Page 14 - வீட்டுவசதி வளர்ச்சி நிதி கார்ப் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Mumbai Homes May Become Cheaper As Levies Are Slashed Mumbai Homes May Become Cheaper As Levies Are Slashed Due to scarcity and high cost of land in Mumbai, developers prefer to build vertically, often more than what the ratio of floor space to total plot area allows. Construction creates the most jobs in India each year. Homes prices may fall in Mumbai, India s costliest housing market, after the local administration slashed levies by as much as 50% until December 2021. Maharashtra state cut various levies on construction projects on the recommendation of a government-appointed committee headed by Deepak Parekh, chairman of Housing Development Finance Corp. The move will likely bring down development costs for most builders and result in lower home prices for buyers in addition to boosting stocks of realty developers.

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