Mumbai ranks among the top three densest cities in the world. The infrastructure has failed to match up to the rapid influx of people from other parts of the country and abroad. With hardly any space to accommodate the population, majority of the new home seekers are shifting base to suburban parts and Navi Mumbai.
Builders in Mumbai like Navimumbaihouses offer smart housing options. For instance, 1 BHK flats in Mumbai were once segmented into affordable units but today they are not for everyone.
The leading real estate portal commonfloor.com analyses the supply-need ratio of luxury homes in Mumbai.
Mumbai's 2034 Master plan Misses the Housing Type
Mumbai is the only Indian city to have a Twenty year Infrastructure development plan in place. The Development Plan (DP) 2034 starkly misses one vital pointer in the blueprint. It does not mention how luxury homes will fare in the next 20 years.
Raising the Residential Built-up area
The recent draft forwarded by the Brihan-Mumbai Municipal Corporation (BMC) will allow the FSI to be raised by 300 percent of what it is now. The three-fold rise in the residential built-up area will accommodate more luxury units in the projects by 2020.
High rises will tilt the supply-need ratio favourably