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Property price in Mumbai will rise

The Urban Development Ministry has proposed to increase the property taxes in Mumbai Municipal area.

The ministry planned to increase the funds for the development of Urban infrastructure.

Though the idea of investing more in urban infrastructure is appreciable, the outcome of increasing tax will make the houses unaffordable for the residents of metro cities.

Mumbai is known for expensive real estate market in the country. And with the proposal, the rate of rented apartments in Mumbai as well as property prices will rise more.

Due to all these reasons the transactions in real estate market is decreasing in Mumbai region.

It is going to be tough for the residents of Mumbai to stay there.

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Source : First post

One Response to “Property price in Mumbai will rise”

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