Mumbai housing redevelopment sales outpace new project launches

Mumbai’s housing redevelopment market has reached a critical milestone as sales of redeveloped properties have begun to consistently outpace new project launches. According to a joint report by JLL and NAREDCO Maharashtra, redevelopment’s share of total housing sales rose to 15% in the first half of 2026, compared to 6% recorded between 2016 and 2021.

Since 2020, more than 1,000 redevelopment projects have been launched, accounting for 13% of Mumbai’s total residential supply. The report highlights an absolute scarcity of developable land in the city, describing redevelopment as an ‘urban survival imperative’ rather than just a commercial opportunity.

Key drivers for this shift include the urgent need to replace approximately 13,500 cessed buildings and a massive slum redevelopment pipeline covering 2,156 acres. Industry experts suggest that policy interventions, such as the DCPR 2034 and reduced consent thresholds, are helping to streamline these systemic urban transformations.