Roti, Kapda Aur Makaan (Food, clothing and Shelter) are the fundamental human demands. Amongst these Shelter has become a significant problem in our country which is fast urbanizing. Mumbai being the financial capital of India is one of the most urbanized cities in the country. Housing in urban places assumes much better significance, as it relates not only to basic shelter needs but also provides a facility to the citizens to access services and be a element of the development process. Housing is not only about development of bricks and mortar; it also includes the supporting infrastructure, access to transport and work opportunities.

Redevelopment is the approach of reconstruction of the household/commercial premises by demolition of the existing structure and development of a new structure. This is done by making use of the possible of the land by exploiting further TDR, FSI as specified under the Development Control Regulations of Municipal Corporation of Greater Mumbai (MCGM).

The big question that arises is Why is the Redevelopment Required?. For existing owners, the Buildings in Mumbai are in a need of repairs, and the societies do not have enough finance to carry out the fixes and also the families have expanded and they need to have a bigger space to support themselves. As present residentialproperties in Khargharare up since several years and so not have the newest features and amenities available in the latest projects. When it comes to commercial properties in Belapur are raising with an affordable lease rates and ample office space. They do not have services such as security, cleaning and to operate pumps, absence of frequent facilities like gymnasium and a society office and unavailability of right playing area for children in the compound redevelopment is the need of the hour.

There are constraints on the availability of open land within the city limitations coupled with rapid expanding desire for houses and shortage of housing inventory. On the other hand there are thousands of aging properties which are dilapidated and have reached a phase where it is not feasible to carry out structural repairs and rehabilitation as the same are not economically workable. The necessity of redevelopment of old buildings has become prior as the problem of old and dilapidated buildings in the Mumbai city grows more acute with each moving year and monsoon, more number of building becomes dangerous and not usable for habitation. Such buildings have to put down as they are unrepairable and the only solution is reconstruction of those buildings. Reconstruction of structures are also the main portion which is receiving increase in Mumbai Real Estate.