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Two decades ago Mumbai witness redevelopment process after the Maharashtra government framed rules for the division. For the initial years, the house owners were not sure about the regulations thus it began with small projects. Years later they were permitted to build added flats in a given area and sell them at industry rates. While only small developers took up such projects in the beginning, the market has gained stability down the line as big groups started taking such projects as their chief profession. Mumbai being a coastal city, it isn’t a tough step to sink the buildings. The humid and moist climate permits for faster demolition. Every year more than 100 buildings are declared as rundown. The redevelopment began with uplifting the slums in the city, and the trend came into being with leading developers like Hiranandani Group, Godrej Properties, Oberoi Realty and HDIL. In extreme westerns like Mira-road which was once a deserted area, today leading developers and accommodation like Gaurav society present an exclusive modern residential township. Since collapsing of old buildings is easy in Mumbai, the real estate groups are now exploring markets for redevelopment projects, thus benefitting residents and developers. However historic areas in Mumbai suburbs have created a heritage landmark, thus the developers need to be extremely careful regarding legal procedures and regulations. When your old slum has turned into a well-furnished flat it is like a dream coming true, even if you were a tenant or the owner. However ruined buildings often on the threshold of collapse are a depressing reality for thousands of Housing Societies across Mumbai city and its suburbs. With structural strength already poorly affected and conditions deteriorating leads to the possibility of redevelopment of the properties rather than spending all your earnings on repairs and modifications. Though uptown builders believe that redevelopment will lead to advance infrastructure of the city, as whenever a building is reconstructed more ground is presented by the method of road widening. Also, with shortage of land around us, every Mumbai citizen can’t have a choice but needs to consider redevelopment as his/her duty. However, it is a fear that if redevelopment projects in Mumbai are going to be at such a rising price it may cause a big trouble for city planning and progress. The original lodger of a redeveloped building acquires a newly built flat that larger than the old one. You also get better infrastructure, latest amenities, facilities etc, driving the value of property and giving you a complete new home. Finally what does redevelopment mean Mumbai? Re-development can be a cost-effective tool that offers extra and superior quality housing. It offers jobs, develops business prospects and enhances property values. Developers do not need to hunt for new land but gets to sell the extra area after redevelopment at market price and recover cost as well as earn margin. Also, redevelopment eliminates city’s crumble, resulting in improvised infrastructure. Reduced urban sprawl, improved economic status and better opportunities for safety and travel are the other potential benefits of redevelopment. So developers and residents enjoy a win-win situation of the ground that is being redeveloped. Ravi Group is leading real estate developer in Mumbai. This time Ravi Group launched its kind of unique project Ravi Group Gaurav Excellency. Ravi Group Mira Road project offers 1/2/3 bhk luxurious apartments with exclusive designed homes.
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