Archive · 4 Sep 2026
Maharashtra Unveils Mumbai 3.0 Growth, Redevelopment and Technology Push
Maharashtra says Mumbai is entering a major new period of growth called Mumbai 3.0.
The government wants to rebuild older neighborhoods and make better use of land.
It plans to prepare 10,000 new homes for eligible Dharavi residents by January 2029.
Some bus and transport sites could become modern places with shops, homes and public facilities.
New roads, a sea link and airports are planned to improve travel.
The Vadhavan Port could create jobs and connect more parts of Maharashtra to trade.
The government also wants Mumbai and Pune to become important technology and business centers.
Officials say artificial intelligence could change many jobs within the next 1,000 days.
They are asking private developers and infrastructure companies to help build these projects.
Chief Minister Devendra Fadnavis presented a long-term urban and economic development vision at REIIS 2026 in Mumbai.
The government plans cluster redevelopment, including 10,000 Dharavi rehabilitation homes by January 2029 and redevelopment of BEST depots.
A proposed Uttan–Virar sea link, a third airport near Virar and Vadhavan Port are intended to create new growth corridors.
Maharashtra is targeting a $1.5 trillion Mumbai Metropolitan Region economy by 2047, supported by data centers, smart manufacturing and new urban centers.
The state also plans to redevelop 140 MSRTC depots into Bus Ports and develop the Mumbai–Pune corridor as a Quantum Corridor.
- Who
- The Maharashtra government, led by Chief Minister Devendra Fadnavis, along with Transport Minister Pratap Sarnaik, developers and infrastructure investors.
- What
- A broad plan for redevelopment, transport expansion, new economic corridors, technology-led governance and private investment.
- When
- The plans were outlined at REIIS 2026; the Dharavi housing target is January 2029, while the third-airport DPR is expected by the end of 2026.
- Where
- Mumbai, the Mumbai Metropolitan Region and other Maharashtra regions including Pune, Nagpur, Palghar, Thane and the interior districts.
- Why
- To support economic growth, modernize urban and transport infrastructure, create jobs and develop new technology-driven economic ecosystems.
- Maharashtra growth rate
- 8.8% in the first quarter, compared with India's reported 7.6%.
- Mumbai property registrations
- About 12,500 registrations were recorded in August 2026, while cumulative registrations crossed 1.06 lakh.
- Government revenue
- Property registrations generated approximately ₹9,355 crore in government revenue.
- MMR economic target
- The Mumbai Metropolitan Region is targeting a $1.5 trillion economy by 2047.
- Uttan–Virar sea link
- The proposed link would be 24 kilometers long and is intended to provide signal-free connectivity from Nariman Point to Virar.
- MSRTC Bus Ports
- Tenders are expected within three months for redevelopment of 140 depots, potentially unlocking about 13,000 to 14,000 acres.
- AI and employment
- Fadnavis said AI could change the nature of 70% of jobs within the next 1,000 days.