MMR's Skyscraper Surge: 34% Increase In High-rises Over 40 Floors By 2030

The Mumbai Metropolitan Region (MMR) is set to witness a significant vertical growth, with the number of high-rise towers over 40 floors expected to increase by 34 per cent by 2030. According to the latest data from ANAROCK, MMR currently boasts 154 high-rise towers of over 40 floors, with an additional 207 towers slated for completion between 2024 and 2030.

Anuj Puri, Chairman of ANAROCK Group, highlighted the city’s trend towards skyscrapers: "Skyscrapers are synonymous with Mumbai’s real estate landscape, and increasingly define it. Apart from its extreme shortage of developable land, the city's towering urban aesthetic has become an apt symbol of its economic might."

According to ANAROCK Research, the number of high-rise towers in the Mumbai Metropolitan Region (MMR) has seen significant growth. As of 2023, MMR had a total of 13,767 towers, with 12,126 under 20 floors, 1,487 between 20 and 40 floors, and 154 exceeding 40 floors. Looking ahead to the period between 2024 and 2030, projections indicate a substantial increase with a total of 10,149 towers expected to be completed. Of these, 8,096 will be under 20 floors, 1,846 will range between 20 and 40 floors, and 207 will surpass 40 floors, marking a notable rise in the region's vertical expansion efforts.

MMR's affinity for skyscrapers contrasts with other cities that have reversed the trend post-COVID-19. The region, with its extreme land scarcity, continues to pioneer vertical growth in India.

In the zoning classification of high-rise towers in the Mumbai Metropolitan Region (MMR), South Central Mumbai emerges as the dominant player, boasting 103 towers, which accounts for 29 per cent of the total high-rises in the region. Among these, 61 towers have already been completed, while 42 are currently under construction. Moving to Mumbai's Central Suburbs, the area is slated to witness the development of 87 high-rises, with 42 already completed and 45 in various stages of construction.

Meanwhile, the Western Suburbs of Mumbai are projected to have 80 high-rises, with 50 towers already completed and 30 more expected to be completed by 2030. Thane, an emerging trend in high-rise development, is seeing a surge with 61 towers planned, although only 2 have been completed thus far, with the remaining 59 under development.

Navi Mumbai, on the other hand, hosts 25 high-rise towers, with 10 already completed and 15 under construction. In the peripheral areas of Central and Western Suburbs, high-rise activity is limited, with only 5 completed towers. Notably, micro-markets such as Byculla, Worli, Lower Parel, Prabhadevi, Mahalakshmi, Marine Line, Mulund, Chembur, Kanjurmarg, Santacruz, Malad, Goregaon, and Thane city emerge as the definitive hotspots for skyscraper development in the region.

Skyscrapers and Urban Development

Puri explained the factors driving this trend: "Exponential population growth coupled with increased FSI limits over the last decade are among the main factors giving 'rise' to the number of skyscrapers in the region. The state government's 2019 decision to reduce the FSI premium significantly lowered construction costs, prompting developers to launch more high-rises."

High-rises not only help decongest the city but also reduce the need for residents to leave their premises for leisure, thus easing traffic congestion and prompting infrastructure developments such as better roads and improved public transport.

Currently, MMR boasts 61 high-rises with more than 60 floors, with South Central Mumbai alone accounting for 28 of these towers.

"The tallest towers in the Mumbai Metropolitan Region are not just architectural marvels," Puri added. "They are also emblematic of a city always on the move. And of course, skyscrapers are really Maximum City's only logical response for the need to balance growth with sustainability."