"Redevelopment projects are a huge opportunity in Mumbai real estate market": Hiranandani Group

"Half of Mumbai city has the potential for redevelopment of its real estate" says Akshay Kumar, CEO of Park Lane Property Advisors in an interaction with CNBC-TV18. He adds "most of the construction in the city took place in 1970s, 1980s and 1990s and hence is many decades old". So the redevelopment in the city has huge potential especially in central and south Mumbai.