Login
SBI Term Loan: RLLR: 8.15 | 7.25% - 8.45%
Canara Bank: RLLR: 8 | 7.15% - 10%
ICICI Bank: RLLR: -- | 8.5% - 9.65%
Punjab & Sind Bank: RLLR: 7.3 | 7.3% - 10.7%
Bank of Baroda: RLLR: 7.9 | 7.2% - 8.95%
Federal Bank: RLLR: -- | 8.75% - 10%
IndusInd Bank: RLLR: -- | 7.5% - 9.75%
Bank of Maharashtra: RLLR: 8.05 | 7.1% - 9.15%
Yes Bank: RLLR: -- | 7.4% - 10.54%
Karur Vysya Bank: RLLR: 8.8 | 8.5% - 10.65%

Redevelopment projects cause rental escalations of up to 15%

#Top Stories
Last Updated : 24th Nov, 2022
share-icon Share
font-size icon Font size
ABC Small ABCMedium ABCLarge
Save
print Print
comment Comment
Synopsis

Residential complexes in Mumbai City are fast opting for redevelopment. A concept that used to scare many is now being embraced by several housing societies across the region. Several government initiatives introduced in the recent past have helped society members opt for self-redevelopment and encouraged builders to take on such projects by way of additional FSI. As a result of this, several micro markets in Mumbai are experiencing a sudden surge in rental yields. Experts suggest rentals have increased by Rs. 5-10 /- per square foot in Mumbai Suburban and By Rs. 10-15/- per square foot in the Island City.

Story Image

Representative image

Residential complexes in Mumbai City are fast opting for redevelopment. A concept that used to scare many is now being embraced by several housing societies across the region. Several government initiatives introduced in the recent past have helped society members opt for self-redevelopment and encouraged builders to take on such projects by way of additional FSI. As a result of this, several micro markets in Mumbai are experiencing a sudden surge in rental yields.




During the pandemic, the city witnessed a dip in rental yields has many individuals returned to their hometowns thereby creating latent supply. However, now that almost all pandemic restrictions have been lifted, offices are calling employees back to the office. This has once again spiked demand resulting in raised prices. To add to this, certain micro markets such as Juhu, Bandra, Khar, Borivali and Kandivali presently have a lot of societies in the middle of redevelopment due to which many homeowners have temporarily taken apartments on rent in the area. Such reasons have been attributed to rental prices climbing by almost 15 per cent. Experts suggest the average rentals have increased by Rs. 5-10 /- per square foot in Mumbai Suburban and By Rs. 10-15/- per square foot in the Island City.     
Next (RBI reports 3.1% rise in India�s housing prices with Kolkata in the lead)

Have something to say? Post your comment

Post Comment

Quick Links

Asset Class

Location

Other News
post_image

5th Jun, 2025

Mumbai emerges as top data centre hub in Asia-Pacific region
post_image

25th May, 2023

Reliance Industries acquires the Mandarin Oriental Hotel in New York
post_image

11th May, 2023

U.S. housing market sees significant decline in home listings amidst reluctant sellers and high mortgage rates
post_image

27th Apr, 2023

US single-family housing construction on the rise: positive signs for a struggling market