Mumbai, The Dying Financial Capital of India


Black Money, Currency Ban, Demonetisation, Note Ban, PM Modi, Corruption, Real Estate, India, Mumbai, Property Prices, Falling Prices

Today was a usual rainy day in Mumbai, but what was unusual about it, was the never ending traffic in non-traffic hours. To reach from one place to another in Mumbai city it takes forever and a lot inconvenience. I had to cancel 4 different appointments today owing to this, imagine the kind of work loss and luckily they were all business meetings and property previews.
What Mumbai lacks today and which all stake holders be it the BMC, State Government, Mhada, MMRDA or any other body responsible, must have a very careful thought on:

1. Why do we not have an Intelligent Traffic Management system?

2. Better Roads, one of the major reasons for the traffic snarls is bad roads, pot holes, which further slowdown the traffic. We have achieved independence since 1947, we still cant make roads in Mumbai, can any authority take charge or hand over to the private sector, many Top Corporates will be willing to take care of these. I feel we have the expertise, the BMC has thousands of Crores stacked away in Fixed Deposits earning huge amount of money, but we have to succumb to death in the pot holed ridden city. Its high time, the state government and the BMC and the ruling parties do something about it, and rather than passing the buck and speaking about corrupt contractors.

3. Bridges and better planning – There are so many flyovers which can be still made and save a lot of inconvenience. Why there is no planning done, to make them, why it takes 10 years to make one stretch of roads.

4. Metro – With Metro works started in a few locations in Suburbs, the next 5 to 10 years is going to be living hell in a lot of locations and this is going to be bad for real estate sector. Suburban Mumbai is already reeling under the pressure of population explosion.

5. New DP Plans of Mumbai should make way for more roads and more common areas. A comprehensive plan must come out for Slum Rehab and a distributed Slum Rehab to stop ghettoisation of similar people living in the same neighbourhood, which are essentially people who need to go out of jobs perhaps at the same time.

6. The Coastal Roads have been spoken about for 4 years now and not a single meter work has started. The Government seems to be announcing projects on the table and please the vote bank or the public, in my opinion Supreme Courts should ban the Government for making any announcement for infrastructure Projects. They should be only allowed to announce after they get a Financial Closure, Legal approvals, Environmental Clearance and Land Acquisition, prior to that No Ruling Government should be allowed to make any announcement.

7. Government to move out Key Establishments and have variable shifts in the office, so people don’t have to rush out and do things at one go.

8. Better public transport, so people should be encouraged to take more public transport.

9. Exploration of water ways to decongest the city, we have 3 sides water, each and every other city of the world has sea on one or two sides and the water ways are explored, creative ways and means are applied.

All these things, we all know, we hear them every day, we think about them and each one of you reading this is impacted, effected and only wish that things could be a little better.
We are one of the best liberal and easy going and lovely city, we need to do all do something for Mumbai, else the spirit of the city will die…

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