The stage is set. The lights are getting ready. The camera is on its way. And action is about to be announced. It is now certain that 2022-23 is going to be a difficult year for Mumbai’s real estate industry. Interest rates are on their way up, the state government has recklessly added a tax of 1 percent on house purchase, stock markets have fallen sharply hurting demand and sentiment, and upcoming supply is at outrageous levels in prime micro-markets.

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