- A central land in Jambudweep (the middle island of Jain geography).
- A place where Tirthankars are always present in every time-period.
- Therefore considered very suitable for spiritual progress and for souls who want to move quickly towards Moksha. ( jainknowledge.com)
Both Digambar and Shwetambar traditions:
- Accept Mahavideh/Videh Kshetra as a real region of Madhya‑lok.
- May differ in some details of cosmography (exact divisions, names of sub‑regions),
but the main idea is the same:
It is a pure, spiritually advanced land where Tirthankars currently preach.
If you want to read more in simple words, you can see this explanation on JainKnowledge: