August 18, 2025: Maharashtra Chief Minister Devendra Fadnavis on Thursday emphasised the urgent need for innovation in housing and construction to address Mumbai’s rising property prices. Speaking at a CREDAI-MCHI event, he warned that despite the rollout of major infrastructure projects and state measures, affordable housing remains elusive for many citizens.
Fadnavis noted that redevelopment of BDD chawls, slums and housing clusters is in progress but criticised the lengthy timelines. “If we aspire for a slum-free Mumbai, we cannot afford projects that drag on for seven to ten years. Across the world, 80-storey towers are built in just 120 days. If you bring such technology here, the government will provide the land and all necessary permissions,” he said.
The Chief Minister highlighted transformative infrastructure projects including the Coastal Road, Versova–Bandra Sea Link, Worli–Sewri bridge, Atal Setu, Orange Gate Tunnel and Navi Mumbai International Airport. These, he said, would reshape connectivity and growth within the Mumbai Metropolitan Region (MMR).
Looking ahead, Fadnavis revealed plans for new urban centres. “We are now planning not just a Third Mumbai, but even a Fourth Mumbai. With the bullet train, a 150 sq km township by MMRDA, data centres, ports and global opportunities, this northern region will become a major hub of growth,” he stated.
He added that the government is developing an Education City near Navi Mumbai airport alongside an Innovation City aimed at attracting world-class universities and research institutions.
Fadnavis said the MMR alone has the potential to become a 1.5 trillion dollar economy, even as Maharashtra works towards a 1 trillion dollar target. Urging developers to collaborate, he concluded: “With new ideas, technology and innovation, we can transform Mumbai and the MMR within the next decade.”
Source: Business Today
