Business EconomyPosted at: Jun 14 2026 8:48PM


Redevelopment will remain one of the key drivers of Mumbai's residential market

Mumbai, June 14 (UNI) Mumbai's redevelopment story today goes far beyond demolishing ageing structures and replacing them with new buildings, said a leading real estate developer.
Addressing mediapersons here over the weekend, Amit Jain, Chairman & Managing Director, Arkade Developers, said redevelopment has evolved into an opportunity to improve urban living through better infrastructure, enhanced amenities, and stronger communities.
With land availability shrinking across Mumbai, particularly in established residential neighbourhoods, redevelopment is emerging as one of the few viable solutions to address the city's future housing needs, he said.
"Over the next decade, a large number of ageing buildings across Mumbai will inevitably undergo redevelopment. The opportunity today is not merely to replace buildings, but to create better environments for people to live in," he noted.
He believes redevelopment will remain one of the key drivers of Mumbai's residential market. Unlike earlier decades when new land parcels fuelled housing supply, the city's future growth will increasingly depend on unlocking the potential of existing developments.
According to Jain, the redevelopment process has become significantly more organised over the years. Housing societies are better informed, legal frameworks are stronger, and responsibilities are more clearly defined. Residents are typically provided rental compensation during construction, while project timelines and commitments have become more transparent.
"The process today is far more organised. Societies understand their rights, developers understand their responsibilities, and there is much greater clarity while making decisions," he said.
Jain also highlights how buyer preferences have evolved. Homebuyers today are looking beyond the apartment itself and evaluating the overall living experience. "There was a time when buying a home simply meant buying four walls. Today, people are investing in a lifestyle," he says.
Connectivity, social infrastructure, open spaces, wellness amenities, construction quality, and long-term value have become key decision-making factors. Features such as clubhouses, fitness centres, landscaped gardens, children's play areas, and co-working spaces are increasingly viewed as essential rather than aspirational.
At the same time, customer experience has emerged as a major differentiator. Jain believes the relationship between a developer and a buyer does not end at possession. From construction updates to after-sales support, buyers expect a seamless experience throughout their journey.
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