Answered on November 08, 2017
Mumbai has been the major attraction for immigrants from rest of the country because of its fast overall developement and high employment opportunities. Few reasons influencing no reduction in property prices : a) The constant need of migrators to Mumbai encourages landlords to hold on to high prices. b) There has been constant increase in premiums payable to MCGM ; c) Cost of construction has been constantly increasing and Finally, d) Till the outskirts of Mumbai city are fully developed there is no reason for Reduction in property prices
