According to CBRE South Asia Pvt. Ltd, Mumbai hosts an impressive 77% of India's high-rise buildings. The city's skyline evolution is primarily due to scarce land availability and rapid urbanization. This growth, while creating premium real estate, has also led to a rise in land prices. Other Indian cities like Hyderabad, Kolkata, and Noida trail behind, contributing 8%, 7%, and 5% to the high-rise landscape, respectively. The majority of these towering structures are residential, signalling Mumbai's upward trajectory in addressing urban housing needs.
Mumbai, the bustling metropolis of India, holds a remarkable 77% of the country's total high-rise buildings, according to a report by CBRE South Asia Pvt. Ltd. With over 100 towering structures dotting its skyline, Mumbai's influence on India's architectural landscape appears set to persist.
Mumbai's high-rise developments fetch superior prices, surpassing most other Indian cities, thereby rendering these projects financially feasible. The city's skyline evolution is largely a response to the limited availability of land coupled with a rapid urban population surge. Internationally, Mumbai stands at 17th place overall and 14th in Asia for cities boasting the most high-rises, according to the Council on Tall Buildings and Urban Habitat.
The phenomenon of decentralization has spurred growth in Mumbai, triggering an outward spread towards the north and east. Emerging micro-markets, namely Malad, Goregaon, Powai, Vikhroli, and Kanjurmarg, have evolved from mere residential peripheries to significant urban hubs.
However, despite this growth, land shortage continues to plague Mumbai's urban regions, fuelling skyrocketing land prices. Premium neighbourhoods such as Central Mumbai and South Mumbai, distinguished for their prestige and superior location, have morphed into epicentres for high-rise communities. These densely packed regions offer robust connectivity through public transport and road infrastructure, thus commanding a significant premium over other city areas.
A glance at other Indian cities reveals that Hyderabad, Kolkata, and Noida contribute 8%, 7%, and 5% to India's high-rise building landscape, respectively. Gurgaon, Bangalore, and Chennai trail closely, each contributing a modest 1%. The CBRE report also highlights that about 89% of India's completed high-rises are residential, with 6% designated as office buildings. Mixed-use and hotel structures constitute 4% and 1% of the tall building landscape, respectively.
In conclusion, Mumbai's dominance in the high-rise building segment is a testament to its continued urban growth and development. The city's economic and infrastructural evolutions, mirrored in its skyline, underline its position as India's prime hub for vertical architecture. The ongoing challenge of land scarcity, coupled with a swelling urban population, indicates that Mumbai's trajectory towards the sky will continue to shape the future of India's urban development.
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