Rs 1.5 lakh per sq ft: South Mumbai societies wooed with 5-star lunches as developers pitch crores-worth redevelopment

Mumbai's Altamont Road housing society is a hot target. Three top developers are vying for its redevelopment. They are pitching offers at a luxury hotel this weekend. The developers are booking banquet halls and restaurants. This is to impress society members. Redevelopment mania is escalating in Mumbai's prime areas. Developers see this as a necessary business development exercise.