In January 2026, at the World Economic Forum in Davos, Maharashtra Chief Minister Devendra Fadnavis stood in front of global investors and named a cluster of 16 villages in Pen Taluka, Raigad district, as the first city of “Third Mumbai.” Three months later, on April 18, 2026, MMRDA signed a formal shareholder agreement with Raigad Pen Growth Centre Ltd at Mumbai’s Sahyadri State Guest House, in the Chief Minister’s presence — moving the project from announcement to structured institutional backing.
For investors tracking the Navi Mumbai Airport corridor, Raigad Pen Growth Centre is worth understanding closely right now — not because it’s finished, but because it’s progressed further, faster, than most comparable schemes in the region, while its master plan and final zoning are still being worked out. This guide covers what the project actually is, its real timeline, and what to verify before treating any specific plot as an investment.
Quick facts:
Official name: Raigad Pen Growth Centre Ltd (also referred to as Orange Smart City, after Orange Smart City Infrastructure Pvt Ltd, the original proposing developer)
Location: Pen Taluka, Raigad district — approximately 25 km from Panvel, roughly 15–30 km from Navi Mumbai International Airport depending on the source and measurement point
Planned area: 1,217.71 acres (493 hectares) across 5 clusters, 16 villages
Nodal agency: MMRDA, via SPV Raigad Pen Growth Centre Ltd
Nearest rail access: Hamrapur and Pen stations
Stamp duty: 50% concession approved by the Maharashtra Cabinet (~June 2025) for land registrations tied to the project — not a full exemption
Master plan: Prepared by Surbana Jurong (Singapore); under MMRDA review, not yet finalized
Key Advantages & Strategic Connectivity
Pen Growth Centre sits inside the broader corridor being reshaped by the Navi Mumbai International Airport (operational since December 25, 2025) and the Atal Setu / Mumbai Trans Harbour Link (operational since January 2024, cutting Sewri-to-Chirle travel to roughly 20 minutes), while currently carrying a lower entry price point than nodes closer to the airport itself.
Worth separating into two categories:
Already real: Rail access via Hamrapur and Pen stations, road access via the existing Panvel corridor, and the regional lift from Atal Setu, which by some traffic counts is still running well under its daily capacity — meaning headroom for growth in usage remains.
Still a plan, not a fact on the ground: Any Growth-Centre-specific internal roads, utilities, or transit links tied to the still-unfinalized master plan. Treat these as direction of travel, not completed infrastructure, until MMRDA publishes the approved plan.
Present Status (as of mid-2026)
Raigad Pen Growth Centre has moved through three distinct stages: proposal and in-principle approval (2019–2022), SPV formation via joint venture (2023), and — most recently — formal institutional backing through the April 2026 shareholder agreement, alongside a national-stage announcement at Davos in January 2026. What hasn’t yet happened: publication of a finalized, approved master plan with confirmed zoning splits (residential/commercial/industrial), and confirmation of exactly which parcels within the 16 villages fall inside the final project boundary.
Practically, this means the project has real institutional and financial momentum, but the specific “where” and “what can be built” questions are still being settled.
Participants, Stakeholders & Ownership Model
State/nodal authority: MMRDA
Special Purpose Vehicle: Raigad Pen Growth Centre Ltd, formed via joint venture between MMRDA-approved partners Karnala Pen Growth Centre and Q-West
Original proposing developer: Orange Smart City Infrastructure Pvt Ltd
International planning/knowledge partners (per January 2026 Davos MoUs): Institutions including UC Berkeley, the Technical University of Munich, the Norwegian Geotechnical Institute, and Surbana Jurong (Singapore) — the same firm preparing the master plan — signed cooperation agreements tied to urban planning and technology transfer
What is Raigad Pen Growth Centre?
A planned integrated township covering 1,217.71 acres across 16 villages in Pen Taluka, Raigad district, developed under MMRDA through the SPV Raigad Pen Growth Centre Ltd, and named in January 2026 as the intended first city of the broader Third Mumbai region.
Has the Pen Growth Centre master plan been finalized?
Not as of this writing. Surbana Jurong prepared the master plan, which remains under MMRDA review.
Is Raigad Pen Growth Centre the same as Third Mumbai (KSC New Town)?
Not exactly — Pen Growth Centre is a specific 16-village project within Pen Taluka, positioned as the first city inside the much larger Third Mumbai / KSC New Town scheme, which covers 124 villages across three talukas. See our separate guide to KSC New Town for the full picture of that broader project.
How far is Pen Growth Centre from the Navi Mumbai Airport?
Reported distances vary by source, roughly 15–30 km, with 25 km from Panvel cited consistently across MMRDA’s own materials.
