Mumbai, the city which is facing scarcity of land for the development of new real estate projects have come up with an idea of redevelopment. According to the experts redevelopment would help to tackle the problem of land shortage.The property prices are touching the sky and the city has very limited scope for expansion. Therefore redevelopment is only way that would benefit the city. There are arrays of building in the city that are in worse condition, hence redevelopment of such properties will influence the incentives offered by the state.For the process of redevelopment, the government allows Floor Space Index (FSI) of 2 for the private builders and in case of MHADA, the FSI is 3. Renowned realty players like Godrej properties, Unitech, Tata Housing, Kumar Urban Development etc. are some of the names who have currently tried their hands on redevelopment.Both the developers and the buyers find redevelopment option very feasible. The builders are profited by cutting down the cost of land purchasing. Apart from that redevelopment can also help in increasing the property value, creating job opportunities and to expand the infrastructure.According to the experts, redevelopment may also assist in reducing urban slumps and provide better prospects for safety and surveillance. The main problem is regulatory which is acting as a barrier in this redevelopment process.It is necessary that the government looks after the realty reforms and make the FSI norms flexible. If the policies are approved and gets clearances then there would be variety of housing stock options available.Another major hurdle is funding. The developers have to depend on domestic funding option as the government has not yet permitted foreign investment in the redevelopment plan. If all these problems are solved then the redevelopment plan will be successfully accomplished.займ на карту без отказов круглосуточновзять кредит онлайн