MMRDA ropes Singapore-based firm to prepare Mumbai 3.0 master plan, what it means for the real estate sector: Explained
The Mumbai Metropolitan Region Development Authority (MMRDA) has partnered with a Singapore-based firm to develop a comprehensive master plan for Mumbai 3.0, covering 323.44 sq km across 124 villages in Raigad district. This initiative aims to enhance urban development and infrastructure, potentially transforming the real estate sector by creating new residential, commercial, and mixed-use hubs. The plan is expected to boost investor confidence, particularly with the upcoming Navi Mumbai International Airport and supportive land policies encouraging landowner participation.