Urban renewal: Builders ride the redevelopment wave in major Indian cities

Space crunch, need for efficient land use prompt both firms and govt bodies to follow trend

India’s real estate sector is booming with new-age concepts, and redevelopment is gaining traction due to space scarcity and the need for efficient land use. These projects span governmental partnerships, societal initiatives, and developer-led efforts.

Mumbai is at the forefront, with dilapidated buildings being continuously modernised. Key micromarkets like Dadar, Prabhadevi, Bandra, Worli, Vile Parle, Juhu, Malabar Hill, and Mahalaxmi are witnessing this trend.
 

According to Anarock, in the Delhi-National Capital Region, ageing colonies and housing societies are being transformed. Surat is advancing with urbanisation and Smart City initiatives, while Bengaluru is upgrading old residential areas, driven by