Mumbai redevelopment projects outpace new launches for first time

Mumbai's housing redevelopment market has surpassed new project launches for the first time, marking a shift from policy experiment to market-driven necessity, according to a report released Wednesday at the NAREDCO Maharashtra summit. More than 1,000 redevelopment projects have been launched since 2020, comprising 13 per cent of Mumbai's residential supply, with redevelopment's share of total housing sales surging to 15 per cent in 2025-H1 2026, up from 6 per cent during 2016-2021. The slum rehabilitation segment saw 1,202 active projects covering 321,858 hutments across 2,156 acres, nearly four times the total acreage completed since 1995. Industry experts said redevelopment has become an urban survival imperative due to absolute land scarcity, offering buyers new constructions in established locations without the 5-7-year infrastructure lag of peripheral developments, while providing the only path to replace aging housing stock.