McKinsey has hinted that MMRDA is best suited to tap its potential as Mumbai and MMR have demonstrated some of the best practices across various facets of urban development.
MMRDA's increased push in developing infrastructure in the MMR is in line with the McKinsey recommendations that the global agency had presented to the state government in February 2015. It had also estimated capital expenditure of $180 billion in MMR between 2010 and 2030 to further strengthen mass transit, roads, water supply, sewage and sanitation and increase affordable housing.
McKinsey has hinted that MMRDA is best suited to tap its potential as Mumbai and MMR have demonstrated some of the best practices across various facets of urban development. Mumbai is one of the first cities in India to have developed a business plan and concept plan 2050 for the entire metropolitan region. Besides, the Comprehensive Transport Services (CTS) plan was created in 2007.
Mumbai Metropolitan Region Development Authority's (MMRDA) Rs 12,157 crore budget lays emphasis on public transportation, job creation, and affordable housing considering population in the region to be 33 million and its GDP of the order of $265 billion in 2030.
MMRDA is using four key funding sources including land monetization, user charges, debt and support from the government for completion of various projects. McKinsey had observed that MMRDA had demonstrated a track record of land monetization, especially of the Bandra Kurla Complex and the use of infrastructure development. Besides, Brihanmumbai Municipal Corporation's decision to amend Development Control rules with regard to fungible floor space index had created an annual revenue of Rs 2,000 crore for the civic body.
Already projects worth Rs 1.50 lakh crore are already under various stages of implementation in MMRDA.
MMRDA officer told DNA,'' The objective is to benchmark MMR as a best practice city. McKinsey's recommendation has been reflected in the budget, which has made a large fund provisions for metro corridors, Mumbai Trans Harbour Link, flyovers, creek bridges, road network, and water resources.'' He informed that it has been MMRDA's attempt to effectively tackle three challenges cited by McKinsey, which include vehicular congestion, constraints on parks and open spaces and sewage treatment.
WHAT'S GOING ON
- Projects worth Rs 1.50 lakh crore are already under various stages of implementation in MMRDA.
- An MMRDA official said the objective is to benchmark MMR as a best practice city.
- McKinsey’s recommendation has been reflected in the budget.
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