MMRDA Signs Shareholder Agreement for Raigad-Pen Growth Centre
The Mumbai Metropolitan Region Development Authority (MMRDA) has taken a significant step towards developing a new integrated township project in Raigad district by signing a shareholder agreement with Raigad-Pen Growth Centre.
This move forms a cornerstone of the Mumbai 3.0 vision, which aims to resolve congestion in Mumbai by promoting balanced regional development across the Mumbai Metropolitan Region.
Key Features of the Project:
- Smart City Development: The project is designed as a smart city with the proposed inclusion of self-reliant housing features.
- Regional Development: The project aims to promote balanced regional development across the Mumbai Metropolitan Region, resolving congestion in Mumbai.
- Sustainable Urbanization: The ongoing project is expected to drive urbanization and infrastructure growth in a large area, significantly transforming the region.
- Participatory Framework: MMRDA's strategy for land acquisition includes a participatory framework offering multiple options to landowners, ensuring their participation and benefiting them through compensation and developed land shares.
The project is expected to have a significant impact on the region's urbanization and infrastructure growth, transforming the area in the process.