Home buyers turn cautious after the recent fatal illegal building collapse

The demand for real estate in Mumbai is soaring and there is simply no denying the fact that the masses from all over the country are moving into the city of dreams to live, work and prosper. Taking advantage of the exodus, are a bunch of developers who begin building residential apartments without prior permissions and proper inspection by government authorities. This obviously pulls down prices and attracts people moving into the city and those looking for an inexpensive place to live. However, life isn’t a bed of roses for the residents of buildings as such given the fact that more often than not, these illegal constructions use lower grade building materials, making them a life-hazard to those residing in them.

Mumbai Building Collapse

The recent building collapse in Mumbai killing nearly 70 people has brought the dangers of living in illegal constructions to everyone’s realization. As a precautionary method, the civic bodies of Thane, Navi Mumbai and Mumbai rallied under a banner together and started off a drive to spot more dilapidated and illegal constructions across the city. According to the report, “It is difficult to ascertain visually the deterioration or distress of building structure.”

The report was carried out by the Comptroller and Auditor General (CAG) and went on to state, “It is difficult to measure the efficacy of survey methodology adopted by the board. The fact that 37 people died and injury to 39 persons between 2008 and 2011 due to collapse of seven buildings, even after a survey by the board, is a pointer to the inadequacies in the existing survey system.”

Real estate sales in Mumbai haven’t really taken a hit however with the news of illegal structures pouring out. Instead, those investing in real estate in Mumbai have become slightly more cautious while making their purchases and have begun seeking for more legally appropriate homes.