Mumbai’s experience with redevelopment could offer a template for other Indian cities as ageing housing stock and infrastructure needs make urban renewal increasingly important, senior CREDAI representatives said at NATCON 2026 in Kolkata.
At the 24th edition of NATCON, being held from October 2 to 4, CREDAI leadership discussed the growing need for cities to establish structured redevelopment policies.
“Mumbai has consistently led the way; it is the mother of redevelopment models, and other cities should learn from the Mumbai model,” Boman Irani, chairman, Credai, told Hindustan Times.
CREDAI president Shekhar Patel said redevelopment would become increasingly necessary as India’s urban population expands, with the country expected to be around 60% urbanised by 2047. He noted that Mumbai began undertaking redevelopment projects nearly three decades ago, while cities such as Ahmedabad have also entered the sector.
“Mumbai saw its first redevelopment projects nearly 30 years ago, while several other cities have already begun the process. Ahmedabad, for instance, has more than 50 redevelopment projects underway,” he said.
Patel pointed to ageing housing stock in cities such as Chennai, where many homes are between 50 and 60 years old.
“Redevelopment is not merely a real estate issue; it is a social requirement and an essential part of upgrading urban infrastructure. Governments should therefore focus on creating clear redevelopment policies for cities across the country,” Patel said.
Irani also commented on Maharashtra’s recently revised housing society redevelopment framework, which places greater emphasis on resident participation and developer selection.
“A larger section of residents living in a building should be directly informed about and involved in redevelopment decisions. This is a fair approach and could also benefit more organised developers,” Irani said.
He also flagged concerns regarding the provision requiring redevelopment projects to be completed within two years.
In West Bengal, CREDAI president Sushil Mohta said the state chapter had approached Kolkata’s Urban Development Department regarding redevelopment opportunities involving ageing housing societies and slum areas.
“Kolkata can learn from Mumbai’s experience and identify areas that can be redeveloped,” he said.
Maharashtra’s September 30 Government Resolution requires a two-thirds quorum and approval from at least 51% of total society members for redevelopment decisions. It also permits remote participation in specified circumstances and requires written consent from members voting in favour.
Societies must seek at least three developer bids, while the Development Agreement is required to be executed within three months. A registered Permanent Alternative Accommodation Agreement must subsequently be signed within three months of the DA’s registration.
Source: Hindustan Times
