Non-Mumbai builders tap into financial capital via redevelopment projects

Mumbai's redevelopment market is big enough to accommodate more players like Bengaluru-based Sobha and Ahmedabad-based Arvind Smartspaces are evaluating opportunities

Despite strong balance sheets and deep expertise, building trust among buyers will take time

Real estate developers based outside of Mumbai such as Delhi-based DLF, Bengaluru-based Prestige Estates, Puravankara, Pune-based Blackstone-backed Kolte-Patil Developers, Vascon Engineers, and Hyderabad-based Ramky Estates, are foraying into India’s largest real estate market through redevelopment projects. While Mumbai has always been India's prime real estate market, policy-level incentives for redevelopments, less capital intensive nature of redevelopment business amid a lack of open land parcels, is attracting developers that are using asset-light strategies to get better realisations from high property rates. "For developers based outside the MMR, redevelopment offers an effective route to enter the Mumbai market, given the limited availability

Non-Mumbai builders tap into financial capital via redevelopment projects

Non-Mumbai real estate developers are entering India's largest real estate market through redevelopment projects, leveraging policy incentives and the capital-efficient nature of redevelopment. Companies like Sobha, Arvind Smartspaces, DLF, and others are exploring opportunities in Mumbai, where limited open land and high property rates make redevelopment an attractive strategy.