Real Estate Developers Constructing High Rise Buildings in Mumbai

1. Real Estate Developers Constructing High-rise Buildings in Mumbai Did you know that by 2020 Mumbai’s Metropolitan region is expected to have 28.5 million people? As the pressure on space is growing, the city is witnessing an increase in the number of high-rise buildings. According to real estate experts, tall residential buildings hold the answer to Mumbai’s housing problems. Almost every location in the city now boasts of one or more skyscrapers. Areas in Central Mumbai such as Sewri, Parel and Lalbaug have several high-rise apartments, costing more than 5 Crore. Few years back, Lower Parel was dotted with textile mills but today, the old structures are being pulled down to make tall buildings and glossy malls. Real estate developers have changed the landscape of central Mumbai with 75 and 80-storied towers. With a host of high-rise buildings being constructed across the city, Mumbai will be receiving an even more cohesive skyline in the years to come. Maximum number of tall buildings approved or under construction in India are in this city. Such buildings are being supported in Mumbai because the FSI available here is higher than the FSI available in cities like Delhi. Construction of a 126-storey building has already begun which is being touted to be the tallest in the country. If you are planning to buy a flat on the top floor of a skyscraper for better view, be prepared to shell a huge amount. Cost for 4, 3 or 2 BHK flats in Mumbai’s skyscrapers is higher because developers have to rely on expertise from overseas for constructing such buildings. Real estate experts believe that encouragement to vertical growth is very important for Mumbai’s future. Efforts are being made to strike a balance between tall buildings and good infrastructure so that Mumbai’s skyline can be made to look like Dubai or Shanghai in the future.