September 22, 2025: With most of Mumbai’s greenfield land already exhausted, redevelopment is set to become the primary engine driving housing supply in the city for the foreseeable future. The process offers a win-win: existing residents receive new apartments, while developers gain the opportunity to build and sell additional flats or commercial spaces on redeveloped properties.
Government policies have been pivotal in enabling this trend. The Maharashtra Apartment Ownership Act (MAOA) permits redevelopment if at least 51 per cent of a housing society’s members consent, providing a legal framework for thousands of aging buildings to pursue agreements with developers. This has paved the way for modern housing clusters that align with current urban living standards.
“ There are nearly 10,000 old buildings that need renewal. Given the scarcity of vacant land, developers from all grades are aggressively pursuing redevelopment opportunities to secure a foothold in Mumbai’s high-demand market,” said Saurabh Garg, Co-founder & CBO, NoBroker.
Several large developers are now spearheading marquee redevelopment projects. The Adani Group is undertaking the 142-acre Motilal Nagar redevelopment in Goregaon (West), involving about 3,700 residents, and the massive Dharavi slum redevelopment, covering more than 600 acres through its SPV, Navbharat Mega Developers. Rustomjee Group has launched three projects in Mumbai worth over Rs 7,700 crore, while Kolte-Patil has signed deals in Mulund (West) and Vashi, unlocking 730,000 sq ft of saleable area with a revenue potential of Rs 1,200 crore.
Arkade Developers has announced eight projects across the suburbs valued at Rs 5,000 crore. Oberoi Realty secured a Carter Road redevelopment project in July 2024, and Puravankara gained rights for Miami Apartments at Breach Candy in September 2024.
These initiatives underscore how redevelopment will dominate Mumbai’s housing growth, transforming its skyline over the next two decades.
Source: Outlook Money
