Affordable Housing in Mumbai... A Far Off Dream?

in Mumbai...

One of my colleague lately approached me to look out a house on rent in my vicinity, another friend needs to begin a new life moving to another house which he can call his own after marriage, and the third one needs to purchase a house for a secured life.



One thing that each of them three have in common is a desire to own a house, which is not an luxury but rather a need and the other thing in common is every one of them are looking out for housing that is affordable and decent. Can I discover a house like that in Mumbai? The answer is - it is extremely difficult. All the late development projects in the city are not undertaken keeping this aspect in mind. Affordable Housing has been replaced by luxury housing with very few current under-construction buildings guarantee a 1BHK or studio apartment. All that is up for are 3BHK, 4BHK and terrace apartments. The extravagant costs of these luxury houses make it a far off dream for all aspiring to live a decent life in the city of Mumbai.

In the present association, real estate houses rather then meeting the basic requirements of housing appeared to be focused on luxury where a swimming pool, a automated car parking zone and other such places are utilized to draw in buyers. Who are these buyers who can manage the cost of such luxury apartments? Many examiners infer that real estate transactions could easily be one of the easiest and most-accessed avenues for parking one's black money. Furthermore, taking a gander at the present pattern of luxury housing, one can well agree that just individuals who have enough black money and want to invest it somewhere can bear the price of luxurious hotel rooms in the name of houses.

Basically as a result of land limitation and further because of poor land use planning, the city has resulted in these present circumstances condition where absence of reasonable housing has prompted the expansion in individuals living in slums. Enough studies analyzing the slums of Mumbai can prove that, individuals living in the slums of Mumbai are not by any means poor however due to the lack of affordable housing in the city. A well-known  TISS professor at a meeting brought up how some populist measures like the SRA have been in responsible of the spiraling real estate prices in Mumbai.

The citizens of the city are waiting  tight for this housing bubble to blast with the goal that one can consider having one's very own place in the city. The truth will surface eventually whether affordable housing will turn into a reality or will always remain a far off dream.

#magicalmumbaiinfo