In a move set to transform the landscape of the Mumbai Metropolitan Region (MMR), Maharashtra Chief Minister Devendra Fadnavis has revealed plans for 'Third Mumbai', a sprawling new city in Raigad district designed to propel the state's economy into a new era. Officially known as Karnala-Sai-Chirner New Town (KSC New Town), this ambitious project spans an impressive 324 square kilometers—roughly three times the size of present-day Mumbai—and aims to serve as a global hub for education, healthcare, and cutting-edge technology.
The announcement came during the grand opening of Goldman Sachs' expanded office in Mumbai's Worli neighborhood on Monday, where Fadnavis engaged with top investors and emphasized the state's commitment to fostering innovation. "This expansion by Goldman Sachs highlights Maharashtra's talented professionals, vibrant economy, and welcoming policies for businesses," Fadnavis stated. "It solidifies our position as a frontrunner in finance across India."
Building on the success of Navi Mumbai as the 'second Mumbai', 'Third Mumbai' is envisioned as a self-sustained urban center with specialized zones. Key highlights include an 'Edu City' featuring campuses from up to ten world-class international universities, a 'Medi City' with advanced medical colleges and hospitals, innovation hubs focused on quantum computing and AI research, data centers, and global capability centers. The development will also incorporate residential towers, commercial spaces, sports complexes, and a new business district to attract multinational corporations and startups alike.
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Fadnavis highlighted seamless connectivity as a cornerstone of the project. Infrastructure like the Coastal Road, the Atal Setu (Mumbai Trans Harbour Link), and the upcoming Worli-Sewri Link Road will ensure quick access between 'Third Mumbai' and the existing city. Plans also include extending the Mumbai Suburban Railway via the Mumbai Urban Transport Project (MUTP-4), making commuting efficient and eco-friendly.
The initiative, first conceptualized in 2013 and formally named in October 2024, is overseen by the Mumbai Metropolitan Region Development Authority (MMRDA). It promises to address population growth by providing modern housing and job opportunities, positioning Maharashtra as India's next business capital. Fadnavis invited private sector involvement, promising swift approvals and resolutions to any hurdles. "Through strong public-private collaborations, we achieve meaningful progress. Maharashtra prioritizes ease of doing business and supports investors every step of the way," he added.
At the event, Goldman Sachs Asia Pacific President Kevin Sneader praised India's market potential, while India CEO Sonjoy Chatterjee noted the new office's emphasis on teamwork, creativity, and staff welfare. The firm, which started operations in India in the 1980s and set up its Mumbai base in 2006, provides services in investment banking, trading, asset management, and research.
The 'Third Mumbai' reveal has generated positive buzz, with observers calling it a "futuristic blueprint" for economic expansion. As development progresses, it could redefine urban planning in India, blending sustainability with high-tech growth.
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