The Mumbai Metropolitan Region (MMR) is seeing significant progress with 14 metro projects currently underway, with a total cost of approximately Rs 1.5 lakh crore. The Union Budget for 2025 has allocated Rs 1,255.06 crore for the Mumbai Metro, with a substantial portion likely going toward the Colaba-Bandra-Sipz Metro-3 route, a key project managed by the Mumbai Metro Rail Corporation. This funding will provide critical financial support for ongoing metro projects across the region.
In addition, a provision of Rs 792.35 crore has been earmarked for the MMRDA’s integrated and green passenger facility, which will help in the development of growth hubs. These growth hubs will be set up across India, with NITI Aayog overseeing the initiative. MMRDA, in particular, will focus on establishing growth hubs in Maharashtra, and this allocated fund may be utilized for these purposes.
Over the past two years, two metro projects have been successfully implemented in Mumbai, both of which connect the western suburbs. Additionally, the first phase of Metro-3 has been opened for traffic recently. Apart from the Metro-3 project, most other metro developments are being executed by MMRDA, with the second phase of the projects currently under construction.
Challenges Faced by MMRDA:
While MMRDA has raised funds for these metro projects by selling and leasing land in Bandra Kurla Complex, the available land for sale is dwindling, meaning they need to find alternative income sources. One such initiative is the establishment of a growth center in Kalyan, though it has yet to receive the necessary momentum.
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Financial Considerations:
Metro projects in the MMR area are also being developed in Thane district. These projects have received loans from national and international financial institutions, which will need to be repaid after the routes become operational. As a result, the burden of loan repayment is not expected to impact finances immediately but will arise once traffic begins on these routes.
The combined cost of all the metro projects amounts to Rs 1.5 lakh crore, with the central and state governments sharing a portion of this financial responsibility. Additionally, at the state government’s suggestion, the Mumbai Municipal Corporation has contributed funds to support MMRDA in financing these ongoing projects.