Khopta New Town

Residential Land / Plots 30000 Sq.ft. for Sale in Chirle, Navi Mumbai

Listing ID #1372157

The Karnala-Sai-Chirner Town (KSC Town), often referred to as Third Mumbai, has been envisioned as a major economic hub within the Mumbai Metropolitan Region (MMR). According to NITI Aayogs masterplan, KSC Town is projected to boost MMRs Gross Domestic Product (GDP) to USD 300 billion over the next five years. To support this ambitious growth, the Mumbai Metropolitan Region Development Authority (MMRDA) and the World Economic Forum (WEF) signed a Memorandum of Understanding (MoU) in September 2024. The primary goal of this collaboration is to establish technology hubs in the region and position MMR to host 65% of Indias data centers.

In December 2024, MMRDA issued a tender to hire a consultant for conducting various surveys, including LIDAR, aerial, and land surveys, scheduled to take place in 2025. These surveys are expected to play a crucial role in the regions infrastructure development.

In a significant step forward, MMRDA signed MoUs with 11 global and domestic companies during a meeting in Davos last month, securing investments totaling USD 40 billion (approximately INR 3.5 lakh crore) for the MMR, which includes the KSC Town project. An official emphasized that these MoUs are structured to span a long-term period of five to seven years, which will be vital for the sustained growth and development of MMR and the realization of Third Mumbai.

The foreign companies involved in these MoUs include prominent global players such as Brookfield, Blackstone Inc., Temasek Holdings, Sumitomo Realty & Development, The Everstone Group, University of Birmingham, Sotefin, Circular Economy Park Development, and the Department of Transport UK & Crossrail International. In addition, domestic investors include well-known Mumbai-based companies like the Hiranandani Group and K Raheja Corp, both of which have significant business interests and investments in the MMR. These strategic partnerships are expected to lay the foundation for the future transformation of the region..