The frantic redevelopment is generating new housing stock even in saturated pockets like Bandra, Colaba, Andheri, and Chembur. Nearly 2,050 buildings in Mumbai are at various stages of redevelopment. https://theprint.in/ground-reports/mumbai-redevelopment-boom/2631333/
For now, developers are lining up to grab plots. There’s a race between developers to win over society members, who are being offered several carrots—more living space, better rentals, and higher corpus funds.
Despite the current frenzy, many developers and market analysts say this wave is unsustainable. Eventually, the bubble is going to burst, spreadsheet calculations will stop making sense and residents will be forced to lower their expectations. “We have reached a very scary situation in Mumbai’s redevelopment scene. We have reached the market’s peak. When prices start going down, none of these calculations are going to make sense and society members could be left in the lurch,” said Gulam Zia, senior executive director at Knight Frank India.
Every third lane in Mumbai has some or the other building behind barricades, so people feel there will be a huge supply. But any redevelopment project will only yield anywhere between five and 40 apartments for sale. The issue will be more about a mismatch—more people wanting 1,000 sq ft houses, but developers are making 1,500 sq ft homes
by Manasi Phadke
20/05/2025