DSK Legal Advised Mumbai Metropolitan Region Development Authority On Landmark Raigad-Pen Growth Centre Project Joint Venture

DSK Legal advised Mumbai Metropolitan Region Development Authority on landmark Raigad-Pen Growth Centre Project joint venture

The leading law firm in India, DSK Legal assisted and advised the Mumbai Metropolitan Region Development Authority (MMRDA) in connection with a landmark joint venture between MMRDA and Karnala Pen Growth Centre Limited (a group company of Q-West Infrastructure Private Limited and Orange Smart City Infrastructure Private Limited) for the development of the Raigad-Pen Growth Centre Project.

The Raigad-Pen Growth Centre Project is the first city planned within the proposed "Third Mumbai" region, envisioned to decongest Mumbai and Navi Mumbai and to create a new global business district along the lines of the Bandra-Kurla Complex (BKC). The project is among India’s first greenfield PPP sustainable growth centre developments and represents a major step in Maharashtra’s long-term urban and economic transformation strategy.

The Project was formally announced by the Hon’ble Chief Minister of Maharashtra, Mr. Devendra Fadnavis, at the World Economic Forum Annual Meeting 2026 in Davos, Switzerland. The announcement was accompanied by the execution of multiple memoranda of understanding (MoUs), highlighting capital investment commitments and the transfer of global best practices, technology, and know-how to develop a future-ready city near the newly operationalised Navi Mumbai International Airport.

The Project envisages large-scale urban development in the Raigad district, designed as a smart, sustainable city complementing Mumbai and Navi Mumbai. It aims to provide quality housing, modern infrastructure, robust transport connectivity, and function as a global city and innovation hub, incorporating Edu City, Medi City, Global Capability Centres (GCCs), data centres, and allied commercial and social infrastructure.

DSK Legal’s scope of work included advising on the roles, responsibilities, and governance framework of the joint venture partners, land-related issues and development rights, financing and structuring aspects, and drafting, review, negotiation, and finalisation of key transaction documents, including the shareholders’ agreement.

The DSK Legal team advising MMRDA was led by Avinash Khard (Partner) and included Mala Mehto (Principal Associate), Devika Rana (Senior Associate), and associates Brijesh Ranjan Sahoo, Vedant Sinha, and Mihika Mukherjee. Harvinder Singh (Partner) acted as the lead engagement partner, while Anjan Dasgupta (Partner) served as the relationship partner and provided strategic inputs on the transaction.

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