 "Mumbai skyline, skyscraper")
The Mumbai metropolitan region (MMR) currently has 154 skyscrapers with over 40 floors, and this number is likely to jump 34 per cent to reach 207 by 2030, according to data released by real estate consultancy Anarock on Thursday.
It added that MMR is an outlier in this as most other cities have seen a fall in the number of skyscrapers since the Covid-19 pandemic.
The main reasons behind this are the high growth in population size and the increased floor space index (FSI) limits over the last decade. FSI is the maximum allowable built-up area on a plot of land in the city.
Moreover, in 2019, the state government reduced the FSI premium for all residential and commercial projects in the city for two years, providing relief to developers.
"Developers obviously welcomed this decision, as it reduced a significant input cost — the floor space premium — by up to 25 per cent for residential buildings," said Anuj Puri, chairman at Anarock Group. "The decreased overall construction cost, coupled with high demand, prompted developers to launch more high-rises."
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The development of high-rises often helps in decongesting the city. Moreover, these amenities and residences are in a single vertical space, thereby reducing residents' need to leave the premises for chores.
Apart from easing traffic congestion, these buildings also tend to trigger significant infrastructure developments around them, including better roads and improved public transport facilities.
Anarock also highlighted that of the 361 towers, 154 are completed and 207 are incoming, the highest number being in South Central Mumbai at 103. Of these, at least 61 towers are completed and another 42 will be completed within the 2024-2030 period.
Central suburbs rank next with 87 high-rises. Of these, 42 are completed and another 45 towers are under construction. The western suburbs have 80 high-rises, with 50 towers already complete and 30 towers scheduled for completion in the next six years.
