Oberoi to Hiranandani, top Mumbai realtors turn to building redevelopment

Tata Realty, the real estate arm of Tata Sons, is also looking to redevelop residential buildings in South Mumbai

Leading property developers, such as Oberoi Realty, Tata Realty and Infrastructure, and Hiranandani, have turned to redevelopment of existing buildings in the expensive parts of Mumbai as a way of augmenting revenue.   

Experts estimate that Mumbai’s redevelopment projects could be worth Rs 30,000 crore. As such, they are not new. What is new is that the big developers are interested in them.  

Leading the race is Oberoi Realty, which has set up a separate team for these projects. Recently, it took over a slum redevelopment project next to its property in Borivali, and is looking at a large redevelopment project in