"A little bit more than 40% of the square meters [built in the city] were devoted to parking...30% of the budget of the real estate industry is being transferred to parking"https://twitter.com/PaulABarter/status/1065765334328569856 …
So then what do you think is the problem here? That the powers that be like restricting supply to keep their high story property values high?
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The density restrictions were put in place in an attempt to curb population growth in South Mumbai as well as to encourage redevelopment of existing dilapidated buildings (you got a substantial density bonus for redeveloping a dilapidated building).
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The policy was a mess because it didn't curb the growth of slums, and it created an incentive structure for landlords to let their buildings deteriorate to the point of almost collapsing in order to get that density bonus.
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