Maharashtra Unveils Mumbai 3.0 Plan

Mumbai is set to undergo a significant transformation as the Maharashtra government launches its Mumbai 3.0 plan, focusing on large-scale redevelopment, infrastructure expansion, and technology-led governance.

Chief Minister Devendra Fadnavis announced the plan at the 6th Edition of Real Estate & Infrastructure Investors' Summit, held in Mumbai. He highlighted the state government's long-term development vision and invited the real estate and infrastructure industry to partner in its execution.

The Chief Minister pointed to Maharashtra's strong economic performance, with the state registering 8.8% growth in the first quarter, outpacing the national average of 7.6%. The real estate sector has emerged as a major growth engine, with Mumbai's property market reflecting this momentum. In August 2026, the city recorded around 12,500 property registrations, the highest monthly number, generating approximately ₹9,355 crore in government revenue.

Redevelopment is a key aspect of the Mumbai 3.0 plan, with the government aiming to make Mumbai slum-free in the next 10 years. The cluster approach will be used to redevelop areas, including Dharavi, where the government plans to build 10,000 rehabilitation homes by January 2029. The Chief Minister also announced plans to redevelop old MHADA layouts and other ageing urban settlements.

The state government is also planning to redevelop the BEST depot, as part of its comprehensive redevelopment plans. The Chief Minister emphasized the importance of the real estate sector in sustaining the state's economic growth and invited the industry to partner with the government in its development vision.

Maharashtra was the first state to have a regulator, and the Chief Minister highlighted the success of this regulator in cleaning up the trade and creating a level playing field. The government has worked with the developers' fraternity to create a successful regulator, and the Chief Minister expressed his confidence in the sector's ability to drive growth.

The transformation of the real estate sector is also reflected in the evolving functioning of industry associations, such as NAREDCO, which are increasingly looking at the interests of the entire sector and its long-term growth.

The Mumbai 3.0 plan is expected to have a significant impact on the city's development, with a focus on creating new growth corridors, redeveloping existing areas, and leveraging technology to drive governance. The plan is a key aspect of the state government's vision for the city's future, and its success will depend on the partnership between the government and the real estate and infrastructure industry.

In conclusion, the Mumbai 3.0 plan is a significant step towards transforming Mumbai into a modern, efficient, and sustainable city. The plan's focus on redevelopment, infrastructure expansion, and technology-led governance is expected to drive growth and create new opportunities for the city's residents and businesses.