Singapore

MUMBAI'S long-cherished dream of becoming another Shanghai risks remaining just that as regulatory flip-flops frustrate plans for modern skyscrapers in place of the city's many rickety-old structures.

Two months after announcing a proposal to ease the city's 24-year-old Floor Space Index rules to accommodate taller buildings, the local administration scrapped the plan, leaving developers in a limbo. DB Realty Ltd said it may take at least two more years for a new set of rules to be prepared, while Mumbai-based Godrej Properties Ltd said some of its projects face delays.