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MMRDA has implemented the mega infrastructure project of the Mumbai Trans Harbor Link Project (MTHL). This project will trigger development in and around the region where the MTHL lands in Navi Mumbai Area because of opening of the land beyond island city of Mumbai for development. This area is well connected by Navi Mumbai International Airport, suburban railway network, metro rail network, Multi-modal corridor, Mumbai Goa highway, Mumbai-Pune expressway, JNPT based Dedicated Freight Corridor, the area is expected to attract large scale development of IT/ITeS, data hubs, Fintech, logistic parks, educational and health sector.
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As per the MMRDA Act, 1974, MMRDA has been entrusted with the responsibility to bring about a balanced development in accordance with the Regional Plan. Therefore, to achieve the same and with the intention of generating new revenue resources to finance the infrastructure and development in MMR.
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Given this advantageous location and the anticipated surge in private investments in the MTHL Influence Area, there exists tremendous scope for land value capture. With the entire land under its jurisdiction, MMRDA, as the Planning Authority, is uniquely positioned to leverage this opportunity through land incentivization instruments, strategic commercialization, and anchor investor engagement.
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The Authority has approved the development of Growth Centers in MMR using various planning tools such as TPS/ PPP model, etc. Appointment of MMRDA as NTDA for these developable areas will enable MMRDA to generate revenue which can be re-invested to execute the large scale infrastructure projects required to cater the rapid urbanization and achieve balanced development of the region