Plans for a ‘Fourth Mumbai’ in the Palghar region gained significant momentum this week as Chief Minister Devendra Fadnavis announced that the upcoming bullet train project might extend through the Mumbai Metropolitan Region (MMR). Additionally, Fadnavis revealed that efforts are underway to extend the Mumbai Coastal Road project to the Vadhavan Port area. The Chief Minister reassured that improved connectivity with Gujarat via the bullet train would not result in businesses relocating away from Mumbai, the financial capital.
India’s largest port is currently under construction in this region, with the government planning the creation of a ‘Fourth Mumbai’ around it. This ambitious development includes a new international airport, which has already received approval from Prime Minister Narendra Modi, and the extension of the Mumbai Coastal Road to enhance connectivity. The Maharashtra government is also preparing to commence work on Mumbai’s third airport.
Speaking at an event on Wednesday, Fadnavis said, “This area will host India’s largest port and a new international airport, for which the Prime Minister has already given the green light. Plans are also in motion to extend the bullet train and coastal road up to this region.”
Addressing concerns that improved connectivity might draw business away from Mumbai, the Chief Minister highlighted examples from the diamond trade and financial services sectors to demonstrate Mumbai’s enduring appeal. He noted that the diamond trade concentrated in the Bandra Kurla Complex (BKC) and parts of South Central Mumbai had remained robust, with prices for local units increasing by 40% over the past two years.
Fadnavis added, “All major fintech companies continue to choose the Bandra Kurla Complex for their operations despite recent changes. We are witnessing record prices for land in BKC, with strong demand and investment. I do not see this as a challenge for Mumbai’s business landscape.”
This development signals Maharashtra’s commitment to transforming the Palghar region into a strategic hub, complementing Mumbai’s growth while maintaining the city’s status as India’s premier financial centre.
Source: Finacial Express
