Redevelopment makes demand arrested locally

Redevelopment makes demand arrested locally

By Dr. Sanjay Chaturvedi

Redevelopment of projects is not only arresting the demand loacally but also restricting the migrating trend within the locality. Since redevelopment gives almost free, the enlarged accommodation with better ameneities, people are reluctant to migrate to different localities within the city. A project at South Mumbai which goes for redevelopment gives better opportunities to the occupants and give them better homes on the same location.
This trend is not only restricting the demand spreading out because of enahncing family size but also giving better opportunities to save on purchasing new homes. Talking Accommodation Times, Mr. Sunil Bajaj, a project consultants and branding expert says that locals are restricted to the same localities in Mumbai. People are getting free homes with new and better accommodation.
With htis trend, demand is restricted. Slums and redevelopment occupants are getting free homes. Hence it will certainly restrict inclusive growth of local demand.