Land scarcity in Mumbai promotes redevelopment projects
Slum redevelopment schemes as well as redevelopment of old ceased-buildings are playing a key role in real estate development projects in Mumbai.
The redevelopment projects will be taken on high priority as the availability of unoccupied land is very less in Mumbai.
DB Realty, Tata Housing, HDIL, Unitech, Godrej Properties, Kalpataru group, Omkar Realtors, Hiranandanis, Oberoi Realty, Hubtown, Kumar Urban Development, Vakratunda group and S Raheja are some of the players who entered into the redevelopment projects in Mumbai.
Mumbai requires a large number of redevelopment projects especially for increasing the availability of housing. As a result, the builders in Mumbai are looking to extend the redevelopment model in their portfolio.
The potential benefits of redevelopment projects are reduced urban sprawl, improved economic competitiveness of a city and better opportunities for safety and surveillance.
It is also noticed that apart from developers, fund advisors are also keen on investing in redevelopment projects.
The Ajay Piramal group controlled Indiareit Fund Advisors recently proposed to raise a Rs 500-crore Mumbai Redevelopment Fund aimed at investing in redevelopment of slums and tenant properties in the city.
To read more real estate news:
Slums will be re-constructed in Nonadanga
Source: Zee News
Apartments in Mumbai, Projects in Mumbai, Redevelopment of slums, Slum redevelopment schemes, Slums, Slums in Mumbai
Good article about redevelopment