Mumbai’s real estate redevelopment market grew 16% in 2025 compared to the previous year, driven by a rise in redevelopment deals across the city. A total of 229 development agreements (DAs) for the redevelopment of old buildings were signed in 2025, up from 196 in 2024, according to data from Knight Frank India.
The momentum continued into 2026, with nearly 30% or 70 of the total redevelopment agreements for 2025 signed within the first 74 days of the year, up to March 15, the data showed.
Total of 1,094 DAs signed in the last 6 years
According to Knight Frank India data, a total of 1,094 DAs have been signed in the last six years from January 2020 to March 15, 2026. A total of 432 acres of land has been unlocked for redevelopment through the signing of these 1,094 redevelopment deals.
Western suburbs have the highest number of redevelopment deals
The western suburbs in the Mumbai real estate market have the highest share of redevelopment agreements signed in the last six years. According to the data, out of the total 1,094 DAs signed, 773 were from western suburbs, unlocking 321.2 acres of land, followed by 261 DAs signed in the central suburbs, unlocking 85.9 acres of land, 38 DAs signed in Central Mumbai unlocking 38 acres of land, and 22 deals signed in South Mumbai, opening up 8.3 acres of land.
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Borivali leads with 20% of the total redevelopment deals
Out of the total 1,094 DAs signed, Borivali in Mumbai’s western suburbs had the highest number with 217, unlocking 90.4 acres of land, followed by Andheri, with 115, unlocking 74.8 acres of land.
The third highest number of 74 DAs were signed in Bandra, unlocking 24.4 acres of land, followed by Malad, where 67 DAs were signed, opening up 26.6 acres of land, and Ghatkopar, where the fifth highest number of 59 DAs were signed, opening up 14.1 acres of land for redevelopment.
Old building redevelopment to add 59,000 units
According to the data, the signing of nearly 1,100 DAs has resulted in the generation of 59,000 housing units, of which over 45,000 will be built in the western suburbs, over 11,800 in the central suburbs, over 1,600 in Central Mumbai, and 731 in South Mumbai.
Knight Frank India conducted a unit generation analysis based on the Floor Space Index (FSI) for sale areas; rehab and amenity areas have been excluded. The data indicate that the unit generation estimate is based solely on the supply side and does not factor in launch velocity, financing, or phasing constraints.
The report said the redevelopment projects would generate housing units worth ₹1.5 lakh crore and fetch an estimated ₹9,115 crore in stamp duty revenue for the state government.
FSI norms for redevelopment
According to Knight Frank India, most society redevelopment projects are currently being undertaken under the Development Control Regulation (DCR) 33(9), 33(11), and 33(20b). These regulations provide the maximum possible Floor Space Index (FSI) for redevelopment. The available FSI depends on the road width abutting the housing society.
