Only two hundredth of homes in Mumbai properties are literally reasonable for the common Mumbaikar, that too if Rs40 lakh is taken into account reasonable. the common worth of the remaining ninety eight of housing stock runs into eight figures and your lifetime’s savings won't add up to even the down payment.
The truth is that the concept of Affordable homes in Mumbai was never regarding the common man; it absolutely was a desperate try by panicky developers stuck within the recession of 2008 to revive their own fortunes.
Overnight, developers who specialised in penthouses began creating pigeon-hole pads to woo the common man and labelled them ‘affordable’ to woo elusive consumers. Fortunately for them — and sadly for home consumers the tide turned in 2009. The concept of reasonable homes that began as a promoting gimmick ended up being a joke on the common man. 1st it absolutely was Rs20 lakh, then Rs30 lakh, and currently it's Rs40 lakh. Soon it may be 0.5 a crore.
While Mhada is building thousands of flats and selling them at practically 0.5 the worth — it still makes a neat two hundredth profit by the means — non-public developers still cater to their choose band of loaded investors and greedy speculators. the matter is that the quantity of Mhada flats is far too tiny to create a big impact on the city’s demand-supply ratio.
The only real hope for the common man to urge actually reasonable housing might somewhat be an economic catastrophe. Let the cash markets choose a toss; costs can return crashing down and desperate builders are going to be solely too happy to supply homes at realistic costs. however here’s the catch: with cash laborious to come back by, can you be ready to afford them?
About Us :
NewAge Realfin Pvt. Ltd. could be a full fledged Real-estate broking services company giving customers a collection of product together with Investments, assets and residential loan services. Newagerealty is additionally known for, client oriented company. Where customer's desires & preferences shall strive against the highest priority & to satisfy their needs, shall be treated as our privilege duty.
The truth is that the concept of Affordable homes in Mumbai was never regarding the common man; it absolutely was a desperate try by panicky developers stuck within the recession of 2008 to revive their own fortunes.
Overnight, developers who specialised in penthouses began creating pigeon-hole pads to woo the common man and labelled them ‘affordable’ to woo elusive consumers. Fortunately for them — and sadly for home consumers the tide turned in 2009. The concept of reasonable homes that began as a promoting gimmick ended up being a joke on the common man. 1st it absolutely was Rs20 lakh, then Rs30 lakh, and currently it's Rs40 lakh. Soon it may be 0.5 a crore.
While Mhada is building thousands of flats and selling them at practically 0.5 the worth — it still makes a neat two hundredth profit by the means — non-public developers still cater to their choose band of loaded investors and greedy speculators. the matter is that the quantity of Mhada flats is far too tiny to create a big impact on the city’s demand-supply ratio.
The only real hope for the common man to urge actually reasonable housing might somewhat be an economic catastrophe. Let the cash markets choose a toss; costs can return crashing down and desperate builders are going to be solely too happy to supply homes at realistic costs. however here’s the catch: with cash laborious to come back by, can you be ready to afford them?
About Us :
NewAge Realfin Pvt. Ltd. could be a full fledged Real-estate broking services company giving customers a collection of product together with Investments, assets and residential loan services. Newagerealty is additionally known for, client oriented company. Where customer's desires & preferences shall strive against the highest priority & to satisfy their needs, shall be treated as our privilege duty.
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