Housing Complexes Look To Redevelop In Mumbai

Residents in some of Mumbai's state-built housing complexes have agreed to solicit bids for redevelopment of the nearly half-century old housing, called Middle Income Group residential colonies. Residents and the building community alike are excited about the redevelopment.

"'It's a pot of gold, both for builders as well as the residents. Builders gain by exploiting additional construction rights in the form of the floor space index (FSI) they get to redevelop these properties. As for the residents, they are expecting new, larger apartments as well as a generous corpus running into several crores for the societies to be contributed by the builder who bags the projects,' said a real estate expert. "

"The MIG redevelopment plan is the latest in a series of such projects which are transforming old neighbourhoods in the metropolis."

"The demand for more housing stock combined with soaring real estate prices has given momentum to the process of regenerating land where decades-old commercial and residential properties now stand."

Full Story: Residents, realtors hit MIG jackpot


Build Your Own Paper Block City

Urban Fold is an all-inclusive kit that allows anyone to build the city of their dreams with a few simple folds.
building block set

NEW! Build the world you want to see

Irresistible block set for adults when placed on a coffee table or desk, and great fun for kids.

Prepare for the AICP* Exam

Join the thousands of students who have utilized the Planetizen AICP* Exam Preparation Class to prepare for the American Planning Association's AICP* exam.
Starting at $245
Wood necklace with city map

City Necklaces

These sweet pendants are engraved on a cedar charm with a mini map of selected cities. The perfect gift for friends and family or yourself!