Tushar Mangl

Written by -  Rishabh Siroya, Founder Siroya Corp & President, NextGen Committee, NAREDCO, Maharashtra. ____ Take any prominent city in India, Mumbai in particular, and you will find old, neglected, and often poorly maintained buildings dotting its skyline. Unlike other cities, many of these Mumbai buildings remain occupied even though they are at their end-of-life stage. As a result, they are almost impossible and uneconomical to repair and are a genuine threat to the life and limb of its residents. Moreover, despite location advantages, some particularly mid-rise structures need more basic facilities like lifts. However, these buildings are the key to addressing one of the most pressing problems of Mumbai's real estate - land shortage. This is where redevelopment comes into play, helping address both demand and supply of land and houses in one of the priciest real estate markets in the country. Per one estimate, the city has at least 14,000 buildings requiring massive repairs

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