Mumbai Buyers are not looking for apartments for sale
Mumbai Developers are facing very hard time in selling their properties. The market is so worst in Mumbai that three consecutive property exhibitions have been canceled.
According to Maharashtra Chamber of Housing Industry (MCHI) the situation arise due to some government policy.
Actual home buyers are not looking for a flat as the cost of the apartments are beyond affordability.
Maharashtra’s changing laws, taxes, duties and very slow clearing process leads to the situation, as the developers have very few projects to showcase.
After the proposal given to increase the stamp duty in Maharashtra, the demand for properties has been reduced.
Source: Firstpost
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