Third Mumbai Project: CIDCO’s ‘Third Mumbai’ Project to Feature Modern Infrastructure and Enhanced Connectivity
Mumbai's Major Upgrade: CIDCO Unveils 'Third Mumbai Project' with Modern Infrastructure and Enhanced Connectivity
The City and Industrial Development Corporation (CIDCO) has announced an ambitious project called ‘Third Mumbai’, which will transform 270 villages located near Navi Mumbai into a modern and sustainable urban landscape.
Part of this extension, known as the Navi Mumbai Airport Influence Notified Area (NAINA), will cover an area of about 560 sq km and include Uran, Panvel, Karjat, Khalapur and Pen talukas.
NAINA Project: Transforming 270 Villages
The aim of the NAINA project is to create a planned and sustainable urban area that meets the development needs of the Mumbai Metropolitan Region. CIDCO has divided the area into 12 town planning schemes to ensure the participation of land owners. The initial phase of the project covers 23 villages, spread over an area of 225.59 sq km. Under the project, essential infrastructure such as roads, drainage systems, schools, parks and health centres will be developed by CIDCO.
Transparency and Speed in the Project
To maintain transparency and speed in the project, CIDCO has got government approval for Town Planning Schemes (TPS) 1, 2, 3 and 4, while draft approvals for TPS 5, 6 and 7 are underway. The project is budgeted at around Rs 14,321 crore, which will boost real estate in the Navi Mumbai region. 23% of the land in the project has been reserved for public utilities, including roads, educational institutions, health centres, police stations and development centres.
Improved Connectivity and Infrastructure Development
CIDCO has already invested around Rs 6,600 crore in the construction of roads, bridges, pedestrian paths, street lighting and drainage facilities. The connectivity of the region will get a further boost through major projects like Mumbai Trans Harbour Link (MTHL) and Navi Mumbai International Airport.
Contribution of Navi Mumbai International Airport
The Navi Mumbai International Airport being developed by Adani Enterprises will be the main focal point of this expansion. The airport is spread over 2,866 acres and is expected to be operational by December 2024. According to a Jefferies report, about $10 billion worth of infrastructure projects will be completed in the Mumbai metro region by the end of 2024, and about $60 billion worth of projects are expected to be added in the next few years.
Impact on Economic Growth and Real Estate
According to the MD of Prajapati Constructions, major projects like MTHL will prove to be important for Navi Mumbai’s economic growth and real estate sector. With growing infrastructure, the region has the potential to emerge as an economic hub in the next decade, complementing the economic strength of Mumbai.
