Should You Buy Property in a Redevelopment Project?
In land-starved cities like Mumbai, redevelopment projects are reshaping the skyline—especially in prime areas like Chembur, Bandra, and Andheri. But is buying a flat in a redevelopment project the right move for you? Let’s break it down.
1/13/20261 min read
What is Redevelopment?
Redevelopment refers to tearing down old buildings and reconstructing new ones—either by a developer or a housing society. This usually happens when buildings are over 30–40 years old and unsafe.
Example: Chembur has seen several MHADA and private society redevelopments in recent years, boosting livability and infrastructure.
Advantages of Buying in a Redevelopment Project
1. Prime Location at a Better Price
Redeveloped properties are often in established neighborhoods with great connectivity
Price is usually lower than new launches in the same area
2. Modern Living in an Old Locality
Enjoy new construction quality, better amenities, and more open spaces
3. Lower Maintenance Charges Initially
New infrastructure = fewer repairs = lower upkeep
4. Higher Appreciation Potential
Redeveloped areas typically see a price boost post-completion
Risks and Challenges
1. Project Delays
If redevelopment is stuck due to legal or society-related issues, possession may be delayed
2. Unclear Titles
Some older societies may not have clear ownership documents or approvals
3. Displacement Issues
In some cases, tenants dispute terms, causing construction delays
4. Temporary Lack of Social Infrastructure
Until other redeveloped buildings are complete, social setup might be lacking (shops, schools, etc.)
How to Evaluate a Redevelopment Project
Check the developer’s track record in similar projects
Ensure RERA registration and full disclosure of plans and possession dates
Visit the site and ask about society approvals, timelines, and legal status
Redevelopment in Chembur – A Case Study
Chembur has become a top pick for redevelopment due to:
Proximity to BKC, Navi Mumbai, and SoBo
Seamless access via Eastern Freeway, Monorail, and upcoming Metro 2B
Increasing number of luxury towers replacing old societies
If you're investing in Chembur, redevelopment projects can be a goldmine—if chosen wisely.
Conclusion
Buying in a redevelopment project can offer great value, prime location, and modern living, but you must do your due diligence.
At Chembur Property, we help buyers evaluate redevelopment projects with complete transparency—legal checks, RERA status, possession timelines, and more. Looking to invest in Chembur’s redevelopment boom? Let us guide you to the right property.
