Mumbai Metropolitan Region (MMR), constrained by limited land availability, continues its vertical expansion, boasting the highest number of skyscrapers in the country.
According to data from Anarock, 154 high-rise towers exceeding 40 floors were completed in MMR by 2023, and a 34% growth in such structures is anticipated by 2030. Despite trends in other cities, especially post-COVID-19, showing a shift away from high-rises, MMR remains steadfast in its preference for towering structures. Currently, the region has 361 high-rise towers over 40 floors. Of these, 154 have been completed, and over 207 are slated for completion between 2024 and 2030. “Skyscrapers are synonymous with Mumbai’s real estate landscape and increasingly define it. Apart from the extreme shortage of developable land, the city’s towering urban aesthetic symbolises its economic might,” said a property consultant. Between 2019 and 2023, 154 high-rises were added to the MMR market. By 2030, an additional 207 towers will be completed, all of which have already been launched.
Several factors contribute to the rise of skyscrapers in MMR. Exponential population growth, coupled with increased Floor Space Index (FSI) limits over the past decade, are primary drivers. In 2019, the state government further bolstered Mumbai’s real estate market by reducing the FSI premium for all residential and commercial projects for two years. “Developers welcomed this decision as it significantly reduced the input cost—the floor space premium—by up to 25% for residential buildings,” noted the consultant. The decreased construction cost, combined with high demand, encouraged developers to launch more high-rises. As of now, MMR has a total of 361 towers over 40 floors, either completed or slated for completion by 2030. South Central Mumbai leads with 103 towers, accounting for 29% of the total. Of these, 61 towers are completed, and 42 will be finished by 2030. Mumbai’s central suburbs follow with 87 high-rises, 42 of which are completed and 45 under construction. The western suburbs boast 80 high-rises, with 50 completed and 30 scheduled for completion in the next six years.
Thane, a recent adopter of the high-rise trend from its neighbouring Mumbai, has 61 high-rises. Only two towers are completed, with the remaining 59 under development. Navi Mumbai has 25 high-rise towers, with 10 completed and 15 in various construction stages.
