Mumbai, Sept. 21 -- The high property rates in Mumbai have made home ownership a distant dream for the common man.
However, there is a possibility that the Maharashtra Housing and Area Development Authority (MHADA) could reduce the prices of its homes by 8-10 percent, raising hopes that owning a house in Mumbai may soon become more affordable.
To strike a balance between fulfilling the aspirations of ordinary citizens and ensuring MHADA does not incur losses, the authority had set up a committee to recommend policy measures.
This committee has now completed its study and is expected to submit its report to the Vice President of MHADA's Mumbai Division within a week.
Meanwhile, not only in Mumbai but also across several cities in Maharas...