Bangalore
  • Bangalore
  • Mumbai
  • Delhi
  • Pune
  • Chennai
  • Hyderabad
  • Kolkata
  • Ahmedabad

Mumbai Real Estate: The Redevelopment Maze

nikunj.j

Mumbai Real Estate: The Redevelopment MazeRedevelopment is not a new phenomenon in Mumbai. Various parts of the city have being seeing redevelopment in pockets for many years as the city planning authorities strive to accelerate urban renewal and improve the quality of real estate and infrastructure, and developers strive to make a profit. The redevelopment process happens against a backdrop of the city’s fast-growing population and the rising demand for space amid limited availability of developable land.

Redevelopment is necessary as every building has its own inbuilt shelf-life, after which the building becomes unsafe to live in. Such buildings are often difficult to maintain and are unattractive to the market. Also, without redevelopment, there would be no new supply in the fully developed city centres.

Mumbai has many land-constrained pockets with a fairly large stock of dilapidated, unsafe buildings with none of the amenities and conveniences that contemporary home buyers and office space occupiers expect for the mind-boggling financial outlay required to secure space in Mumbai. In the financial capital, redevelopment is the only logical solution to address the growing issue of urban blight, and for improving the overall profiling and viability of the city.

The benefits of redevelopment in a city like Mumbai are numerous – the urban sprawl is tamed to some extent, the economic competitiveness of the prime precincts increases, and the incidence of building collapses reduces. According to the most recent studies, areas in South Mumbai such as Colaba, Mumbadevi, Malabar Hill, Sewri, Byculla and Worli are beset with the highest burden of decrepit buildings in the city.

This encompasses over 400 buildings, of which more than 80 are in the C-1 category, which pertains extremely dilapidated and hazardous buildings. Apart from the South Mumbai constituency, areas such as the Dadar-Chembur belt, Mulund, Khar, Bandra and Santacruz are seeing considerable redevelopment activity.

The government of Maharashtra had taken steps towards boosting ‘cluster development’ in the city. Unlike the standard practice of redeveloping cessed, condemned or otherwise uninhabitable buildings, creating cluster development is a much more complicated affair because it involves redeveloping groups of structures within specified area – for example, chawls or slums.

However, despite its avowed focus on redevelopment, the government has not been able to translate its enthusiasm into a coherent and viable policy framework. Redevelopment of Mumbai’s oldest areas still faces the constraints of a lackadaisical rate of regulatory approvals and clearances.

Arvind Jain, Managing Director – Pride Group

The views expressed in this article are author´s own

Tags : Arvind Jain cluster development in Mumbai Dadar-Chembur belt Pride Group Properties for sale in Bandra Properties for sale in Byculla Properties for sale in Colaba Properties for sale in Khar Properties for sale in Malabar Hill Properties for sale in Mulund

Related Articles

How to Choose the Right Service Apartment for a Long-Term Stay

service apartments near me
Amrish Kishore

When planning an extended stay in a new city, whether for work, relocation, or leisure, service apartments offer the perfect blend of home-like comfort and hotel-like convenience. Unlike traditional rentals, service apartments come fully furnished with essential amenities and flexible lease terms, making them ideal for long-term accommodation needs. Understanding Service Apartments: Beyond Traditional Rentals […]

Top Localities for Ready Possession Apartments Near You

ready to move apartments hyderabad
Amrish Kishore

Finding a ready-to-move apartment in Hyderabad can be a game-changer for homebuyers who don’t want to wait through lengthy construction timelines. The city’s real estate market offers numerous options across diverse localities, each with its unique advantages. Why Choose Ready-to-Move Apartments in Hyderabad? Ready possession apartments in Hyderabad eliminate the uncertainty and delays associated with […]

Top Localities for Ready-to-Move Apartments in Hyderabad in 2025

ready to move apartments hyderabad
Amrish Kishore

Hyderabad’s real estate market continues to evolve rapidly, offering excellent opportunities for homebuyers seeking immediate possession properties. As we move into 2025, the Pearl City presents an impressive array of ready-to-move apartments across diverse neighborhoods, each with its unique appeal and advantages. Whether you’re a tech professional looking to minimize commute time, a family prioritizing […]

A Neighbourhood-Wise Guide to Ready Apartments in Chennai

ready to move apartments chennai
Amrish Kishore

Chennai’s real estate landscape offers a diverse array of ready-to-move-in apartments across its vibrant neighbourhoods. Whether you’re a first-time homebuyer, an upgrader, or an investor, the city presents numerous options tailored to different lifestyles and budgets. Why Choose Ready-to-Move Apartments in Chennai? Ready-to-move apartments in chennai eliminate the uncertainty and delays associated with under-construction properties. […]

Trending Article

Top Localities for Ready-to-Move Apartments in Bangalore in 2025

Posted on July 25, 2025 By Amrish Kishore

How to Choose the Right Service Apartment for a Long-Term Stay

Posted on August 4, 2025 By Amrish Kishore

Top Localities for Ready Possession Apartments Near You

Posted on August 4, 2025 By Amrish Kishore

Top Localities for Ready-to-Move Apartments in Hyderabad in 2025

Posted on July 25, 2025 By Amrish Kishore

A Neighbourhood-Wise Guide to Ready Apartments in Chennai

Posted on July 25, 2025 By Amrish Kishore

Latest Properties - Flats

Latest Properties - Villas

Luxury Properties

Sell your property 3x faster

POST FREE AD

Log in to your account
Thank You!

Your details has been submitted successfully.