With the Government of Maharashtra appointing the Mumbai Metropolitan Region Development Authority (MMRDA) as the New Town Development Authority (NTDA) for the ambitious Third Mumbai project and the latter re-branding the areas as Karnala-Sai-Chirner (KSC) New Town, the aim is to streamline urban planning and development across the region, a move expected to catalyze real estate growth and attract investments to the Raigad district.
About The New Township
This new township will cover key areas within Navi Mumbai and Raigad district, with the Karnala Bird Sanctuary, Sai, and Chirner regions included in its planned development. Known for their proximity to nature, these areas are likely to attract residential and commercial projects catering to homebuyers seeking a balance between city amenities and serene surroundings.
“It is a welcome step by the state government that it appointed MMRDA as NTDA for KSC New Town consisting of residential, commercial and other mixed-use development. There is an immense scope for the development of these lands surrounding the new airport. Corporates, multinationals as well as technology firms are eyeing Navi Mumbai for opening up their offices specifically due to the advent of the new airport. We expect demand to escalate in the next few years in this region especially due to its closeness to Navi Mumbai end of Atal Setu as well as other infrastructure projects planned there,” said Rajesh Prajapati, the president of CREDAI-MCHI Raigad.
The creation of KSC New Town aligns with the evolving needs of urban expansion, which will likely result in an accelerated pace of real estate development, particularly in residential, commercial, and mixed-use segments. Additionally, the announcement will provide an impetus to supporting infrastructure such as transport networks, social amenities, and lifestyle offerings, further catalyzing the growth of this area.
“The development of KSC New Town is expected to significantly boost opportunities for sustainable urban planning and community-driven projects. This initiative aligns perfectly with our focus on long-term growth, contributing towards a well-planned urban ecosystem and attracting NRIs, investors, and residents seeking quality living in emerging suburbs. We are optimistic that this development will unlock new avenues, making Raigad a prime destination for holistic real estate investment and growth,” said Sandeep Sonthalia, CEO, Wadhwa Wise City.
Stating that this move will significantly boost real estate investment and establish Raigad district as a key micro-market within MMR, Ram Naik, Director and Co-founder of The Guardians Real Estate Advisory, said, “Encompassing 124 villages over 323 sq. km, KSC New Town will be anchored by the forthcoming Navi Mumbai International Airport, making it an attractive destination for homebuyers seeking proximity to India’s financial capital. With Smart City features integrated into the development, residents and investors can expect a modern, sustainable living environment that fosters long-term growth in the region.”
Echoing similar feelings, Rajeev Ranjan, Co-Founder & CEO, The Mentors Real Estate Advisory Pvt Ltd said, "This new development is poised to become a significant growth corridor, bringing structured urbanization and unlocking new real estate opportunities in the region.” Bhavesh Shah, Joint Managing Director, Today Global Developers feels, “MMRDA envisioned to provide the discerning residents good quality of life through provision of modern amenities and recreational facilities, enveloped in a well-planned greener ecosystem. It will not only bolster the real estate developments within the region, but the proximity to Navi Mumbai International Airport would allow great opportunities for job creation in various sectors.”
The creation of KSC New Town is projected to spark real estate interest since developers are eyeing this area as the next growth corridor in Navi Mumbai. This initiative aligns with the state government’s vision to expand the MMR and relieve congestion in the main city, providing fresh opportunities for investors and residents alike in Raigad district.
