India, Sept. 11 -- By 2030, Mumbai will have 44,277 new homes, added through 910 housing societies currently in different stages of redevelopment. This was revealed in Upgrading Mumbai - The Redevelopment Story, a report released by international property consultant Knight Frank.

Most of these new homes, that is, 32,354, will be built in the western suburbs, followed by 10,422 in the eastern suburbs, 1,085 in Central Mumbai, and 416 in South Mumbai. The total estimated market value is pegged at Rs.1,30,500 crore, covering 326.8 acres within the greater Mumbai limits.

The report, which explores how Mumbai is being reshaped by renewing ageing housing stock, notes that an estimated 1.60 lakh housing societies were aged 30 years and eligibl...