Redevelopment of Mumbai City:

Why is it a necessity?

Most of the construction in Mumbai's Island City is more than 80 years old and in the suburbs more than 50 years old with dilapidated and ageing structures.

There are perennial problems of leakages due to age and no facility of lift and parking. Also, many old tenements are dependent on common toilet facilities shared between neighbours and the old occupants are without ownership of their age old premises. Thousands of such ageing buildings are dilapidated and have reached a stage where it is not possible to carry out structural repairs and rehabilitation as the same are not economically viable.

The redevelopment of old buildings has become a necessity of Mumbai – The Financial Capital of India. The problem of old and dilapidated buildings in the city of Mumbai grows more acute with each passing year and with each passing monsoon more and more building becomes dangerous and unfit for habitation. There is requirement to enhance the standards of basic needs, quality and safety of life by undertaking structures with earthquake resistance rather than allowing the collapse of buildings taking place every year.

Moreover, the new generation deserves enrichment in their lifestyles for a healthy and modernistic living.

Recreating Lifestyle:

Why is it a necessity?

Redevelopment provides modern day space planning with vertical transport (lifts) and earthquake resistant durable structures with adequate in-house parking facility and recreation facilities for leisure and community gatherings. It also provides ownership of old tenanted property to its occupiers and creates exponential value after Redevelopment as compared to its earlier status. The Amenities within the flats and in the new complex grow more and more with the best of industry standards as the cluster size for redevelopment increases.

It further helps the State Govt. / MHADA / BMC to get rid of the liabilities to maintain old tenanted cessed properties in the island city as well as by consumption of TDR in suburbs in lieu of surrender of roads or reservations or undertaking Slum Rehab schemes. This incentive FSI is allowed by the Govt. / BMC to Land Owners / Developers subsidises the cost of reconstruction and the incidental costs for temporary transit accommodations etc. for the old occupiers. Ultimately, Redevelopment enables the city to transform its character from a dilapidated, congested locality into a modern skyline with wider roads and shape a futuristic city for the generations to come.