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Why are homes in Mumbai so expensive?


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ishwar gurnani
Why are homes in Mumbai so expensive?
by ishwar gurnani on Nov 04, 2015 06:37 PM

Heavy municipal charges are payable at each and every stage of new constructions. In most of the cases, the municipal charges are more than raw material cost like cement, steel, sand etc. In addition to that state govt levies Stamp duty and VAT. Lastly central govt collects Service tax and Income tax.
Our govts has been giving tax concessions to food and clothing industry, but it has been treating housing industry as one of its major source of income.

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manojcshah
real reason
by manojcshah on Nov 04, 2015 06:14 PM

One the writer must be in the pay pocket of some builders. The real reason is the politician mafia police and babus nexus. The actual cost of construction even today is never more than Rs 800/1000 per square feet.

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damodhar lal soni
only reason is black money
by damodhar lal soni on Nov 04, 2015 06:07 PM

the only reason for real estate market not correcting is the huge involvement of black money.people Mumbai being the financial capital of India, huge amount of black money is created.this money finds its way in real estate dealings with as much as 50% of the value thereby inflating the prices.until and unless these properties as sold,prices cannot come down.and this thing does not happen.hence the prices of real estate is maintained in Mumbai.

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Rajesh Chheda
Those who have surplus money prefer same building/area
by Rajesh Chheda on Nov 04, 2015 04:40 PM

This phenomenon has held property prices steady and not allowed them to deteriorate.
Otherwise seeing a correction upto 40% in prices from today's rate is normal considering lack of demand, liquidity crisis in real estate sector and availability of superior alternatives as one goes northwards.


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SUBHASH CHANDRA
AN ARTICLE PLEADING BUYERS TO BUY OVERPRICED MUMBAI FLATS
by SUBHASH CHANDRA on Nov 04, 2015 04:24 PM  | Hide replies

2 CRORE FOR A SMALL SIZE 2 BHK..
EMI 2 LAKHS /PM FOR NEXT 25 YEARS .

SAME FLAT IS AVAILABLE FOR 40,000 PM RENT .,

BETTER TO STAY ON RENT

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SUBHASH CHANDRA
Re: AN ARTICLE PLEADING BUYERS TO BUY OVERPRICED MUMBAI FLATS
by SUBHASH CHANDRA on Nov 04, 2015 04:31 PM
Sorry 2 BHK rental around 20-30K.. So more reason to stay on rent .
80% of households in Germany are staying on rent .
So its a new trend

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Rajesh Chheda
Re: Re: AN ARTICLE PLEADING BUYERS TO BUY OVERPRICED MUMBAI FLATS
by Rajesh Chheda on Nov 04, 2015 04:48 PM
Those who do not have huge capital, this is a practical alternative.

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siddhartha xx
Re: Re: AN ARTICLE PLEADING BUYERS TO BUY OVERPRICED MUMBAI FLATS
by siddhartha xx on Nov 04, 2015 06:10 PM
and at the end of it, you wont have any house in your name in your old age ? cant compare germany with india, their social security net is probably far better and gives sence of comfort to germans...and even so i dont see a sence in not attempting to get a house whether germany or mumbai...it's always good to know that if nothing else you will always have a roof above your head.

honestly though if one can maybe it makes sence to reasses priorities in anycase..maybe get a job in another city or get a home on outskirts at much cheaper cost and try and land a job which is closer with less travel time.....

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Bharat
Re: Re: Re: AN ARTICLE PLEADING BUYERS TO BUY OVERPRICED MUMBAI F
by Bharat on Nov 08, 2015 09:57 PM
The savings you do 2,00,000 - 20,000 Or 180,000 per month for 25 years gives you 5.5 Crores at 0% Int rate. If you take today's Interest rate (7%) this saving gives you 14 Crores at the end of 25 Years.. Germany will not give you the Social Security for this amount !!!!

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Prashant Ghatnekar
e33ybWhy are mumbai houses so expensive?
by Prashant Ghatnekar on Nov 04, 2015 04:15 PM  | Hide replies

all land buildings in mumbai must be nationalised. Then see the results.

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Bharat
Re: e33ybWhy are mumbai houses so expensive?
by Bharat on Nov 08, 2015 10:00 PM
What has 'nationalisation'to do with the cost Mr Ghatnekar. Give me a break.. one new term in ones dictionary and try to use it everywhere.

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Shivanand Prabhu
BUILD PLANNED CITY
by Shivanand Prabhu on Nov 04, 2015 11:33 AM

Mumbais infrastructure is crumbling.
Roads, Water, Sewarage is under pressure.
Can we have city like Chandigarh near Mumbai

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