Mumbai 3.0 Is No Longer a Vision — It Is Being Delivered: Maharashtra Chief Minister
Mumbai, September 4, 2026: Maharashtra is entering a new phase of accelerated urban and economic development, with large-scale redevelopment, infrastructure expansion, new economic corridors, and technology-led governance set to transform Mumbai and the state’s wider metropolitan regions, Chief Minister Devendra Fadnavis said today.
Speaking at the 6th Edition of Real Estate & Infrastructure Investors’ Summit (REISS) 2026, Fadnavis outlined a long-term development vision targeting a Rs 127.5 lakh crore ($1.5 trillion) economy for the Mumbai Metropolitan Region (MMR) by 2047. He highlighted the state’s 8.8% growth rate in the first quarter, noting that redevelopment projects will be key to future expansion.
Under the state’s cluster approach, Fadnavis stated that Mumbai is targeted to become slum-free within 10 years. For the Dharavi Redevelopment project, the government plans to have 10,000 rehabilitation homes ready by January 2029. Additional plans include transforming BEST bus depots into mixed-use urban spaces.
Key transit and infrastructure proposals include a 24-km sea link from Uttan to Virar, a third Mumbai airport in the Virar region with a detailed project report expected by late 2026, and a new airport for Pune with tenders floating this year. The government is also advancing the deep-draft Vadhavan Port and plans to establish a Mumbai–Pune “Quantum Corridor” to drive technology and Global Capability Centres.
“Mumbai 3.0 is not a future. It has already begun,” Fadnavis said, adding, “The future is quantum and the region will be GCC-smart.”
During the event, Fadnavis unveiled the logo for ‘Naveen Nagpur’, initiated by the Nagpur Metropolitan Regional Development Authority (NMRDA). NAREDCO Maharashtra signed a Memorandum of Understanding with NMRDA in the presence of NMRDA Metropolitan Commissioner Sanjay Meena.
In a separate session, Transport Minister Pratap Sarnaik announced that the Maharashtra State Road Transport Corporation will invite tenders within three months to redevelop 140 bus depots into modern bus ports, utilizing private sector participation to unlock 13,000 to 14,000 acres of land. The announcement coincided with NAREDCO Maharashtra Next Gen’s leadership transition, where Raunak Bandelkar took charge as President from Vikas Jain.
