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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
Prashant Thakur predicts strong demand for both redevelopment and greenfield projects
«If you look at Mumbai, the entire city was dug up a couple of years back and we are seeing that all these infrastructure projects that started are seeing day of the light and that is why we are seeing a flurry of activity in the peripheral areas, where a huge amount of development are coming up, thanks to the connectivity,» says Prashant Thakur, Anarock Group.
Let me firstly ask about Mumbai because that particular market and the region has seen a lot of redevelopment activity, especially if you talk about prime areas like Worli. And not just Worli, let us talk about the suburbs as well, there is constant redevelopment day in and day out. If you could help us understand what is exactly driving this transformation, how do you see this impacting the overall real estate trends in the city?
Prashant Thakur: First of all, if you talk about Mumbai, or let us say MMR as a whole, it accounts for 45% to almost 48% of value of real estate sold across the top seven cities in the country. So, undoubtedly, it is kind of powerhouse when it comes to residential sales. And there are several factors apart from being the financial capital of India, the huge amount of job opportunity it generates, it has also seen a huge amount of infrastructure upgrade.
So, if you look at Mumbai, the entire city was dug up a couple of years back and we are seeing that all these infrastructure projects that started are seeing day of the light and that is why we are seeing a flurry of activity in the peripheral areas, where a huge amount of
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