Market-led Housing Redevelopment Practices in Indian Metropolitan Cities: Insights from Pune

By : Shruti Vaishampayan, Sanjukkta Bhaduri

Page No: 1-19

Abstract
Market-led redevelopment of private housing, particularly Cooperative Housing Societies and Bungalows (single family detached houses), is emerging as a popular form of redevelopment in inner-city neighbourhoods of Indian metropolitan cities. Enabling policies of the State governments and local authorities encourage redevelopment of housing stock of more than 30 years of age for optimum utilization of serviced urban land and existing infrastructure in inner cities. High land values in inner cities combined with policy incentives such as increased floor space index (FSI) create business opportunities for private real estate developers resulting in extensive redevelopment of private housing societies carried out in joint partnership with housing cooperatives – bringing substantial changes in residential neighbourhoods. Through an in-depth literature review, field observations, and detailed interviews with 18 experts (architectural/ legal/ financial consultants specializing in redevelopment, re-developers, and members of redeveloped housing cooperatives), this paper presents a critical examination of housing redevelopment policies and practices in Pune, India highlighting potential gentrification implications of this emerging form of redevelopment.

Authors :
Shruti Vaishampayan : Ph.D Scholar, School of Planning and Architecture, New Delhi; Assistant Professor, NICMAR University Pune, Maharashtra
Sanjukkta Bhaduri : Professor of Urban Planning, School of Planning and Architecture (SPA), New Delhi, India.
 

DOI: https://doi.org/10.32381/NL.2023.55.04.1