Mumbai is repositioning itself by bringing down its old fashioned buildings in favour of modern ones

Every year, the ‘city of dreams’ Mumbai, beckons millions of people from across India into its welcoming folds. Home to the biggest stars of Bollywood as well as Corporate India, the city’s property mart attracts the best of the best. King Khan’s villa Mannat in Bandstand, Anil & Mukesh Ambani’s towering Sea Wind and Ratan Tata’s palatial flat in Colaba and others are now tourist attractions. A potpourri of myriad cultures, Mumbai has an estimated population of nearly 12 million (as of 2005) and has the distinction of being the most populous city of India. Real estate prices in Mumbai have seen an almost 70% increase over the last couple of years. Moreover, Mumbai is looking to reposition itself by bringing down its old fashioned buildings in favour of modern ones: a big reason for a flourishing property mart.

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Source IIPM-Editorial,2006