Mumbai realty market has Pak house-hopping

India's consulate in Karachi will have to wait till the government of Pakistan comes to grips with the erratic real estate market of one of the most expensive cities in the world, Mumbai.

According to top sources in the Ministry of External Affairs, the Pakistan foreign office has withdrawn approval for an Indian consulate in the port town of Karachi till they find suitable premises for their consulate in Mumbai.

The sources say the Pakistani foreign office has been shown at least eight properties for lease, but to no avail. "At one property on Napean Sea Road, the landlady wanted to lock and keep two rooms for herself within the consulate," the sources said.

"At another property, the landlord, along with his other tenants, flatly refused the lease as they were not willing to put up with the attendant parking problems and so on," the sources added.

The Indian government is now offering them land in Bandra, where the US government has also been offered land to build a consulate as per their own specifications. "That would be the best solution," the sources said.