With property rates hitting the stratosphere, the affluent South Mumbai area has likely witnessed a decline in residential population, while the suburbs have had a rise, according to Census officials. And ironically, the population of homeless people in southern part of the metropolis seems to have increased.
With property rates hitting the stratosphere, the affluent South Mumbai area has likely witnessed a decline in residential population, while the suburbs have had a rise, according to Census officials. And ironically, the population of homeless people in southern part of the metropolis seems to have increased.
ADVERTISEMENT
"It has been observed that primarily due to rising property rates, the residential population in South Mumbai has gown down. Whereas the residential population in suburbs has seen an increase of about 10-15 per cent," Census officials said on the condition of anonymity.
South Mumbai -- which has upmarket residential colonies as well as important public buildings such as secretariat, Vidhan Bhavan, High Court, etc -- is fast turning into a commercial hub, officials said.
"The residential population in Mumbai Metropolitan Region (MMR) areas such as Vasai, Virar, Palghar, Kalyan, Dombivli and Karjat, has also increased."
The real estate market in Mumbai continues to remain stagnant as sale transactions are at an all-time low due to the high prices and rising interest rates. The homeless population has likely increased from the earlier 25,000 to 35,000-40,000, officials said, adding that such people were seen more in A, B and C wards. All the three wards fall in South Mumbai.
Subscribe today by clicking the link and stay updated with the latest news!" Click here!
