Mumbai: The impact of the COVID Pandemic has become so widespread that even the heights of the buildings could not be saved from it. According to a latest research report, the share of high-rise buildings in the top-7 cities of the country declined to 52% last year, from 63% in the pre-Covid year.
However, this decline was not as sharp as in the Mumbai Metropolitan Region (MMR). It has come down from 69% in 2019 to 62% in 2021.
was growing, vertical development
The research report said that vertical development has been one of the biggest features of Indian urbanization over the past decade, but it has changed since then. Of the 1,178 projects launched in the top-7 cities last year, 614 were high-rise buildings of ground + 10 storeys or more. In 2019, 603 out of 960 projects were high-rise. The newly launched projects include apartments, villas, row houses and independent buildings. Of the 486 residential projects launched in the top seven cities in 2020, 291 (60%) included skyscrapers.
read also
Highrise Building in MMR
In Mumbai, MMR, the trend of high rise buildings increased in view of the constant land shortage. The process of construction of high-rise buildings in MMR has accelerated over the years. Of the nearly 360 projects launched in 2019, 250 (69%) were high-rise buildings, while out of 421 projects launched at MMR in 2021, about 263 (62%) were high-rise. It has seen a decrease due to Corona and other reasons.
Construction cost hiked: Jitendra Mehta
Jitendra Mehta, President, MCHI-CREDAI Thane Region, said that the construction cost of highrise buildings has increased significantly, while the prices have not increased. Developer Mehta said that the higher the building, the higher the maintenance cost. In view of this, affordable housing is being preferred more in low-rise buildings.
Demand for bigger apartments: Rajan Bandelkar
According to Rajan Bandelkar, National Chairman of NAREDCO, some circumstances have changed due to COVID. Along with large apartments, the demand for affordable flats has increased. Buildings are being constructed as per the demand in MMR. In Mumbai and other big cities, high rise buildings are necessary in view of the problem of land, but their construction cost has also increased significantly. After COVID, now real estate is coming back on track. Home buyers are showing enthusiasm.
Affordable housing growth
It was told that there is an increase in affordable housing with apartments. The MMR region is seeing a significant increase in the launch of small, low-rise buildings in 2021. About 56,880 units were launched in 2021 across 421 projects of MMR, while in 2019, around 77,990 units were launched in over 360 projects. Pune’s tall buildings also declined. From 89% in 2019 to 72% in 2021. Of the 235 projects launched here in 2021, 170 were high-rise, while in 2019 185 projects were launched, of which 165 were high-rise.