Navigating the Challenges of Selling an Old Flat in Mumbai's Real Estate Market
A Reddit user's struggle to sell a 2BHK in a 30-year-old building in Andheri, Mumbai, highlights the growing reluctance among buyers to invest in aging properties.
Mumbai Real EstateOld BuildingsProperty SaleAndheriRedevelopmentReal Estate NewsJun 03, 2025
Despite using both online platforms and offline channels, the flat has remained unsold, highlighting a growing reluctance among buyers to invest in older properties. The Reddit post reads, “We have been trying to sell our 2BHK flat in an old (~30-year-old) building in Andheri East, and it’s been an absolute nightmare. We have paid and registered on almost every major platform you can think of. All of them promised dedicated support, sales assistance, etc. We even approached a local broker, thinking a real person on the ground might help, but no luck.”
The homeowner further expressed their frustration, stating, “We’re not even being unrealistic. We’re willing to sell well below the market rate just to get it off our hands. But it’s like the flat doesn’t even exist. What are we doing wrong? Is this normal in Mumbai right now?” The post also questions whether flats in older buildings have lost all value in today’s market. “Do people just not want to invest in older properties anymore, with new towers constantly coming up offering shiny amenities? What happens to the lakhs of us who still own flats in these older buildings?”
Another Reddit user echoed similar concerns, stating that their family is facing the same issue. “We have a flat in a 35-year-old building. Ten years ago, we were getting a very good amount for it, but we did not sell in hopes of redevelopment. Now, we are ready to let it go for half that amount, but we are not getting any buyers.”
According to real estate consultants, selling apartments in old buildings isn’t always difficult, but it depends on several factors such as a clear legal title, proper approvals, and the location’s potential. Take the example of Shiv Sagar Society, an old building on Worli Sea Face, which struck a rare and lucrative deal when Uday Kotak, founder of Kotak Mahindra Bank, purchased the entire building for over ₹400 crore. The property is located right next to land already owned by Kotak, making it a strategic acquisition. However, local brokers point out that not all homeowners are as fortunate.
“There have been instances where old buildings fetched high per sq ft rates, but that’s largely due to prime location,” said Ritesh Mehta, senior director and head (North and West), Residential Services and Developer Initiatives at JLL India. “In other areas, what matters most is the legal clarity of the building. If the title is clean and approvals are in place, a buyer may still show interest, often with redevelopment potential in mind. But if the title itself is unclear, selling becomes extremely difficult. That said, we never say it’s impossible.”
Meanwhile, industry estimates suggest that over 25,000 old buildings in the Mumbai Metropolitan Region (MMR) are currently eligible for redevelopment. This presents both challenges and opportunities for homeowners and investors in the real estate market. The key to success lies in understanding the market dynamics, ensuring legal clarity, and leveraging the right channels to attract potential buyers.
Frequently Asked Questions
Why is it difficult to sell flats in old buildings in Mumbai?
Selling flats in old buildings can be challenging due to factors such as unclear legal titles, lack of proper approvals, and the preference for newer, more modern properties. Location and redevelopment potential also play significant roles.
What factors can help in selling an old flat?
A clear legal title, proper approvals, and a prime location can significantly improve the chances of selling an old flat. Additionally, highlighting redevelopment potential can attract buyers.
What is the current state of the Mumbai real estate market?
The Mumbai real estate market is dynamic, with a growing preference for new, modern properties. However, old buildings with clear titles and prime locations can still fetch good prices, especially if they have redevelopment potential.
How can homeowners increase the value of their old flats?
Homeowners can increase the value of their old flats by ensuring a clear legal title, obtaining necessary approvals, and highlighting any redevelopment potential. Renovations and maintenance can also enhance the property's appeal.
What role do online platforms play in selling old flats?
Online platforms can be useful tools for marketing old flats, but they are not a guarantee of success. Homeowners should also consider offline channels and local brokers to reach a broader audience of potential buyers.
Related News Articles
Juvenile Porsche Driver's Parents Held for Evidence Tampering in Fatal Crash
Pune court remands real estate tycoon and father in judicial custody over kidnapping case amidst allegations of evidence tampering in the Kalyani Nagar Porsche crash
Scorpio Daily Horoscope for October 12, 2024: Attractive Real Estate Deals Await
Discover how to make today an auspicious day by keeping an eye on the real estate market. Opportunities for great deals and investments are just around the corner.
Mumbai Property Market Surges During Navratri 2024
Discover how Mumbai's property market experiences a boom during Navratri 2024. Learn about the surge in property registrations, real estate trends, and the impact of reduced stamp duty.
Nilesh Abhang: A Remarkable Journey of Overcoming Guillain-Barré Syndrome in Pune
Guillain-Barré syndrome (GBS) is a rare neurological disorder that can cause muscle weakness and, in severe cases, paralysis. Despite the challenges, Nilesh Abhang from Pune has overcome GBS and is an inspiring example of resilience and determination.
Ares Commercial Real Estate CFO Sells $22,839 in Stock
Ares Commercial Real Estate Corp's CFO has recently made a significant stock sale, raising questions about the company's financial strategies and future outlook. Meanwhile, the company has also revised its financial agreements with Citibank, as reported i
Real Estate Firms Acquire 6,000 Acres of Land for Rs 90,000 Crore to Develop Projects
Real estate companies have made significant land acquisitions over the past few years, buying nearly 6,000 acres of land for Rs 90,000 crore to develop residential and commercial projects. This move is expected to boost the urban real estate market.