Slum Redevelopment in Mumbai – The Next Big Focus for Real Estate

[rajeshchawla]

Niranjan Hiranandani, Founder and Managing Director of the Hiranandani Group, believes slum redevelopment in Mumbai is set to gain momentum as future governments prioritize this crucial issue. With over 50% of the city’s population residing in slums and only 5% of the promised redevelopment completed in the last two decades, Hiranandani expects slum redevelopment to become a major focus in upcoming state elections. According to Niranjan Hiranandani news, he emphasized that any government coming into power in Maharashtra will have to make a significant commitment to this cause.

Furthermore, Hiranandani noted that the real estate sector, despite facing recent challenges, will benefit from infrastructure projects like the Mumbai-Ahmedabad bullet train and the Delhi-Mumbai industrial corridor. These developments, coupled with government support for affordable housing, are expected to drive significant growth in Mumbai’s real estate market in the coming years.

[roxoy]

The increasing momentum for slum redevelopment is expected as future governments are likely to prioritize this pressing issue. With more than 50% of the population living in slums and only a small fraction of redevelopment projects completed over the past two decades, slum redevelopment is anticipated to become a key focus in upcoming state elections. Any new government will need to commit to addressing this challenge. Despite recent hurdles in the real estate sector, infrastructure projects such as the bullet train and the industrial corridor will spur growth. Additionally, integrating property management software can enhance efficiency in managing developments and maintaining properties. With government backing for affordable housing, the real estate market is poised for significant expansion in the years ahead.