MMRDA to Transform 446 Villages in Palghar and Raigad into Global Economic Hubs
MMRDA to Transform 446 Villages in Palghar and Raigad into Global Economic Hubs
The Mumbai Metropolitan Region Development Authority (MMRDA) takes charge as Special Planning Authority for the development of 446 villages as part of a larger plan to turn the Mumbai Metropolitan Region into a global financial center.
In a significant move to elevate the Mumbai Metropolitan Region (MMR) as a global economic hub, the Maharashtra government has appointed the Mumbai Metropolitan Region Development Authority (MMRDA) as the Special Planning Authority (SPA) to oversee the transformation of 446 villages in Palghar and Raigad districts. This is part of an ambitious plan to holistically develop 1,250 sq km within the larger 6,355 sq km area of MMR.
MMRDA’s focus will be on modernizing villages in Palghar, Vasai, Panvel, Khalapur, Pen and Alibag, which have so far experienced only ad hoc development. The new approach promises world-class infrastructure, including metro connectivity, upgraded roads and bridges, improved sewerage and drainage systems, and regulated real estate development.
This mega-plan, spearheaded by the Maharashtra government, is designed to position MMR as a global financial hub, fostering sectors such as fintech, artificial intelligence, robotics, healthcare, education and entertainment. The state government aims to boost MMR’s GDP to $300 billion by 2030, aligning with NITI Aayog’s vision of a $1.5 trillion economy by 2047.
Key projects in the pipeline include the Vadhavan Port, a new bullet train station in Palghar, and the Virar-Alibag Multimodal Corridor. The MMRDA will work on creating 25-28 lakh new jobs by 2030, with an emphasis on increasing women’s workforce participation. Additionally, the region is expected to see a rise in per capita income, projected to double to $10,000-$12,000 by 2030, with a long-term goal of reaching $38,000 by 2047.
The plan also includes the development of three million affordable homes, with a focus on slum rehabilitation and a boost in tourism through beach, cruise, and nature-based attractions. Logistics hubs will be developed near ports and warehousing capacity will be expanded by 60-70 million square feet by 2030.
The state aims to complete 30 major projects within the next five to six years, attracting $125-135 billion in private sector investment during this period. This extensive initiative is a cornerstone of Maharashtra’s broader vision for inclusive economic growth and global prominence.
