The severe shortage of land in the financial hub of India, Mumbai has resulted in sky-rocketing land prices. Currently, Mumbai has invited a highest deal of Rs. 1, 155 crore which involved the sprawling 25 acre land possessed by Tata Steel. As scarcity of homes has become a major issue, over past decade, the city has recorded some extraordinary property transactions. Mumbai had set a national record of land transaction worth Rs. 4,000 crore, four years back.Mumbai is one of the most populated cities in the world. Despite of the fact, city’s half population lives in shanties, still the city faces land shortage due to the ever increasing population. Some areas of the country’s financial and commercial capital cover around 40,000 dwellers in a sq km.The city’s overall land area is hardly 480 sq km, out of which the buildable area is much lesser of 200 sq km in which over 12 million are dwelling. As per a survey, the city needs over 2.1 million homes with a yearly requirement of about 2 lakh residential units. However, private real estate developers have mostly captured the property market of the city and hence they make a practice to deliver around 25,000 residential units every year. Still, this supply does not meet the rapidly increasing demand and that is why the land prices are astronomically increasing.To control this situation, the local authority must fix the government’s idea of development plan. They have to undertake valuable land use pattern, create more housing options with the help of land pooling policy and offer it to the citizens.займ на карту без отказов круглосуточновзять кредит онлайн