India, Aug. 9 -- The Mumbai Metropolitan Region Development Authority (MMRDA) has entered into an agreement with a Singapore-based firm to prepare a vision document and a comprehensive master plan for Mumbai 3.0, which is expected to cover 323.44 sq km, including 124 villages in the Panvel, Uran and Pen talukas of Raigad district, exactly 50 km from main Mumbai.

The plan will include land use, transport networks, housing, industrial and commercial zones, social infrastructure and other civic amenities.

According to MMRDA officials, Mumbai 3.0 could open up a major new growth market within the MMR for the real estate sector, driven by planned urban development, infrastructure and investment. With the Navi Mumbai International Airport and...