Mumbai redevelopment market milestone: Housing sales overtake new project launches

Mumbai's housing redevelopment market has reached a key turning point, with housing sales from redevelopment projects surpassing new project launches for the first time, according to a report released at the NAREDCO Maharashtra Real Estate & Infrastructure Investors' Summit 2026 on Wednesday.The report, titled “Redevelopment in Mumbai: The Inflection Point, from land scarcity to systematic urban renewal”, said more than 1,000 redevelopment projects have been launched since 2020, accounting for around 13% of Mumbai’s overall residential supply.Redevelopment’s share of total housing sales rose to 15% in 2025 and the first half of 2026, from 6% during 2016-2021, indicating growing buyer preference for redevelopment projects over greenfield developments, the report said.“Mumbai faces a fundamental constraint that no regulatory framework can resolve: an absolute scarcity of developable land.