Key Points
Notorious for being the most expensive city in India, in terms of real estate to start with, authorities are making matters worse for those buying real estate in Mumbai by charging hefty premiums and development charges...
A TOI in a report on Saturday noted that builders in Mumbai are being forced to pay large bribes to the authorities to procure building permissions...
Civic activist Nitin Killawala told TOI that there is no justification for why faraway suburbs, say Goregaon or Mulund, should cost more than properties in Dubai..
Rs 22,500 per sq ft) with world-class infrastructure," he said.. Killawala asserted that it is the flat purchasers who are forced to bear the brunt of not only the high premium charges but also the bribes that builders have to pay..
Remarkably, the share of registration of properties valued at Rs 1 crore and above continues to rise, led by surge in property prices and increasing preference among homebuyers for more spacious accommodation," Knight Frank India Chairman and Managing Director Shishir Baijal said...
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