Mumbai to add over 10k high-rise towers till 2030

Chennai: Mumbai will add 10,149 high-rise towers till 2030 to its existing 13,767 towers, thus registering a growth of 73 per cent. Mumbai’s affinity for skyscrapers has seen no signs of slowing down and by the end of 2030, Mumbai is expected to have a total of 23,916 high-rise towers.

Of this, 361 high-rise towers will have over 40 floors. It currently has 154 high-rise towers and 207 more will be added between 2024 and 2030, thus registering a growth of 34 per cent.

The city has 12126 high-rises with less than 20 floors and 8096 more will be added in the next six years. Similarly, there are 1487 high-rises with over 20 floors but less than 40. Around 1846 more such high-rises will be added by 2030.

Exponential population growth coupled with increased FSI limits over the last decade are among the main factors giving 'rise' to the number of skyscrapers in the region, finds Anarock group. Also, in 2019, the state government reduced the FSI premium for all residential and commercial projects in the city for two years.

"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, Anarock Group. "The decreased overall construction cost, coupled with high demand, prompted developers to launch more high-rises.”

The development of high-rises also helps decongest the city. Skyscrapers include amenities and residences in a single vertical space, thereby reducing residents' need to leave the premises for leisure pursuits. Apart from thereby easing traffic congestion, these buildings also tend to trigger significant infrastructure developments around them, including better roads and improved public transport facilities.