| | JULY 20224The population density of Mumbai is around 73,000 per square mile, which makes Mumbai one of the most densely populated cities in the world. The city is also one of India's most prominent real estate markets, infamous for its high real estate prices. Multi-storeyed buildings and private houses already occupy most parts of the city, and on the flip side, slums. It's pretty evident that Mumbai is left with only a few alternatives to ensure further growth of the real estate developments. The state government needs to pilot a vast renovation program to recover encroachments and convert slums into residential-cum-commercial properties.The national capital has already manifested a great example recently. A few days ago, the illegal colonies in Uttar Pradesh's Greater Noida were demolished, and land measuring around 50,000 square meters--estimated to be worth Rs.100 crore--was freed of encroachment. The conversion & relocation of slums needs meticulous planning, considering `India' factors, including politics, communal reactions, and much more. For instance, for decades now, some of the poorest people in the US have been living in subsidized housing developments, often known as `the projects'. India needs India's own `projects'.On the other hand, since we are almost at the end of the pandemic tunnel, many new residential and commercial properties are in the pipeline to be launched this year in Mumbai. The competition is set to bring down real estate, benefitting home buyers. Since real estate prices are supposed to be affordable this year, it's a sure bet that the demand for new properties will rise, benefiting the builders, promoters, and investors in Mumbai's real estate sector.Sujith VasudevanManaging Editoreditor@ceoinsightsindia.comWhat's next for Real Estate in Mumbai?Editorial Vol 04 · Issue 5 - 1 · JULY, 2022 Publisher Alok Chaturvedi Managing Editor Sujith Vasudevan Group Art DirectorAshok KumarNoida Rohit Raghubanshi advertise@ceoinsightsindia.comEditorial queries editor@ceoinsightsindia.comTo subscribeVisit www.ceoinsightsindia.com/subscribe/ or send emailto subscription@ceoinsightsindia.comCover price is Rs.150 per issue.Editor Alok ChaturvediPrinted and Published By Alok Chaturvedi on behalf of InfoConnect Web Technolo-gies India Pvt. Ltd., and Printed at Precision Fototype Services at Sri Sabari Shopping Complex, 24 Residency Road Bangalore-560025 and Published At No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugeshpalya, Bangalore-560017.Copyright © 2022 InfoConnect Web Technologies India Pvt. Ltd., All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher. Design Girish M Mohana KrishnanVP - Sales & Marketing Amrit SinghCirculation Manager Magendran Perumal Editorial Ananth V Aveek Pal Chaudhuri Mandvi Singh Sthitaprajnya Panigrahi
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