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Redevelopment Is Altering Mumbai’s Property Market

Of more than 500 proposals received, Mumbai civic authorities have approved 350 redevelopment projects so far this year.

<div class="paragraphs"><p>BDD Chawls. (Source: BQ Prime)</p></div>
BDD Chawls. (Source: BQ Prime)
Scarcity of land and soaring prices have made Mumbai a hub of redevelopment.With more than 1,000 redevelopment projects approved since last year along with the ongoing ones from previous years, 90,000 apartments are expected to be created out of redevelopment over the next three years, according to analysts at Ambit Capital. Most such projects are expected to be situated in south, central Mumbai Metropolitan Region and western suburb...
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