Saturday, June 22, 2024

Lawyer’s Post On High Prices Of Rented Flats In Mumbai

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Mumbai is a major economic centre in India and attracts a large number of people for work and business

Needless to say, housing in Mumbai is extremely expensive, and finding a decent place to rent or buy can be a real headache. Mumbai tops among the most expensive cities in India for accommodation rentals, with prices going through the roof. Recently, an X user shared a post talking about the high prices of rented flats in Mumbai and advised fellow users to reconsider their living arrangements. 

The user, who goes by the name Vita on X, and identifies as a lawyer, wrote how rent for a month for a 1 BHK at peak locations in Mumbai may range between Rs 50,000 to 70,000. She then suggested people to stay with their families and avoid moving out of their houses to enjoy independent living. 

”1 Bhk 50-70 hazar ka mil raha hai Mumbai mein maa baap se bana ke rakho bhai koi zarurat nahi hai independent hone ke liye ghar se bhaagne ki (One can get 1 BHK for Rs. 50-70,00 in Mumbai. Be on good terms with your mom and dad, no need to rush out of your house to be independent),” she wrote on X. 

Here’s the tweet:

Since being posted, the tweet has gone viral, triggering a debate. While some found her post relatable and narrated similar struggles, others suggested a few localities where the flats were said to be available at a lesser price. One user wrote, ”True, inflation is outpacing the salaries at a very fast speed. Getting a house, good healthcare & quality education without a big burden of loan seems like an impossible dream to many.”

Another commented, ”My favourite part of this tweet is people trying to suggest cheaper locations to you.”

A third said, ”TBH, 50-70k 1bhk shouldn’t be the only reason for living with mom and dad.”

A fourth stated, ”Is this 70k rent or EMI? Wouldn’t surprise me if it was either. My friend is paying ₹ 1 lakh rent for a 3BHK at Andheri.” A fifth added, ”The only reason I wanna move out of this city. That commute is way too much and I can’t afford this rent on my own.”

A sixth said, ”Mumbai is nearing 1/2 New York rates at 1/20th per capita income of New York. Businesses need to actively look to set up near Thane, Navi Mumbai etc.” Yet another added, ”My whole strategy for saving money is this only.”

Mumbai is a major economic centre in India and attracts a large number of people for work and business, leading to a high demand for housing. This leads to increased competition for rental properties and, as a result, higher rental prices.

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