With towering rates of residential property in Mumbai, the middle class man is left out helpless across the city’s housescape, where prices rival London, Tokyo and other expensive cities. Easily Mumbai can be rated as one of the most high-priced places for those looking to buy a house. The situation has come with the decision of the state housing authority to increase rates of its housing stock by around 40 per cent in 2007.
The flats which were earlier supposed to come under the limit of affordable housing are now no more in the picture. Now, the flats built by the Maharashtra Housing Area Development Authority are the only ‘economical’ housing option available in Mumbai
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