Yes Property prices are very high in Mumbai. Allegedly, one can't find a 1BHK inside of Borivali for Rs 60 lakh. Maybe this holds true for a new property, but buyers can always hunt for resale flat that'll fit in their budget. Inflation has st in, but then the land prices too have gone up by three times since 2003, along with construction and material prices. All these factors make it impossible for developer to make homes available in a lesser cost.
Story BY- Payal Kamat, MiD-DAY
Video By - Milind Salvi, MiD-DAY