Redevelopment boom: 44,000 new homes coming up in Mumbai
Mumbai is getting ready for a huge upgrade—over 44,000 new homes are set to be built by 2030 through massive redevelopment projects worth ₹1.3 lakh crore.
Since 2020, more than 910 housing societies have jumped on board, with the Western Suburbs alone making up nearly three-quarters of the fresh supply.
The main goal? Replace aging buildings and give the city's skyline a much-needed boost.
The big picture
This plan shifts Mumbai from spreading outwards to building upwards, targeting over 160,000 old societies where open land is hard to find.
Experts say it'll help make better use of space and offer more housing choices in this packed city.
But there's a note of caution too: rising prices could overheat the market, so developers are being urged to play it smart with their finances.
On the bright side, these projects could also pump thousands of crores into government revenue through taxes and stamp duties—a win for both residents and Mumbai's economy.