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Fadnavis challenges builders on Mumbai's rising housing prices.

Fadnavis challenges builders on Mumbai's rising housing prices.

Maharashtra Chief Minister Devendra Fadnavis criticised Mumbai's builders for the continued rise in housing prices despite government concessions like reduced premiums. At a CREDAI-MCHI meeting, he pointed out that all government efforts, including building infrastructure like the Coastal Road and Atal Setu, have failed to make housing affordable. Fadnavis urged builders to invest in "Third Mumbai" and "Fourth Mumbai," being developed near the Atal Setu and Vadhavan Port, respectively, to create new affordable housing stock. He envisions "Third Mumbai" as an edutech and innovation hub with foreign universities and data centres. Additionally, Fadnavis called for faster slum redevelopment using new technology to achieve a slum-free Mumbai, emphasising the need for quicker project completion to address the city’s housing shortage.