To Woo Investment, Mmrda Plans 6 Mega Growth Centres, Real Estate News, ET RealEstate

October 5, 2023

MUMBAI: In the hopes of attracting investment opportunities through proximity to big-ticket infrastructure projects, the Mumbai Metropolitan Region Development Authority (MMRDA) is set to develop six mega growth centres hosting townships and industries in Bhiwandi, Alibaug, Kalyan and Thane.

The agency expects the Kharbav growth centre, to be set up near the Bhiwandi Nizampur City Municipal Corporation, to be an investment magnet given that major infrastructure projects like Virar-Alibaug multi-modal, Mumbai-Ahmedabad high-speed rail and dedicated freight corridors will pass through the area.

Proximity to infrastructure projects is also expected to work in favour of the growth centre in Poynad, Alibaug—it will be close to the Mumbai Trans Harbour Link, which is near completion, the Virar-Alibag multi-modal corridor, and the under-construction second international airport in Mumbai. An MMRDA official said the initiative at Poynad is aimed at “rejuvenating local areas, offering fresh opportunities, particularly in the sectors of tourism, construction, real estate and logistics, supported by its proximity to JNPT and the upcoming airport”.

The Kalyan centre, to be steered by a special planning authority under the MMRDA, is poised to be a hub of commercial and residential complexes as well as educational institutions. It will cover 10 villages in Kalyan taluka, spanning 1,089 hectares, and is slated to host major township projects.

The MMRDA plans three centres specifically for industrial growth in Angaon, Sape and Amba in Thane and expects them to be catalysts for economic growth in their respective microregions, enhancing employment and connectivity and contributing to industrial development, especially in the manufacturing sector.

MMRDA commissioner Sanjay Mukherjee said MMR is projected to contribute $350 billion to the Indian economy by 2028. “MMRDA’s new initiative propels us toward a future enriched with superior opportunities and infrastructure.”

Dominic Romell, president of Confederation of Real Estate Developers’ Association of India, lauded the initiative. “With the strategic locations of Kharbav, Kalyan and Poynad growth centres, we anticipate a surge in demand for residential and commercial properties.”

  • Published On Oct 5, 2023 at 09:29 AM IST

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