With not much undeveloped land left in Mumbai for fresh developments, the city’s real estate growth will largely be propelled by the success of its many slum redevelopment schemes, according to a recent study.
52% of the upcoming realty projects in Mumbai, spread over 8,600 acres, are slum redevelopment schemes, brokerage Anand Rathi Research said in a 4 October report. Another 18% will be factory and mill land projects, 4% will be redevelopment of old buildings, and 3%, urban slum renewal schemes. These figures are indicative of the tendency toward brownfield development in one the worlds largest cities.
It is hoped the schemes will rehabilitate families living in almost 300,000 hutments this year, and also open up substantial space for residential and commercial development.
According to the Anand Rathi report, Mumbai, India's densest city with 27,000 people per sq. km, would need an additional 324 million sq. ft of residential developments by 2021. But of the 468 sq. km in Mumbai, only 90 sq. km is actual developable land and the rest are non-revenue generating areas such as forest land, according to a survey by Pankaj Kapoor, chief executive of Mumbai-based real estate research firm Liases Foras and architect Hafeez Contractor.
"A huge amount of space can be freed through slum redevelopment but that needs to be incentivised by giving developers more construction rights," said Kapoor.
FULL STORY: Slum Redevopment to Propoel Mumbai's Real Estate Growth
Depopulation Patterns Get Weird
A recent ranking of “declining” cities heavily features some of the most expensive cities in the country — including New York City and a half-dozen in the San Francisco Bay Area.
California Exodus: Population Drops Below 39 Million
Never mind the 40 million that demographers predicted the Golden State would reach by 2018. The state's population dipped below 39 million to 38.965 million last July, according to Census data released in March, the lowest since 2015.
Chicago to Turn High-Rise Offices into Housing
Four commercial buildings in the Chicago Loop have been approved for redevelopment into housing in a bid to revitalize the city’s downtown post-pandemic.
New Park Opens in the Santa Clarita Valley
The City of Santa Clarita just celebrated the grand opening of its 38th park, the 10.5-acre Skyline Ranch Park.
U.S. Supreme Court: California's Impact Fees May Violate Takings Clause
A California property owner took El Dorado County to state court after paying a traffic impact fee he felt was exorbitant. He lost in trial court, appellate court, and the California Supreme Court denied review. Then the U.S. Supreme Court acted.
How Urban Form Impacts Housing Affordability
The way we design cities affects housing costs differently than you might think.
City of Costa Mesa
Licking County
Barrett Planning Group LLC
HUD's Office of Policy Development and Research
Mpact Transit + Community
HUD's Office of Policy Development and Research
City of Universal City TX
ULI Northwest Arkansas
Town of Zionsville
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.