The dream of having a small and beautiful home in Mumbai has now become an improbability as the prices of property have skyrocketed in the previous months. How can the salaried class afford to buy houses to the tune of Rs.50 lakh in new housing schemes? Approximately 46 % flats are priced at more than 1 crore. Liases Foras Agency, which is the research agency of real estate India, submitted that one room kitchen set and one-bedroom flats have now reached the cost of Rs. 40 to 50 lakh. The developers of Kurla - Tilak nagar to Mulund and from Colaba to Dahisar and Mulund have constructed flats at very pricey rates.
Developers provide almost everything- swimming pools, clubhouses etc. in the colony. Buyers also demand everything in their home at low cost and this is simply not possible. The middle class has only one option that is to wait and watch the market moves. Even the bank managers are not able to buy a house in a good area. The manager of a bank in Cuffe, Parade Abhijit Satpute told that he has a budget of Rs.35 lakh but the cost of the one bedroom flat is now above 50 lakh.
Developers provide almost everything- swimming pools, clubhouses etc. in the colony. Buyers also demand everything in their home at low cost and this is simply not possible. The middle class has only one option that is to wait and watch the market moves. Even the bank managers are not able to buy a house in a good area. The manager of a bank in Cuffe, Parade Abhijit Satpute told that he has a budget of Rs.35 lakh but the cost of the one bedroom flat is now above 50 lakh.
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