Residential rates in Mumbai is increasing.

Q: I have shifted to Mumbai recently and wanted to buy a flat but now it is really impossible to buy as the rates are going high. How can I get such a huge amout of money? Why the rates of the flats are so high?

Sandeep Mhatre, Mumbai

4th November 2011

Neighborhood Issues in Mumbai

flats

high rates

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The rates of the property is increasing though there are lot of vacant place available. The developers does not want to compromise with the rates of the current project and on the other hand the property consultant are giving hint that the rates of the property will go down in the near future. With the increase in the rates the property buyers are suffering badly and the builder are making money. The reason why the rates have gone high because of the slow approval process of the government.