In Mumbai, the iconic Express Tower is a good example of a real estate asset in a prime location of India’s financial capital that is ideally suited for advantageous repositioning.
Redevelopment as a method of urban renewal may involve relocating businesses and people. It must produce tangible economic benefits so that the trouble and expense of redevelopment is justified.
Many of Mumbai’s older housing societies are showing signs of serious neglect. There are distinct safety and security issues and a complete absence of modern amenities. In this scenario, redevelopment is a sensible, viable, long-term solution – in fact, often the only solution.