There are several reasons why real estate in Mumbai is expensive. Some of the main factors that contribute to the high cost of housing in the city include:
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Limited land availability: Mumbai is a densely populated city with limited land available for development. This scarcity of land drives up prices, particularly in areas that are in high demand.
High demand: Mumbai is a major financial and commercial hub, attracting a large number of people who are looking for housing and driving up demand.
Lack of affordable housing: The lack of affordable housing in Mumbai is a major issue, as the city's rapid population growth has outpaced the development of new housing. This has led to high prices for even basic housing in the city.
Infrastructure constraints: The city's infrastructure, including roads, public transportation, and utilities, is strained by the large population, which can make it difficult for developers to build new housing.
High taxes and fees: Taxes and fees, such as stamp duty and registration charges, are also a major contributor to the high cost of housing in Mumbai
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