Mumbai: The Mumbai Metropolitan Region Development Authority is on track to become one of Asia’s largest landowners, with over 83,000 acres under its control, as it gears up to drive the next phase of urban expansion in the Mumbai Metropolitan Region (MMR).
MMRDA Metropolitan Commissioner Sanjay Mukherjee, while speaking to the Indian Express, said the authority has significantly evolved in recent years, stepping firmly into its role as a regional planner and city developer. Strengthening financial capacity has been central to this transformation.
Over the past two years, MMRDA has secured investments worth over USD 272 billion at global platforms like the World Economic Forum Annual Meeting in Davos. Additionally, it has tied up a loan pipeline of Rs 4.07 lakh crore from institutions such as the Power Finance Corporation and the Indian Railway Finance Corporation.
Mukherjee highlighted that building internal equity through land acquisition has been a key strategy. “Once the land handover process is completed, MMRDA will emerge as the largest landowner in Asia,” he said, as quoted by the Indian Express.
A major focus area is the ambitious ‘Third Mumbai’ project. Spread across 323.44 sq km, around 104 sq km has been earmarked for development, while the remaining land includes protected mangroves and forest areas that will remain untouched. The development plan aims to attract industries such as semiconductors, data centres, logistics, and artificial intelligence, along with dedicated international hubs like Swiss and Japanese zones.
Plans On Third Mumbai Project
MMRDA has invited landowners in the Third Mumbai region to voluntarily participate in the development process through an online system, assuring that there will be no forced acquisition. Officials stressed that development will be gradual and not rushed, citing the example of Bandra-Kurla Complex (BKC), which still has available plots decades after its inception. Preliminary work for Third Mumbai, including land-use planning, hydrological studies and soil testing, is already underway.
Looking ahead, MMRDA’s broader vision for the MMR focuses on improving the quality of life by enabling people to live in more spacious environments beyond the congested core city. This vision is supported by large-scale infrastructure projects, particularly the expanding metro network, aimed at ensuring seamless connectivity across the region. With a massive land bank and strong financial backing, MMRDA is positioning itself as a key driver of Mumbai’s next urban transformation.
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