MMRDA budget: ₹4,000 crore allocated for development of Mumbai 3.0

The Mumbai Metropolitan Region Development Authority (MMRDA) approved a ₹48,072-crore budget for the financial year 2026-27 on Monday (February 16, 2026), with the authority projecting a marginal surplus of ₹17 lakh, allocating ₹4,000 crore for development of Mumbai 3.0. 

As part of Mumbai 3.0 city development, under the KSC (Karnala-Sai-Chirner) Navnagar Project, 323.44 sq. km will be developed, covering 124 villages in the Panvel, Uran, and Pen talukas of Raigad district. The authority is recognised as a New Town Development Authority, as per the MMRDA officials. 

“We are expanding connectivity, decentralising growth through Mumbai 3.0, and strengthening regional sustainability. This Budget marks a transition from financial stress to financial stability while maintaining development momentum at scale,” said Sanjay Mukherjee, Metropolitan Commissioner, MMRDA. 

MMRDA expects to generate around ₹11,000 crore in revenue through land monetisation for funding capital-intensive infrastructure projects.

First surplus budget  

This is MMRDA’s first surplus budget since 2017–18. Last year, a deficit of ₹7,468 crore was recorded.

“In three years, MMRDA has achieved ₹17 lakh surplus. The surplus is the outcome of structured land monetisation, strengthening of the Urban Transport Fund (UTF), improved project-linked revenues, and capital mobilisation through international partnerships and institutional financing,” as per the MMRDA. 

Projects 

About 87% of the budget, that is ₹42,026.14 ,crore has been allocated to development projects and schemes. 

The proposed budget outlay of ₹48,072.57 crore is 58.57% higher than the revised estimate of ₹30,316.18 crore for 2025–26. Proposed expenditure of ₹48,072.40 crore is 53.52% higher than the revised estimate of ₹31,313.13 crore for the previous year.

Chief Minister Devendra Fadnavis said, “The budget reflects global investor confidence and a long-term infrastructure-led growth vision, reflecting the Mumbai Metropolitan Region as a modern, investment-ready and globally competitive urban region.”

Around ₹5,543.51 crore has been allocated for the projects enabling the east-west connectivity, decongesting the traffic. The projects include Orange Gate to Marine Drive Coastal Road Underground Tunnel worth ₹1,250 crore, Gaimukh to Fountain Hotel Underground Tunnel – ₹75 crore, Thane to Borivali Four-Lane Underground Tunnel – ₹3,029.51 crore, Mumbai Integrated Tunnel (BWSL–BKC–HSR–T2 Connectivity) – ₹1,189.00 crore. 

The multi-ring road projects worth ₹12,816.53 crore covers Atal Setu to Mumbai–Pune Expressway Link – ₹603 crore, Anand Nagar to Saket Elevated Road – ₹880.12 crore, Thane Coastal Road (Balkum–Gaimukh) – ₹1,025.77 crore, Fountain Hotel to Bhayander Elevated Road – ₹75 crore, Kalyan Ring Road – ₹600 crore, Worli–Sewri Elevated Corridor – ₹936.07 crore, Mumbai Urban Infrastructure Projects – ₹2,362.20 crore, Mumbai – Vadhavan Express Way Corridor (Uttan-Virar Sea Link) – ₹2,000 crore, Mumbai to Samruddhi Expressway- Saket to Aamne Link Road – ₹500 crore and others.

MMRDA’s metro projects include key corridors Metro Line 2A (D.N. Nagar to Dahisar) – ₹45.19 crore, Metro Line 2B (D.N. Nagar to Mandale) – ₹1,224.60 crore, Metro Line 4 (Wadala–Kasarvadavali) – ₹3,630.71 crore. Metro Line 4A (Kasarvadavali-Gaimukh) – ₹176.54 crore, Metro Line 5 (Thane-Bhiwandi-Kalyan) – ₹1,309.30 crore, Metro Line 5A (Extn.) Durgadi to Ulhasnagar – ₹183.35 crore, Metro Line 6 (Swami Samarth Nagar–Kanjurmarg) – ₹2,407.78 crore, Metro Line 7 (Andheri (E) to Dahisar (E)) – ₹24.05 crore, Metro Line 9&7A (Dahisar – Mira Bhayander) (Andheri – CST Airport)– ₹1,151.87 crore, Metro Line 10 (Gaimukh to Miraroad) – ₹100.00 crore, Metro Line 12 (Kalyan to Taloja) – ₹1,054.54 crore, Metro Line 13 (Ghodbunder to Virar) – ₹200 crore, Metro Line 14 (Kanjurmarg to Badlapur) – ₹500 crore, Mandale Metro Bhavan – ₹403.31 crore, and others. 

For slum rehabilitation & housing projects MMRDA has allocated ₹731.33 crores, which includes Mata Ramabai Ambedkar Nagar SRA – ₹551.00 crore, rehabilitation & resettlement – ₹150.00 crore, and affordable Rental Housing – ₹30.33 crores. 

According to MMRDA, the estimated receipts of ₹48,072.57 crore include land sale – ₹11,177.95 crore, urban transport fund – ₹6,368.42 crore, borrowings – ₹23,711.16 crore, state subordinate Loans – ₹3,520.00 crore, project operating revenue – ₹441.71 crore, government grants & TDR – ₹1,189.14 crore, and ground rent & interest – ₹1,664.19 crore.

Published – February 17, 2026 08:46 am IST