January 2021 / Construction Times
Nishant Deshmukh reasons why the redevelopment of buildings is an answer to many a challenge the Mumbai city faces.
Mumbai has always been attracting a large population due to the employment opportunities it offers. This has led to a severe paucity of space. The demand for residential units has been on the rise, but there is a mismatch between demand and supply due to shortage of land parcels, especially in the heart of the city. Hence many people have to look for residential units in the outskirts of the city. On the other hand, the central locations in the city are occupied with old ageing buildings which may not have the possibility of carrying out structural renovations or assure a protracted service life of the building.