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Amid the state government's decision to increase the base Floor Space Index (FSI) in the suburbs from 1 to 1.
33, the number of such projects is likely to increase in the city.
Recent media reports suggest that almost all construction projects (mainly in the prime areas) involve redevelopment of land.
Buildings that are as old as 20 and 50 years have an unutilised FSI.
These constructions are being razed to make way for modern skyscrapers where the FSI specifications are uitlised to the optimum.
Recently136 families of Suman Nagar society (in Chembur) were offered flats by a prominent real estate developer, in return to their land.
These flats were double the current area space of their present flats (500-1000 sq ft) and an exorbitant price of 7,000 Rs/sq ft was offered for the existing area.
Also, each resident was assured enclosed space for car parking.
The developer plans to build a commercial tower on a part of the 5-acre plot.
Over the last three years Mumbai has witnessed a large number of redevelopment projects taking shape all over the city.
In the western suburbs of Mumbai, of the total 1,554 construction projects, 863 are redevelopment projects have been reported.
Similarly, in the Bandra-Khar-Santacruz belt, out of 181 projects sanctioned over the last three years 152 are for redevelopment.
In the eastern suburbs (including Chembur), has already seen 98 such redevelopment projects.
Though urban planners believe that redevelopment will help in strengthening the infrastructure of the city, as whenever a building is redeveloped more land is made available by way of setback for road widening.
Moreover, bearing in mind the scarcity of land, redevelopment is not a choice any longer but an obligation, feel industry experts.
However, others believe that the startling rate at which redevelopment projects are taking off in Mumbai it may spell trouble for city planning and development.
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