Pursuits
Mumbai Mulls China-Like Skyscrapers in Makeover
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Mumbai is seeking to amend its 24-year-old building rules that allowed slums to mushroom and kept housing beyond the reach of most of its 19 million residents.
The island-city, which has little land available for development, is proposing changes to its Floor Space Index regulations that may permit developers to tear down old structures and build taller towers. This may be good news for companies including Oberoi Realty Ltd., Sunteck Realty Ltd., Peninsula Land Ltd. and Godrej Properties Ltd., according to Edelweiss Financial Services Ltd.