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Mumbai real estate drawbacks

Comments(6) Sub Category:Uncategorized Posted On: Dec 20, 2011

Today Mumbai real estate industry is facing serious problems and this has been happening because of the improper governance in the real estate sector.

Rs 800 crore worth real estate deal is bouncing in the hands of top city builders encouraging illegality in it’s construction and transactions.

The state government itself agrees saying that the Mumbai city builders are not the most conscientious and the same has been witnessed by residents of Pimpalwadi at Girgaum in south Mumbai.

However, the real estate experts say that the confusion and controversies begin with the Transfer of Development Rights rules. Therefore the illegal building mafia, un-affordable property prices and also lakhs of houses in the city remain unsold!

Source: Mid Day

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