Mumbai’s redevelopment-driven real estate market recorded a 16% year-on-year rise in redevelopment agreements in 2025, reflecting sustained demand for the renewal of ageing housing stock across the city. According to Knight Frank India, 229 development agreements (DAs) linked to old building redevelopment were signed during 2025, compared to 196 agreements registered in 2024.
The momentum has continued into 2026 as well. Data released by the property consultancy showed that nearly 70 redevelopment agreements, accounting for close to 30% of the previous year’s total, were already signed within the first 74 days of 2026 until March 15.
Between January 2020 and March 15, 2026, Mumbai recorded 1,094 redevelopment agreements, unlocking nearly 432 acres of land for redevelopment activity across the metropolitan region.
The western suburbs continued to dominate redevelopment activity during the six years. Out of the total agreements signed, 773 were located in the western suburbs, contributing around 321.2 acres of land. Central suburbs followed with 261 agreements covering 85.9 acres, while Central Mumbai recorded 38 agreements unlocking 38 acres. South Mumbai accounted for 22 redevelopment deals covering 8.3 acres.
Borivali emerged as the most active redevelopment market, accounting for 217 agreements and unlocking nearly 90.4 acres of land. Andheri followed with 115 agreements spanning 74.8 acres. Bandra recorded 74 agreements, while Malad and Ghatkopar registered 67 and 59 agreements, respectively.
Knight Frank India’s analysis estimated that these redevelopment projects could generate nearly 59,000 housing units across Mumbai. Of these, over 45,000 units are expected to come up in the western suburbs, followed by more than 11,800 units in the central suburbs.
The report further estimated that the projects would create housing inventory worth nearly Rs 1.5 lakh crore while generating approximately Rs 9,115 crore in stamp duty revenue for the Maharashtra government.
According to Knight Frank India, most ongoing redevelopment projects are being executed under Development Control Regulations (DCR) 33(9), 33(11) and 33(20B), which permit higher Floor Space Index (FSI) incentives depending on adjoining road widths and redevelopment eligibility norms.
Source: Hindustan Times
