Mumbai: The Economic Survey has raised concern about the vacant housing inventory, especially in metros such as Mumbai, Delhi, and Bengaluru. The Survey points out that despite a housing shortage, there is an inventory overhang. Mumbai tops the list with 0.48 million vacant houses.
People are very cautious about buying the new property after the confusion raised by GST and other real estate parameters. But Shwetank Srivastava, an expert real estate player has launched a new scheme of flats in Mumbai where he will provide sea view flats to residents. But there is a twist here. The flats will not be sea view ones actually, but the builder will provide cab on a daily basis free of cost to travel to marine drive, watch the sea and come back.
Finding a sea view flat in space-crunched Mumbai is too difficult. So Shwetank had to come up with something innovative. And technically, the service provided by him would count under the sea view flat category. Even the BMC is happy with the initiative taken by Shwetank as due to the service provided by him, more people will be willing to buy property at far off locations and visit Mumbai to have a look at the sea. This would lessen the burden on residential property in the heart of Mumbai. Also, it will provide economic opportunities to cab service providers.
The flats will obviously by premium priced and getting a sea view daily in Mumbai does come with a cost involved. More builders have started following Shwetank’s example but Shwetank will still get the first mover advantage and has started advance booking for the new range of housing property.