all the charges should be on second home onwards and no rebate should be on 2nd homes at all for the 1st time buyer all sops should be there as being basic requirement
real state Industry has kept corruption and mafia's alive. The corruption costs in Mumbai real estate are thousands of rupees a square foot and Gangster related charges another one thousand or so. Legal charges also huge component, actual construction cost mere 2500 rupees.
Re: Real Estate Bubble
by himanshu mehta on Apr 04, 2017 08:15 PM
Yes you are right..The corruption cost is rs 5000 a sq foot where as construction cost may be even less than what you have quoted.
It's surprising to see why people are mad after apartments in such highly congested and polluted areas of Mumbai by paying all their hard earned money. There are several completed residential projects by reputed developers which are available at half the price in Navi Mumbai. With very good infrastructure and connectivity coming up in this area, wise people would and should migrate to this well-planned city and decongest old Mumbai where all roads and drains are choked.
Roti, Kapda aur Makaan are the basic needs. It is duty of every govt. to levy minimum taxes on these commodities in the interest of the public at large. In our country, governments have been levying to tax or very reasonable taxes on basic food items and cloth (forget restaurants and designer cloths). But when it comes to housing, central govt., state govts., local bodies compete with each other to levy more and more taxes. The result is for every one to see. Better treatment was expected from new govt.
in India is already hyped (without any basic amenities) and expensive (and may be all the black money generated is invested in it, making it unreachable for honest people in India)
