Mumbai Metropolitan Region Development Authority Signs Shareholder Agreement with Raigad-Pen Growth Centre
The Mumbai Metropolitan Region Development Authority (MMRDA) has signed a significant agreement with the Raigad-Pen Growth Centre in a move aimed at developing the region into an integrated township project.
Key Features of the Project:
- Smart City Development: The project aims to develop the Raigad-Pen Growth Centre as a smart city.
- Expansion in Pen Taluka: The project involves expansion in Pen taluka of Raigad district.
- Connectivity to Major Port Areas: The township will be connected to major port areas.
- Social Housing and Self-Reliance: The project envisions a self-reliant township with provisions for social housing.
Project Framework and Objectives:
The project is expected to be developed under an integrated township policy framework, with a focus on planned urbanisation and infrastructure-led growth in the region.
The project forms part of the larger Mumbai 3.0 vision aimed at decongesting the metropolis and promoting balanced regional development across the Mumbai Metropolitan Region.
Land Acquisition Framework:
MMRDA has announced a participatory land acquisition framework for the new town development area (NTDA), offering landowners multiple options.
- Mutual Consent-Based Acquisition: Landowners can acquire land through mutual consent.
- Compensation through Development Rights: Compensation can be provided through development rights such as FSI/TDR.
- Land Pooling Model: Landowners will receive 22.5% of developed land, ensuring their continued stake in the project.
About the New Town Development Area (NTDA):
The NTDA covers around 323.44 square kilometres across 124 villages in Uran, Panvel and Pen talukas of Raigad district in the influence zone of the Atal Setu corridor.
The NTDA is expected to drive large-scale planned urbanisation and infrastructure-led growth.