A new report from property consultancy Anarock reveals that the number of skyscrapers over 40 floors tall in the Mumbai Metropolitan Region will grow by 34% between 2024-2030. There are currently 361 high-rise buildings in the MMR, with 154 completed so far and another 207 scheduled for completion in the next six years. Rising population levels and higher development densities permitted over the last decade are fuelling demand for tall buildings. The state government's recent reduction of premiums for additional constructed space is also encouraging more high-rise development among builders. South Central Mumbai currently has the most towers, though growth is projected across all areas in the coming years.
The Mumbai Metropolitan Region (MMR) will see a 34% increase in the number of skyscrapers over 40 floors tall between 2024 and 2030, according to data from Anarock. There are currently 361 high-rise buildings in the region, with 154 completed so far and another 207 scheduled for completion in the next six years.
Anuj Puri, chairman of Anarock, said that between 2019 and 2023, 154 high-rises with 40+ floors were completed in the MMR; between 2024 and 2030, another 207 are to be finished.
Factors driving the growth in skyscrapers include population expansion and increased permissible floor space indexes over the last decade. In 2019, the state government also reduced floor space premiums for residential and commercial projects for two years, lowering input costs for developers by up to 25% for residential buildings.
South Central Mumbai accounts for the most towers at 103, or 29% of the total. 61 are complete there and 42 more are underway through 2030. The Central Mumbai suburbs rank second with 87 high-rises, with 42 finished and 45 under construction. The Western suburbs have 80 tall buildings, with 50 complete and 30 yet to come. Thane has 61, but only 2 are done while 59 are in development. Finally, Navi Mumbai has 25 towers, 10 ready and 15 being built.
The swell in residential and commercial skyscrapers speaks to Mumbai's ongoing urbanization. With more residents and employees housed in compact vertical structures, valuable land can be preserved. However, challenges around infrastructure and liveability will need immediate redressal to support the increased density. Strategic planning will be crucial for Mumbai to sustainably accommodate its growing population within existing boundaries through optimized high-rise development.
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