Maha govt admits rise in housing units' cost in Mumbai due to taxes
Mumbai, July 4 (UNI) The Maharashtra government has acknowledged that taxes and fees imposed by it and local bodies significantly contribute to the rising cost of housing units in Mumbai and other cities of the state.
Responding to a written question in the Assembly about the nearly 30% gap between construction costs and the final sale prices of housing units — often leading to hefty builder profits -- Deputy Chief Minister Eknath Shinde, who also heads the housing and urban development departments, stated that the prices of residential flats in Mumbai and other cities continue to rise partly due to these levies.
Shinde provided a detailed explanation and noted that in addition to the rising prices of key construction materials like cement, steel, bricks, and sand, several statutory costs were also pushing up prices.
These include the GST, a cess for construction labourer welfare, royalty charges, insurance, and the increased premiums levied by local civic bodies.
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