Mumbai’s real estate market is witnessing a redevelopment surge in prime areas like Bandra and Colaba, driven by rising demand and government incentives. Experts warn of risks amid intense developer competition and price volatility.

The Nargis Dutt Nagar slum in Bandra will be redeveloped under Maharashtra's SRA, replacing shacks with three- and four-bedroom sea-facing flats, transforming the 2-acre Bandra Reclamation land into a modern residential hub.