Mumbai's Boom Turns Renters Into Millionaires - Businessweek
Mea Kadwani, 78, has lived in the same apartment in the Mukund Mansion in Mumbai since he was a toddler. Thanks to rent control laws, he paid less than $20 a month for decades, and $23 a month recently, for a 2,600-square-foot space in the upscale Nepean Sea Road neighborhood, where rents typically top $2,000 a month. Now he’s moving on: After three years of negotiations, he and his wife pocketed $2.5 million from Orbit, a real estate developer planning to turn the building into a garage for residents of its 29-story Villa Orb tower under construction next door.
So here you have a socialist rent control give away, leading to republican , land monopoly give aways. A huge victory for both sides on doing nothing. The lefty freebie and the rightly freebie.
What was produced? nothing.
The best that both sides have to offer:
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