Redevelopment is sweeping through south Mumbai’s most sought-after pin codes. A-list developers are invited to submit bids by at least six to seven housing societies in Walkeshwar, Breach Candy, Malabar Hill, Napean Sea Road, Worli, and Altamount Road each week.
The “redevelopment craze in the island city took time to come, but it is now surging, with every fourth or fifth housing society gearing up for a ‘luxury’ makeover,” according to Pankaj Kapoor, director of Liases Foras. Listed developers are in competition with one another, luring the gentry with attractive incentives that range from a whooping corpus of capital and hefty transit rents to 40 to 60 percent more room per person. He stated that eight projects—Ruparel House, Little Gibbs, Sunteck Realty Project, and Lodha Malabar—were announced in the past year on Malabar Hill, Altamount Road, and Walkeshwar.
Source: Hindustan Times
