Mumbai and Infrastructure
Mumbai needs infrastructure
Times of India
By
Ajit Krishnan
Partner and Sector Leader, Real Estate and Infrastructure, Ernst & Young Pvt. Ltd. and Tarika Kumar
Senior Associate, Ernst & Young Pvt. Ltd.
What you see is what you believe and we believe that Mumbai needs urban infrastructure. It needs an upgraded urban infrastructure which can cater to demands of unimaginable proportions which no other city in the world has seen, because its challenges are unique and have not been witnessed in any other city in the world. Here are some facts:
Greater Mumbai with a population of 16.4 million houses twice as many people as those in New York City.
Mumbai Metropolitan Region (MMR) with over 25 million people is the second largest urban conglomeration in the world after Tokyo.
MMR with 1,700 times lesser area can be home to the entire population of Australia.
Suburban Mumbai has a density of 20,925 persons per sq. km which is twice as many people as that in New York (10,630 persons per sq km).
In Mumbai ward C, density goes well over 100,000 persons per sq. km.
Complement this with the fact that the Island city of Mumbai saw a decline in population losing 140,000 residents, while the suburban areas gained 13.2 million, mostly driven by lower real estate prices in the suburbs. Areas such as Cuffe Parade, Malabar Hill, Cumbala Hill and Warden Road in the island city have average residential prices ranging between INR 40,000-50,000 per sq. ft, which can go as high as INR100,000 per sq ft.
Quality developments within a more affordable budget have given a boost to areas such as Thane to the north of Mumbai. Thane district has seen a 35.26% increase in population between 2001 and 2011 against a national average of 17.6% (average residential real estate price in Thane ranges at INR4,000-6,000 per sq. ft).
While residential development has spread, commercial development still remains centred mostly around Nariman Point, Bandra-Kurla Complex, Lower Parel and
Times of India
By
Ajit Krishnan
Partner and Sector Leader, Real Estate and Infrastructure, Ernst & Young Pvt. Ltd. and Tarika Kumar
Senior Associate, Ernst & Young Pvt. Ltd.
What you see is what you believe and we believe that Mumbai needs urban infrastructure. It needs an upgraded urban infrastructure which can cater to demands of unimaginable proportions which no other city in the world has seen, because its challenges are unique and have not been witnessed in any other city in the world. Here are some facts:
Greater Mumbai with a population of 16.4 million houses twice as many people as those in New York City.
Mumbai Metropolitan Region (MMR) with over 25 million people is the second largest urban conglomeration in the world after Tokyo.
MMR with 1,700 times lesser area can be home to the entire population of Australia.
Suburban Mumbai has a density of 20,925 persons per sq. km which is twice as many people as that in New York (10,630 persons per sq km).
In Mumbai ward C, density goes well over 100,000 persons per sq. km.
Complement this with the fact that the Island city of Mumbai saw a decline in population losing 140,000 residents, while the suburban areas gained 13.2 million, mostly driven by lower real estate prices in the suburbs. Areas such as Cuffe Parade, Malabar Hill, Cumbala Hill and Warden Road in the island city have average residential prices ranging between INR 40,000-50,000 per sq. ft, which can go as high as INR100,000 per sq ft.
Quality developments within a more affordable budget have given a boost to areas such as Thane to the north of Mumbai. Thane district has seen a 35.26% increase in population between 2001 and 2011 against a national average of 17.6% (average residential real estate price in Thane ranges at INR4,000-6,000 per sq. ft).
While residential development has spread, commercial development still remains centred mostly around Nariman Point, Bandra-Kurla Complex, Lower Parel and