Lack,infrastructure,stalling,r business, insurance Lack of infrastructure is stalling real estate growth in Mum
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If that isn’t the case, home buyers will shun the city and developers will no longer be interested in starting new projects, therefore stalling real estate growth.This fact is applicable to Mumbra, a locality in Thane, where slow growth of social infrastructure is adversely affecting the growth of the real estate market. While neighboring localities like Kalwa and Shilphata are enjoying a surge in housing rates and rentals, the real estate market in Mumbra is lagging behind due to poor infrastructure.Infrastructure problems faced by residents of MumbraThe biggest factor impeding the growth of real estate in Mumbra is the poor network of roads in the city. The city has a network of poorly conceived and haphazard roads that are mostly single-lane, which causes traffic jams and congestion during rush hours. While the underdeveloped road system in itself is a huge problem, the drainage system in Mumbra is also not sufficient and waterlogging during heavy rains is a frequent problem. On top of that, electricity supply in the city is irregular and power cuts are quite common – load shedding of two hours is a normal occurrence in Mumbra.This lack of infrastructure is the by-product of a political dispute between two development authorities – the Thane Municipal Corporation and the Kalyan Dombivli Municipal Corporation. Because of this, the development of infrastructure has virtually stalled in the city, and until this dispute is solved, real estate prices in Mumbra will remain well below the level of its neighboring localities.How can the Mumbra real estate market be revived?Although the present is bleak for the Mumbra real estate market, the future needn’t be, if the authorities can settle their disputes. The growth of the manufacturing industry in Mumbra provides a great opportunity for developers to provide affordable flats in Mumbra (1 BHK) for low income groups. Moreover, Mumbra is well connected by road to all adjacent regions which will also support growth. The upcoming Navi Mumbai International Airport will also have a huge positive impact on the growth of housing in Mumbra. Mumbra also rates well when it comes to the presence of healthcare and educational institutions.If Mumbra can overcome its infrastructure woes, there is no doubt that the locality will see exceptional development in the future.
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