Mumbai's residential landscape has transformed significantly since 2019 mainly due to limited land availability for new developments, lack of amenities and aging buildings necessitating renovation and reconstruction. Redevelopment projects are reshaping neighborhoods, addressing demands for modern, sustainable housing. This evolution marks a new era in urban living for India's financial capital.

Mumbai's redevelopment sector has seen a rise in public-private partnerships, with MHADA (Maharashtra Housing and Area Development Authority) collaborating with private developers to revamp old buildings. This approach balances social responsibility with urban development needs. Simultaneously, the sector has adopted advanced technologies like prefabricated components and BIM, enhancing efficiency, construction speed, and overall quality of redeveloped structures, modernizing the city's urban renewal process.

Note: Mumbai includes Mumbai city, Mumbai suburbs, Thane city and Navi Mumbai
Source:  JLL Research

Figure 3: Share of redevelopment in overall sales