Mumbai Real Estate � Constraint-Driven Growth Pattern

Q: In the current times, the Mumbai Metropolitan Region is extremely reduced in its region for independent growth and Mumbais resident population has exploded beyond all boundary. Any kind of explosion required a sufficiently large area for its fallout to spread.

Suresh Khanna, Mumbai

6th January 2015

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However, the main city is now also practicing to improve by adding infrastructure to accommodate and deal within the continuous incoming migration. This is having a positive impact on the primary influence zone of Mumbai City and its immediately neighboring locations.

Rituraj,

6th January 2015

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Because of the generation of jobs that has taken place, many of these extended markets are now coming into strength as independent economic catchments that have their own workplace hubs generating local demand for real estate.

Vivek Kulkarni,

6th January 2015

Comment

This is the movement that will operate over the next couple of decades, and will result in a significant outward migration from the MMR. This happening is not just on account of the ever-rising property prices and escalating infrastructure deficit within the Mumbai Metropolitan Region, but also because these new regions are attracting national and international manufacturing companies.

Rituraj,

6th January 2015

Comment

Development is now extending into the newer, outer regions. Most of the growth in Mumbais residential real estate sector growth has been the result of the increased supply in these regions, and there has been a corresponding population shift from the original MMR to these newly developed locations.

Vivek Kulkarni,

6th January 2015

Comment

Over the years, real estate rates have increased astronomically in the original main parts of Mumbai city. Since the pricing feed back of 2009, in a period of less than 5 years, prices have grown in excess of 80%. The growth in the Navi Mumbai and Thane region has been even greater.

Rituraj,

6th January 2015

Comment

In the years to come, they are likely to see a steady thinning-out of the urban population in Mumbais central areas and increasing compression of these new growth areas. Meanwhile, the citys wealthiest occupant continue to stay put within the exclusive range of MMRs ultra-expensive central areas. What they are witnessing today is an quick process of social stratification that has been underway in the city for a fairly long period of time.

Vivek Kulkarni,

6th January 2015

Comment

About 3/4th of the population was residing within this relatively small area. However, the citys road and rail networks expanded remarkably quickly beyond Greater Mumbai, which resulted in growth being driven toward Vashi, Thane, Panvel and Kalyan.

Rituraj,

6th January 2015

Comment

Due to Mumbais unique geographical placement, the growth of city stretch out in the Mumbai Metropolitan Region has been very uneven. Until the early 70s, most of the MMRs town built-up area was intense in the Island city and its immediate suburbs, so the expansion of real estate development was more or less constrained within this region.

Vivek Kulkarni,

6th January 2015

Comment