Unregulated real estate hurting Mumbai
Mumbai’s economy has been hurt by an unregulated, hyper inflated and speculative real estate, which in turn would have its effect on the country’s economy.
The astronomical property prices are driving new businesses and expansion of existing ones away to other cities. The cost of acquisition of a facility to run business is very high in the island city.
The cost of acquisition of employees have also soared as they demand higher wages due to increasing residential property prices.
Residents of Mumbai are paying the burden of overpriced real estate on every consumable product and service as vendors and service providers transfer the escalating shop rents/mortgages to the consumer.
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[...] Unregulated real estate hurting Mumbai [...]
[...] Unregulated real estate hurting Mumbai [...]