News: Redevelopment Is 15% of Mumbai Home Sales: JLL-NAREDCO-03-09-2026
Mumbai has seen more than 1,000 redevelopment projects since 2020, accounting for 13% of residential supply and 15% of housing sales, says a JLL India and NAREDCO report released on September 3. The segment’s share of sales rose to 15% in 2025-H1 2026 from 6% in 2016-2021, which the report reads as buyers actively choosing redevelopment over greenfield. Borivali, Malad, Andheri, Vikhroli and Goregaon hold around 36% of projects since 2020, and the western suburbs take 35-45% of launches and sales (2025-H1 2026).
Slum rehabilitation has 1,202 active projects covering 321,858 hutments across 2,156 acres, nearly 4x the total acreage completed in the 30 years since SRAs formed in 1995. Mega-projects include the 101-acre Juhu Lane-Gilbert Hill cluster, Dharavi redevelopment and the 420-acre Goregaon scheme at Motilal Nagar. A November 2025 policy reform dropped individual consent requirements for large slum clusters, putting execution ahead of unanimity.
The report says 13,500 cessed buildings need urgent redevelopment; the Western Suburbs hold 22.4% of ageing stock and South Mumbai 14.2%, concentrated from Colaba to Borivali.
Karan Singh Sodi, Senior Managing Director - Mumbai MMR and Gujarat and Alternatives, India, JLL, said the absolute scarcity of developable land is a constraint no regulation can fix, making redevelopment an "urban survival imperative". He cited 850 projects since 2020 with 15% market share and sales outpacing launches for the first time, adding that the question is how quickly the shift can be executed safely.
Kamlesh Thakur, President, NAREDCO Maharashtra, said redevelopment has moved from policy initiative to the main engine of housing supply, and the body is committed to transparent, sustainable urban renewal.
