Raigad Pen Growth Centre Ltd
MMRDA published an EOI on 19.08.2019 & 16.11.2021 to undertake development of Growth Centres in the MMR with landowner/persons or companies having right, title and interest in respect of contiguous land. Proposal received from M/s. Orange Smart City Infrastructure Private Limited (“OSCIPL”) is found responsive. MMRDA issued an in-principle approval letter to M/s.OSCIPL on 03.11.2022. MMRDA signed a JVA with M/s. Karnala Pen Growth Centre and M/s. Q-West on 24.03.2023, intending to form an SPV namely as M/s. Raigad Pen Growth Centre Ltd and propose an Integrated Township Policy to the State Government.
Salient Features
- Land Area: 1217.71 Acres (493.00 Ha) spread across 5 clusters and 16 villages in Pen Taluka, Raigad District.
- Location and Proximity: The site is 25 km from Panvel, 30 km from Navi Mumbai's proposed airport, and within easy reach of key ports. Hamrapur and Pen are the nearest railway stations.
- India’s first world-class, well-conceived and technologically advanced greenfield 'Smart City' driving growth and sustainability. The project targets to create significant jobs across sectors to boost self-sustained township with Live-Learn & Work-Play model.
- 15% Built-Up FSI dedicated to social housing (EWS & LIG).
- SPV Formation: ‘Raigad Pen Growth Centre Ltd.’ formed in March 2023.
- MMRDA issued letter to 14 Global Investors, Invitation to Participate & Explore Investment Opportunities in India’s Upcoming Premier Sustainable Growth Centre Development Opportunity in Mumbai Metropolitan Region.
- MMRDA has issued letters to ACS(Revenue), GoM with CC to ACS UDD requesting for 100% exemption in Stamp Duty in Registration of lands in the name of Raigad Pen Growth Centre Ltd (Special Purpose Vehicle).
- Master plan prepared by Surbana Jurong under review by MMRDA.