CM Fadnavis Unveils Vision of Third Mumbai as India's Next Business Capital

What the CM announced

At the India Business Leader Awards (IBLA) on 7 December 2024, Chief Minister Devendra Fadnavis highlighted plans for a new business district in the Third Mumbai region. He said the area of Third Mumbai would be three times the size of the current city of Mumbai and "This will be the next business capital of India."

Sector-specific areas and innovation centres would be developed, including Edu City, Medi City, Global Capability Centres (GCC) and Data Centres.

Key decisions and structural changes

On 21 October 2024, MMRDA officially named the city as Karnala-Sai-Chirner New Town after three villages within the region. MMRDA has been officially functioning as the New Town Development Authority for KSC New Town since late 2024, with jurisdiction over 124 villages transferred. The state Cabinet approved the land acquisition and distribution policy.

Under the framework, land will be developed and a portion returned to original landowners—an approach aimed at easing acquisition challenges while accelerating implementation.

The sector-specific zones

Edu City is an education hub hosting campuses of world-class universities and research institutions, with five top global universities already invited to establish branches. Through Memorandums of Understanding, five renowned educational institutions have expressed interest: the University of Aberdeen (Scotland), the University of York (UK), the University of Western Australia (Australia), the Illinois Institute of Technology (USA), and the Istituto Europeo di Design (Italy).

Medi City is a cluster for healthcare and biotech facilities, including specialty hospitals and medical research centers. Global Capability Centre Zone targets multinational companies' back-office and tech operations, with an ambitious goal to attract 2,000 GCCs within 2–3 years.

Data Centre Zone is projected to host up to 65% of India's future data storage capacity, with plans to power these centers with 100% green energy by 2030.

Infrastructure and connectivity

The MTHL (Atal Setu), a monumental sea-link bridge connecting Sewri in Mumbai to Nhava Sheva in Navi Mumbai, was inaugurated in early 2025. With the Mumbai Trans Harbour Link now operational, travel time from South Mumbai to Third Mumbai region is about 20 minutes by car.

The Navi Mumbai International Airport's first phase is in advanced construction with a potential opening by late 2025, and the Panvel-Karjat suburban rail line is over 50% complete. Metro Line 8 (the Gold Line) will connect Mumbai's existing airport to the new Navi Mumbai Airport, and the Panvel-Karjat double line railway extension will integrate Raigad district towns into Mumbai's local train network.

Current status and next steps (as of July 2026)

The Maharashtra government has initiated comprehensive aerial and ground surveys across 124 villages to facilitate structured development. The MMRDA is overseeing these surveys, which aim to enhance connectivity and optimize land use. The master plan is expected to be completed by August 2026.

Blackstone Group announced a $11 billion investment in Maharashtra in January 2025, with $5 billion specifically allocated to KSC New Town, highlighting investor confidence in the region's economic potential.

What this changes

Mumbai 3.0 is aimed at decongesting Mumbai by creating planned urban nodes with integrated economic, residential and employment ecosystems. This will be positioned as the next major urban frontier in the Mumbai Metropolitan Region, intended to attract investment and generate employment while supporting structured development in adjoining districts.

MMRDA as NTDA will be responsible for overseeing the urban planning and development of KSC New Town, including managing land acquisition, regulating construction activities, and ensuring efficient infrastructure development. This represents a shift from prior fragmented planning by CIDCO and other agencies.