Mumbai turns giant construction site, is adding 5 Nariman Points

Mumbai has experienced an intense construction boom, with ongoing real estate construction activity covering an area equivalent to five times the size of Nariman Point. The surge in construction was a result of the state government's decision to halve premiums for builders during the Covid lockdown in 2021. The BMC earned a record Rs 15,000 crore from developers that year. However, this construction frenzy has contributed to the city's worsening air pollution, with a toxic haze hanging over Mumbai. The growth in construction is driven by discounts in premiums, increased FSI, and the housing market in the Mumbai Metropolitan Region.