining development momentum at scale.”
Rebooting MMR: Underground corridors and strategic connectivity
MMRDA continues to expand high-capacity underground mobility infrastructure to decongest the urban core and enable faster inter-city travel.
Allocation (in crore)
• Orange Gate to Marine Drive Coastal Road Underground Tunnel – Rs 1,250.00
• Gaimukh to Fountain Hotel Underground Tunnel – Rs 75.00
• Thane to Borivali Four-Lane Underground Tunnel – Rs 3,029.51
• Mumbai Integrated Tunnel (BWSL–BKC–HSR–T2 Connectivity) – Rs 1,189.00
Total – Rs 5,543.51
These projects form the backbone of a long-term decongestion and east-west connectivity strategy.
Major arterial connectivity and multi-ring road network
The Budget strengthens the multi-ring road strategy to redistribute traffic flows and support economic growth corridors.
Allocation (in crore)
• Atal Setu to Mumbai–Pune Expressway Link – Rs 603.00
• Anand Nagar to Saket Elevated Road – Rs 880.12
• Thane Coastal Road (Balkum–Gaimukh) – Rs 1,025.77
• Fountain Hotel to Bhayander Elevated Road – Rs 75.00
• Kalyan Ring Road – Rs 600.00
• Worli–Sewri Elevated Corridor – Rs 936.07
• Extnd. Mumbai Urban Infrastructure Projects – Rs 2,362.20
• Mumbai–Vadhavan Expressway Corridor (Uttan–Virar Sea Link) – Rs 2,000.00
• Mumbai to Samruddhi Expressway – Saket to Aamne Link Road – Rs 500.00
• Eastern Freeway Chedda Nagar, Ghatkopar to Thane Extn. – Rs 1,106.75
• Elevated Rd. from Kalyan Murbad to Badlapur Road Parallel to Waldhuni River – Rs 200.00
• Gaimukh to Payegaon Creek Bridge – Rs 682.10
• Kasarvadavali, Thane to Kharbhav Creek Bridge – Rs 840.71
• Kolshet Thane to Kalher Bhiwandi Creek Bridge – Rs 105.51
• Elevated Road to NH-4 to Katai Naka – Rs 900.00
Total – Rs 12,816.53
Reshaping MMR through Growth Hubs (Mumbai 3.0)
The Budget significantly advances economic decentralisation through structured urban expansion under the Growth Hub framework.
Allocation (in crore)
• KSC (Karnala–Sai–Chirner) New Town – Rs 4,000.00
• Raigad Pen Growth Centre – Rs 500.00
• Kharbav Integrated Business Park – Rs 100.00
Total – Rs 4,600.00
The Rs 4,000 crore allocation to Mumbai 3.0 marks the operationalisation of MMR’s next urban frontier, designed to decongest Mumbai, attract global capital and create structured employment ecosystems aligned with NITI Aayog’s Growth Hub concept.
MMR integrated metro network
MMRDA continues execution of India’s largest metro expansion being implemented by a single agency.
Key corridors include:
• Metro Line 2A (D.N. Nagar to Dahisar) – Rs 45.19 crore
• Metro Line 2B (D.N. Nagar to Mandale) – Rs 1,224.60 crore
• Metro Line 4 (Wadala–Kasarvadavali) – Rs 3,630.71 crore
• Metro Line 4A (Kasarvadavali–Gaimukh) – Rs 176.54 crore
• Metro Line 5 (Thane–Bhiwandi–Kalyan) – Rs 1,309.30 crore
• Metro Line 5A (Extn.) Durgadi to Ulhasnagar – Rs 183.35 crore
• Metro Line 6 (Swami Samarth Nagar–Kanjurmarg) – Rs 2,407.78 crore
• Metro Line 7 (Andheri (E) to Dahisar (E)) – Rs 24.05 crore
• Metro Line 9 & 7A (Dahisar–Mira Bhayander) (Andheri–CST Airport) – Rs 1,151.87 crore
• Metro Line 10 (Gaimukh to Miraroad) – Rs 100.00 crore
• Metro Line 12 (Kalyan to Taloja) – Rs 1,054.54 crore
• Metro Line 13 (Ghodbunder to Virar) – Rs 200 crore
• Metro Line 14 (Kanjurmarg to Badlapur) – Rs 500 crore
• Mandale Metro Bhavan – Rs 403.31 crore
• Employee Resident at Malvani, Malad & Mandale – Rs 248.91 crore
• Kalyan Shilphata Junction to Rajnoli Chowk Bhiwandi Flyover – Rs 150.00 crore
• Transport Stack – Digital Mobility Platform – Rs 25.00 crore
• Planning & Multi Model Integration Design for Metro – Rs 919.63 crore
• Metro Line 7 Elevated FOB – Rs 84.10 crore
Total – Rs 13,838.88 crore
The Metro expansion reinforces high-capacity public mobility across the region while supporting long-term congestion mitigation.
Social infrastructure and inclusive urbanism
Slum Rehabilitation & Housing
• Mata Ramabai Ambedkar Nagar SRA – Rs 551.00 crore
• Rehabilitation & Resettlement – Rs 150.00 crore
• Affordable Rental Housing – Rs 30.33 crore
Total – Rs 731.33 crore
Water source and regional sustainability
Projects include:
• Surya Regional Water Supply – Rs 267.00 crore
• Deharji Medium Project – Rs 247.07 crore
• Poshir Dam & Other Projects – Rs 466.80 crore
Total Allocation – Rs 980.87 crore
These projects will enhance long-term water resilience across Mira–Bhayander, Vasai–Virar, Palghar and adjoining regions.
Green MMR – climate resilient future
Focused on:
• Blue-Green Infrastructure
• Integrated Waste Management
• Renewable Energy Integration
• Sustainable Mobility
• Mumbai Climate Week
Total Allocation – Rs 250.00 crore
This marks the institutional mainstreaming of climate resilience in capital budgeting.
Iconic memorials of eminent leaders
• Bharatratna Dr Babasaheb Ambedkar Grand Memorial at Indu Mill – Rs 400.00 crore
• Late Balasaheb Thackeray National Memorial Part 1 & 2 at Mayor Mumbai Residency – Rs 171.50 crore
Total Allocation – Rs 571.50 crore
Information technology
Focused on:
• Integrated Digital Delivery Program (IDDP), Regional Information System (RIS), ERP System & Others
Total Allocation – Rs 235.34 crore
Revenue framework
Estimated receipts of Rs 48,072.57 crore include:
• Land Sale – Rs 11,177.95 crore
• Urban Transport Fund – Rs 6,368.42 crore
• Borrowings – Rs 23,711.16 crore
• State Subordinate Loans – Rs 3,520.00 crore
• Project Operating Revenue – Rs 441.71 crore
• Government Grants & TDR – Rs 1,189.14 crore
• Ground Rent & Interest – Rs 1,664.19 crore
The surplus position reflects structured land monetisation, UTF strengthening and disciplined financial planning.
Also Watch:
A structural turning point for MMR
The 2026–27 Budget represents a consolidation phase in MMRDA’s institutional journey, combining fiscal prudence with record-scale infrastructure deployment.
It signals:
• Financial stabilisation after five years
• Acceleration of mobility corridors
• Operationalisation of Mumbai 3.0
• Strengthening of water and climate resilience
• Decentralised economic growth
More than a financial statement, this Budget serves as a roadmap for transforming the Mumbai Metropolitan Region into a globally competitive, investment-ready and sustainable urban ecosystem.
To get details on exclusive and budget-friendly property deals in Mumbai & surrounding regions, do visit: https://budgetproperties.in/
