Mumbai 3.0 Begins: Maharashtra Plans New Growth Corridors, Redevelopment Projects & Technology Push

Maharashtra is set to undergo a new era of rapid urban and economic growth, as announced by Chief Minister Devendra Fadnavis at the Real Estate & Infrastructure Investors Summit. The state government aims to transform Mumbai and surrounding regions through large-scale redevelopment, infrastructure expansion, new economic corridors and technology-driven governance.

Fadnavis highlighted Maharashtra's success in regulation, having been the first state to establish a regulator, which has helped create a fair playing field for developers. The real estate sector is currently contributing significantly to Maharashtra's 8.8% growth in the first quarter of the year, with property registrations hitting a record high in August 2026.

The government plans to clear slums in Mumbai with a cluster approach, aiming to have 10,000 rehabilitation homes ready in Dharavi by early 2029. Additionally, redevelopment projects for BEST depot lands will combine transport infrastructure with mixed-use urban development, including residential, commercial, and public spaces. The state's long-term vision is to make the Mumbai Metropolitan Region a $1.5 trillion economy by 2047, with a focus on urbanization and creating centers for data centers, smart manufacturing, and other key sectors.

To achieve this, new connectivity corridors like the Uttan-Virar sea link, a third airport in Virar, and the Vadhavan Port expansion are being planned.