Question looms over Shiv Sena’s control on Mumbai realty
After the demise of Shiv Sena chief Bal Thackeray, specualtions are high regarding the control of Shiv Sena over Brihanmumbai Municipal Corporation (BMC). BMC is perceived as a mini-government within Maharashtra state and it directly controls one of the World’s most costliest properties in greater Mumbai.
Developers since the past few years have been relying on Shiv Sena-BJP alliance which controls BMC. Shiv Sena, within BMC began to create links with property developers since 1980′s. Realty firms found that various issues like land acquisition became easier once they have the backing of Shiv Sena.
Various projects helmed by Shiv Sena have helped the city’s property market grow. The slum rehabilitation scheme offered the builder to get access to land acquired by government and build houses for the poor in parts of the acquired land. The 55 flyovers build in Mumbai at a budget of 1600 crores have helped to increase the property prices, much to the delight of realty developers. Similarly, the Mumbai-Pune Expressway and the sea link also increased the property price.
Now that Balasaheb is dead, question looms large over the control of Shiv Sena over the real estate scenario in the city.
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