Developers say it is difficult to sell or rent apartments that are located in flood-prone areas.
The Brihanmumbai Municipal Corporation (BMC), the civic body in charge of the country’s financial capital that is the richest such entity in India, has gone on record saying that flooding in Mumbai is inevitable if there is excess rainfall or if there is heavy rainfall in a shorter span. Given that this is an almost normal annual event now, and with the monsoon having officially made its onset in the metropolis, the focus is back on the city’s real estate, which is one of the biggest casualties of excess rain and waterlogging.
Source – Money Control
