This is Episode 11 of The Seen and the Unseen, the weekly podcast hosted by our editor,  Amit Varma.

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Mumbai is one of the most expensive cities in the world, and one of the reasons is that there is too little land and too much sky. Alex Tabarrok joins Amit Varma to discuss Mumbai’s insanely low Floor Space Index (FSI), a key reason why real estate here is at such a premium.

Also read‘Let Indian Cities Grow Tall’, Pavan Srinath’s Reforms 2.0 piece on the same subject.