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

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..