Why Need to Redevelop the Old Houses in Mumbai?

Why Need to Redevelop the Old Houses in Mumbai?

  • February 17, 2020
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Mumbai is a city that welcomes people from all over the globe. More than 22 million people live in this financial capital of India; yet, space is something that is becoming constrained. The available space is sold at a premium rate. This lack of space in the heart of Mumbai is forcing many people to shift to the suburbs.

An increasing number of property developers and redevelopment builders in Mumbai are also focusing their attention on the Mumbai suburbs where finding a space won’t be an issue. Rather, in comparison to other parts of the city, they get a wider scope with any housing development project.

Moreover, the suburbs form the perfect meeting point of all modern-day lifestyle. The suburbs are in an advantageous position as people can get all forms of public transport facilities. It has got excellent rail and road connections to the rest of the city. in addition to that, modern lifestyle amenities are making the suburbs a beautiful location to invest.

Rapid Development of Residential Projects

Many new residential projects are coming up in the heart of Mumbai. However, suburban areas like Malad or Goregaon or Borivali are not to stay behind. The improved infrastructure and connectivity are making the suburbs a great place for new Residential Projects in Mumbai.

Unlike the old housing projects, the new residential projects stand the test of time. Most of the modern residential projects come equipped with necessary amenities, like gyms, playgrounds, gardens, rainwater harvesting, and so on.

Why Go For Redevelopment?

Homeowners might have come across the word ‘redevelopment’ number of times. Redevelopment is the way of demolishing the existing building and constructing a new one. It’s great for housing societies who want to understand the immense value of their property. Moreover, redevelopment helps people to add Eco-friendly infrastructural elements like solar energy or rainwater harvesting, and more so that the house becomes ready for the future.

The list of advantages offered through the redevelopment of an old house is just endless. Without further ado, let’s take a look into the amazing advantages of redevelopment.

Increased Lifespan

With the redevelopment of old houses, the lifespan of an old or dilapidated house greatly increases. For instance, renovation might increase the span of the house for 4-5 years only. However, through redevelopment, the building or the house gets a longer life. They are structurally sage as it can withstand all climatic and geographic conditions.

Increased Floor Area

When you redevelop your old house, you get an increased floor area. The carpet area is increased by 10-15%.

Plenty of Amenities

If you craved for modern amenities like gymnasium, a park or lift; with the redevelopment project, you will get them easily. All amenities would be of utilitarian value.

Mitigating Risk

Risks are minimal as the property rights and controls for the redevelopment project lies in the hand of the redevelopment builder.

Well, redeveloping an old building / house to a completely new one is very realistic than constructing a new one. It’s affordable as one won’t need to carry out constant repairs.

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