Devising Improved Metropolis Layout via REDEVELOPMENT.

Nishant Deshmukh reasons why the redevelopment of buildings is an answer to many a challenges 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.

Older buildings in Mumbai do not provide its residents with basic amenities such as space for parking, lift services and recreation. Also, due to ageing, these buildings cannot withstand the effects of the monsoon season and are often covered with thick blue plastic to avoid the rainwater from pouring into the homes. Many developers are venturing towards the redevelopment of old structures and reconstructing them into modern sturdier buildings with better facilities. This offers a huge potential to transform the city of Mumbai, restore its sheen and make it the true metropolis.

The following are a few reasons why the redevelopment of buildings is the answer to the challenges mentioned above and is a viable option for residential units in Mumbai:

Amendments in the Development Control Rules for Mumbai: According to the new rules of the DCR, plots measuring over 2,125 sq.m. (22,873 sq.ft.) will now be allowed to build further, vertically. As per the new regulation, the Brihanmumbai Municipal Corporation (BMC) will calculate the development prospects of a plot on its gross area, without reducing the area reserved for recreational purposes. The developers will now be able to build more apartments in a building with a balanced increase in the open spaces in the building. This provides the new buildings with facilities such as more room to park and dedicated recreational areas, etc.

Elevated Lifestyle within the Vicinity: People living in these old buildings have been living together for years and have established a vibrant community. They do not intend ever to get separated and move to a place where the community is yet to evolve. They are familiar with the people, the area and the surrounding neighborhood and are happy with the life within their community of likeminded individuals. Through redevelopment projects, the existing residents can stay in their same locality and need not shift to the outskirts of Mumbai to get a better lifestyle. Moreover, the redevelopment also provides its residents with an elevated lifestyle with exclusive amenities, planned apartments, more robust security and extra carpet area. The new homebuyers will get an opportunity to settle in a pre-established community which has all the high end amenities and social infrastructure in place.

Rejuvenate Older Buildings: Due to atmospheric wear and tear, there are thousands of buildings across Mumbai that are uneconomic to repair. A lot of areas in Mumbai are occupied by such old buildings that require urgent attention for renewal. Quite often, such locations command a premium price in terms of its land and place. Redevelopment projects give the new buildings a longer service life, reduce the maintenance cost and have lower repair expenses. Due to more modern technology and better quality of materials that are used during the re-construction. This helps in developing and upgrading the city of Mumbai as newer technology and amenities are incorporated in these redeveloped building, which helps in transforming the city's skyline.

The future of redevelopment in Mumbai seems bright mainly due to the city's requirement to create better-living spaces in its residential pockets. Urban space crunch has caused saturation in the real estate market, and a lot of people are compelled to move out and invest in the peripheral micro-markets that lie in the outskirts of the city. Redevelopment in such a case is a worthwhile option to restore the city's market and boost its livability quotient.

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