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Mumbai: Will property prices decrease due to government policy?

As per a government norm about the new industrial policy, since 2005 corporate groups can use nearly 40% of their land for construction of houses and commercial shops. Mukesh Ambani and Anand Jain, who own 7,500 acres of land in the state and over 3,500 acres of land in Ulwe and Dronagiri which lie in Navi Mumbai can carry out property transactions under such a policy.

 

Industry experts are divided into two camps. One group believes that this might result in significant decrease in property prices particularly of properties in Navi Mumbai, while the other believes that the property prices will remain unaffected. Whether or not this policy will impact property rates in Navi Mumbai is a question, which will be answered in future times to come.

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