Mumbai: In a major move to strengthen its funding base and fast-track infrastructure delivery, the Mumbai Metropolitan Region Development Authority (MMRDA) has secured nearly 34,000 hectares of government land across the Mumbai Metropolitan Region (MMR) for monetisation and long-term development.
Land Transfer Approved
The land transfer, approved by the Government of Maharashtra, is expected to help the planning authority unlock capital through structured development, while reducing reliance on traditional borrowings.
The move has enabled MMRDA to achieve financial closure for its project pipeline for 2026–27, ensuring that large-scale infrastructure works remain fully funded and execution-ready.
Geographic Spread
Spread across 1,324 villages in Thane, Raigad and Palghar districts, the land parcel measures 33,954.61 hectares and has been handed over on a freehold basis. Key pockets include Kalyan, Bhiwandi and Thane in the Thane district, and Panvel, Alibag and Pen in Raigad, along with parts of Palghar and Vasai.
The authority plans to leverage the land bank for a range of developments, including transit-oriented projects, economic hubs, logistics parks, housing and integrated townships—aimed at generating sustained revenue streams.
Mumbai 3.0 Vision
The initiative is part of a broader strategy being pursued in collaboration with NITI Aayog to position MMR as a high-growth urban region. The region is currently witnessing infrastructure investments worth over Rs 3 lakh crore, including an expanding metro network, multi-modal transport corridors and new growth centres under the Mumbai 3.0 vision.
As per sources, monetising land assets will not only improve financial sustainability but also attract private investment into infrastructure and urban development projects.
With this, MMRDA is looking to scale up project execution while building a self-sustaining funding model, as the region continues to emerge as one of the country’s key economic engines.
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