Many developers believe that slum redevelopment adds asset value appreciation to the existing properties in the vicinity. This is a primary concern when it comes to town planning and infrastructure development. They say when a slum is redeveloped; the infrastructural development of the area in and around it is bound to happen.
The over-heated Mumbai property market is taking its toll on the property transactions and sales in Mumbai property is the lowest of the six major cities across the country. According to reports, over the last one year leading to December 2011, residential sales in Mumbai have dropped by 28 per cent.
It is a highly disappointing budget. The Finance Minister has miserably failed in highlighting the importance the role of Housing in economy, employment generation, apart from the very need of housing. The announcements on ECB for affordable housing is a minor respite but still meaningless.