Redevelopment leads to rise in rents in Bandra-Khar-Santacruz area

09 Mar 2022 CW Team

As the sound of piling machines and bulldozers reverberated via the western suburbs, the increase in the redevelopment of housing societies has resulted in an unexpected fallout: a shortage of rental flats in the Bandra-Khar-Santacruz area where hundreds of families who vacated their houses over the last few months have held virtually everything available on lease.

As per the official data, the maximum redevelopment projects 780 were in the Bandra-Andheri belt in 2021. Rentals in parts of the western suburbs grew by 20-30% due to the demand for flats from those relocating from old buildings.

Increasing demand and short supply have fuelled a drastic housing shortage for suburban renters. Developer Sanjay Devnani told the media over 80 new projects have been rolled out in Bandra’s H-west ward. A few old projects which had become non-viable have continued due to the premium advantages provided by the Brihanmumbai Municipal Corporation (BMC) till December 31, 2021.

These projects have now come to a stage where current buildings have been razed, and old members are scouting for rental flats. Devnani told the media that the normal 2 and 3 BHKs witnessed an abnormal demand.

Rentals have grown by 20%, and even apartments that had no takers have been rented out. Over 750 apartments have been undertaken in the last two months. 2 BHKs, which were going for Rs 60,000 a month are currently at Rs 75,000. A 3BHK which previously fetched a monthly rent of Rs 80,000 is presently at Rs 1.1 lakh.

Image Source

Also read: MHADA approves redevelopment of old buildings in Mumbai

Infrastructure Urban

30 May 2026

Panasonic Showcases Connected Display Solutions

Panasonic Life Solutions India showcased its integrated display, projection, broadcast and communication technologies at Panasonic Tech Summit 2026 in New Delhi. Hosted through its System Solutions Division, the two-day event highlighted connected technology solutions for education, healthcare, retail, transportation, corporate offices and entertainment.The summit, themed ‘Turning Technology into Value’, featured experience-led zones covering QSR, retail, transit, corporate offices, healthcare, education, security, projection, home theatre and professional displays. Panasonic also introduc..

Kapsch to Deliver India’s First C-ITS Project

"Kapsch TrafficCom will deliver India’s first Cooperative Intelligent Transport Systems project on a key expressway near New Delhi. The project will be implemented with Superwave Communication And Infrasolution Limited to demonstrate how connected mobility can improve road safety and traffic efficiency.The pilot will use real-time connectivity and AI-enabled situational awareness to support road users, especially in high-risk areas such as temporary work zones. Drivers will receive alerts on roadworks, maintenance vehicles, hazardous locations, traffic queues and temporary virtual signage di..

Eurobond Net Profit Rises 44 Per Cent

Euro Panel Products, the parent company of Eurobond, reported a 44.13 per cent year-on-year rise in net profit for FY25–26. The company’s revenue from operations grew 18.91 per cent to Rs 503.20 crore, compared to Rs 423.18 crore in the previous financial year.The company’s full-year EBITDA stood at Rs 56.67 crore, marking a 31.82 per cent increase. Profit after tax rose to Rs 26.56 crore, while net worth increased 20.15 per cent to Rs 160.07 crore. Earnings per share for the year stood at Rs 10.84.Divyam Rajesh Shah, Whole Time Director and CFO, Euro Panel Products, said the company’s..