NDTV | 15th July 2022
Mumbai is India’s most expensive real estate market where land is a scarce commodity. So, how do we unlock Mumbai potential? India Sotheby’s International Realty highlighted the issue of leasehold property on Collector’s Land in prime areas of Mumbai like Churchgate, Nariman Point, Wadala, Bandara and Chembur, where the state levied charges for conversion of leasehold property to freehold is a whopping 60 per cent. We discuss the pressing need to bring down conversion charges and other recommendations of the white paper – ‘Why Leasehold Property is shackling Mumbai’s Real Estate Potential?’ with Rajesh Narain Gupta, Managing Partner, SNG & Partners; Samir Saran, Managing Partner, India Sotheby’s International Realty; Dhaval Ajmera, Director, Ajmera Realty & Infra.