Modi will land in the metropolis at 11.30 AM and leave for MIDC Patalganga in neighbouring Raigad district where he will inaugurate the newly-built campus of the National Institute of Securities Management.
The PM will then reach Raj Bhavan and later move towards Girgaum Chowpatty for the Shivaji Memorial event.
He will proceed to the site in the Arabian Sea off Mumbai coast, where the state government is planning to build a mega memorial for Chhatrapati Shivaji Maharaj.
The Prime Minister's visit assumes political significance as the high-stake elections to Brihanmumbai Municipal Corporation (BMC) are just a few months away.
The main feature of the Shivaji memorial, slated to cost Rs 3,600 crore, will be a 192-metre-tall statue of the iconic Maratha king. The site is a rocky outcrop, roughly 1.5 km from the Raj Bhavan shore.
Chief Minister Devendra Fadnavis recently said the 'Shiv Smarak' will not only be the tallest memorial in the country, but in the entire world. He had thanked Modi for "making it possible."
Later, Modi will address a public function at the Mumbai Metropolitan Region Development Authority (MMRDA) ground in suburban Bandra, after laying foundation stone for two Metro rail projects, Elevated Rail Corridors Project and Mumbai Trans Harbour Link (MTHL).
Shiv Sena president Uddhav Thackeray, whose party is an ally of ruling BJP, is expected to share the dais with Modi at the MMRDA event.
The PM will then leave for Pune, where he will lay the foundation stone of the Pune Metro Rail project at the Agriculture College ground there. NCP leader Sharad Pawar will share the stage with Modi at this event.
The memorial project has been facing stiff opposition from fisherfolk and environmentalists, who have alleged that it would affect marine life and ecology of the Arabian Sea.