Tag: housing societies in Mumbai

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Mumbai’s Redevelopment Will Create 44,000 New Homes: Report

NEW DELHI: A report by Knight Frank India states that by 2030, Mumbai’s current redevelopment initiatives (MCGM) are set to deliver 44,277 new homes, amounting to ₹1,305 billion. The report reveals that since 2020, a total of 910 housing societies have entered into development agreements (DAs), unlocking approximately 326.8 acres (1.32 million sq. meters) of potential land based on FSI utilization norms. Notably, around 160,000 societies are over 30 years old and eligible for redevelopment. In the Western Suburbs, areas with high population density from Bandra to Borivali are expected to contribute 32,354 new homes, representing 73% of the total…

Latest StoriesResidential

Mumbai housing society redevelopment to add ₹1.3L crore homes: Report

NEW DELHI: The Mumbai region is set for significant redevelopment, with over 44,000 new homes expected by 2030, valued at ₹1.3 lakh crore, according to a report by Knight Frank. On Wednesday, the real estate consultant Knight Frank India released insights indicating that Mumbai’s redevelopment landscape is evolving remarkably. “A blend of policy incentives, asset-light developer strategies, and favorable capital markets have transformed redevelopment into a strategically valuable endeavor,” the consultant noted. Knight Frank estimates that ongoing society redevelopment projects in the Mumbai (MCGM) area will yield a total of 44,277 new homes worth ₹1,30,500 crore. Since 2020, 910 housing…