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Mumbai: New lease policy will worsen real estate slump: builders

Posted on 10 October 2012

The hike in lease rates, announced in the new leasehold policy, will affect the monthly rents that tenants who occupy old buildings pay. The policy will also further drag down the real estate market, builders said.
“We will have to pass on the burden to tenants,” said BR Bhattad, executive president, Property Owners Association. “Any increase will have to be borne by tenants as we are just recovery agents.”……………………………………….Full Article: Source


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