September 12, 2025: Society redevelopment in Mumbai is entering a critical stage, with projects grappling with prolonged timelines and complex structural hurdles, according to a new study by Knight Frank India. The report found that redevelopment projects typically take between eight and 11 years to move from conception to completion.
Across the Municipal Corporation of Greater Mumbai (MCGM) limits, ongoing redevelopment schemes are expected to deliver 44,277 new homes by 2030, with a total market value of Rs 1.3 trillion. Since 2020, as many as 910 housing societies have signed development agreements (DAs), unlocking 326.8 acres of land under floor space index norms. These projects are viewed as a vital response to Mumbai’s limited greenfield potential while reshaping the city’s housing stock.
Western Suburbs dominate the pipeline, accounting for 32,354 units — or nearly three-quarters of total projected additions. Borivali, Andheri and Bandra together represent 139 acres of redevelopment activity, making them the leading sub-markets. By contrast, South Mumbai is expected to see only 416 new units, constrained by fragmented ownership and high entry costs.
Shishir Baijal, Chairman and Managing Director of Knight Frank India, noted: “Redevelopment is both inevitable and essential in a city with limited avenues for fresh development. However, projects risk delay or derailment unless societies and developers ensure financial buffers, maintain clear documentation and achieve unified consent.”
Over 80% of DAs since 2020 cover plots under 0.49 acres, yet deal sizes have increased, reflecting land aggregation and greater efficiency in project structuring. Gulam Zia, Senior Executive Director at Knight Frank India, stressed the importance of sustainable economics, warning that excessive revenue-sharing can compromise viability in volatile markets.
Knight Frank also estimated that redevelopment projects could generate Rs 7,830 crore in stamp duty and Rs 6,525 crore in GST over the next five years, underlining their economic importance.
Source: Business World
