Maharashtra Offers Land Sops to Fuel Mumbai 3.0 Development Near Atal Setu

The policy aims to streamline the development of the 'New Town Development Authority' (NTDA) area and all future projects undertaken by the Mumbai Metropolitan Region Development Authority (MMRDA).

The state cabinet gave its approval on February 10, and Chief Minister Devendra Fadnavis, during his budget speech made on March 6, announced the government's move to develop Mumbai 3 to attract non-polluting industries like data centres, IT and ITeS, logistics, among others. The state cabinet emphasised that this policy shall not impose any direct or indirect financial liability on the state government.

The Urban Development Department, late Monday evening, issued a GR designating Mumbai Metropolitan Region Development Authority (MMRDA) as the NTDA for a vast area covering approximately 323.44 sq. km. This jurisdiction encompasses 124 villages across the Uran, Panvel, and Pen talukas of Raigad district. Notably, forest lands, Coastal Regulation Zones (CRZ), and a 250-meter buffer zone around the Pen Municipal Council limits are excluded from this authority's remit.

The new policy has introduced several compensation and rehabilitation models designed to balance infrastructure needs with the rights of local farmers and landowners.

"Private landowners who surrender their land through negotiations will be eligible for 22.5 per cent of the developed land back, following the established CIDCO model. For landowners entitled to less than 40 sq.m. of developed land, the government will provide direct cash compensation instead of physical plots.

Land can also be acquired in exchange for Floor Space Index (FSI) or Transferable Development Rights (TDR).
For landowners who do not provide consent, the government will proceed with compulsory acquisition under the "Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013," said the new policy.

To foster economic growth, the policy adopts Maharashtra Industrial Development Corporation (MIDC)-inspired strategies to attract global and local industries.

"Investors bringing in FDI will receive priority in land allotment. Eligible investors must acquire a minimum of 100 acres and commit to an investment of at least Rs 250 crore per 100 acres within four years. To encourage industrialisation in undeveloped areas, a 'Pass-Through' policy has been approved. Under this, land will be allotted on an 'as-is-where-is' basis, with all acquisition and infrastructure costs recovered from the allottee in instalments. The MMRDA is authorised to partner with land aggregators through Expressions of Interest (EOI) to form SPVs for developing specialised 'Growth Centres'," read the policy.

The government has directed MMRDA to develop a robust revenue model to ensure maximum returns from the infrastructure created. Furthermore, a high-level committee led by the Additional Chief Secretary (UDD-1) has been established to resolve any disputes arising between the authority and landowners during the implementation of this policy.

(Sanjay Jog can be contacted at sanjay.j@ians.in)

- IANS