Mumbai's urban housing tensions have escalated as a major workers’ union opposes the proposal to lease 35 officer quarters on Altamount Road to private entities. The union argues that this move threatens employee welfare and long-term housing security in one of the city's most expensive real estate markets.
MumbaiReal EstateUnionAffordable HousingPublic TransportReal Estate MumbaiAug 09, 2025
The main concern of the union is that leasing the officer quarters on Altamount Road to private entities would undermine employee welfare and threaten the long-term housing security of the workforce.
The proposed lease value for the 35 officer quarters is over ₹260 crore, with a 30-year lease period and an option to extend for another three decades.
The union fears that introducing private residents could erode community bonds and lead to the gradual displacement of employees into less affordable neighborhoods.
The transport utility is considering this leasing plan as part of a broader effort to monetise high-value real estate assets in response to mounting operational losses.
The proposal reflects a growing trend in urban governance where public assets are leveraged to fund service delivery, often prioritising short-term revenue generation.
As Mumbai continues to grow
Mumbai's prime residential prices surge 11.5% year-on-year, ranking third globally, as India's economic growth drives demand in luxury housing market.
The latest data from JLL India reveals a 21% decline in affordable housing supply below Rs 50 lakh, while premium projects saw a significant surge in demand.
Priyanka Chopra Jonas is a keen investor in the real estate space, owning multiple properties in India and the US. Here's a look at her recent transactions.
Uber has partnered with Heads Up for Tails to offer pet-friendly rides in Delhi and Mumbai, making travel more convenient and comfortable for pet owners.
A real estate investment trust (REIT) backed by asset manager Blackstone Group and Bengaluru developer Sattva Group has filed its draft papers with the Securities and Exchange Board of India (SEBI) for a ₹7000 crore initial public offering (IPO).