Maximum City's real estate triumphs, tribulations, and opportunities on the road to future-readiness

Mumbai (Maharashtra) [India], Nov 2 (ANI-NewsVoir): Anarock Property Consultants on Thursday released their research report 'Mumbai Redefined' in association with Acetech - the world's 3rd largest exhibition and Asia's leading trade fair for architecture, building materials, innovation and design, driven by Economic Times.

The report was unveiled by Maharashtra Chief Minister Devendra Fadnavis during the conference at Bombay Exhibition Centre in Goregaon, Mumbai.

The report's vast and all-encompassing scope covers myriad factors about Mumbai's dynamic real estate sector - from its earliest beginnings in the pre-independence British era to the current day - analyzing the ongoing opportunities and challenges, and suggesting real-time solutions.

The report highlights Mumbai's current state of real estate, ongoing and proposed infrastructure upgrades, decentralization of business centers, public-private partnership, enhancing Mumbai's livability quotient, and also recommended revamps for Mumbai.

"Mumbai is in the midst of major ongoing infrastructure upgrades, aimed at making the country's financial capital more livable and 'workable'. Simultaneously, slum rehabilitation and various other initiatives aimed at deploying more affordable housing have taken centre-stage in a city with the dubious distinction of having the highest real estate prices in the country. In 'Mumbai Redefined', Anarock explores Maximum City's triumphs, tribulations and opportunities as it gears up for future-readiness in the face of its present-day challenges," said Chairman, Anarock Property Consultants, Anuj Puri.

"This timely report coincides with a very exciting and important phase in Mumbai's real estate evolution. While it strives to attain the status of a truly global city, the country's financial capital must make rapid progress - not only in meeting the existing and future housing demand but also in embracing the concept of sustainable living, expediting the construction of affordable housing and harnessing the power of public-private partnership. 'Mumbai Redefined' highlights the efforts already underway by the State Government to bring in the required changes, simultaneously suggesting specific policy revamps and new ways in which real estate developers can view the road ahead," said CMD - ABE Conferences and Event Director - Acetech, Sumit Gandhi.

While the Government's focus on revamping Mumbai is tremendous, there is no denying that outdated processes, bureaucratic red tape and non-conducive market conditions still hinder Mumbai's evolution into a city that can face the future with confidence.

The city is buckling under its growing population - however. With a stronger political will, policy reforms and laser focus on bridging the infrastructure gap, the Mumbai Metropolitan Region can evolve as the most promising city for the current and future generations to live, work and recreate in. (ANI-NewsVoir)

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