Mumbai: A day after a shareholder agreement was signed for PenRaigad growth centre, more details about Mumbai 3.0 have emerged.
The Mumbai Metropolitan Region Development Authority (MMRDA) has successfully secured 216 acres of land for the development of a new growth centre in Raigad district, marking a major milestone driven by an overwhelming response to its participatory land acquisition policy for Mumbai 3.0.
The participation from landowners is seen across the Raigad Pen growth corridor, where the proposed New Town Development Area (Mumbai 3.0) is being planned.
The growth centre is strategically positioned to leverage proximity to key transformative infrastructure including Atal Setu (MTHL), Navi Mumbai International Airport and Virar–Alibaug Multi-Modal Corridor (VAMMC).
The project is expected to generate more than 200,000 highly skilled, well-paid direct jobs, along with substantial indirect employment. It will attract large-scale FDI and private investments and significantly contribute to regional GDP growth.
MMRDA has introduced a first-of-its-kind participatory land acquisition framework, empowering landowners with multiple options to actively participate in shaping the future of Mumbai 3.0.
Under this people-centric policy, landowners are being offered multiple flexible options ensuring transparency, fairness, and participation.
These include mutual consent-based acquisition with compensation determined through agreement under the relevant provisions of the Maharashtra Regional and Town Planning Act, 1966; compensation through Development Rights, including FSI/TDR, with provisions for additional incentives where applicable; and the Land Pooling Model (Undeveloped Land for Developed Land), offering 22.5% developed land return to landowners on the lines of the CIDCO model, ensuring they remain stakeholders in the region’s long-term growth.
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The 22.5% developed land will be allocated in accordance with applicable planning norms and guidelines such as landowners in Uran and Panvel talukas will be allotted 22.5% developed land in Uran taluka, while landowners in Pen taluka will be allotted 22.5% developed land in Pen taluka.
Consent forms will be made available from April 27, on MMRDA’s official website. Landowners are required to submit the consent form.
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