Outrageous Rs 45,000 Monthly Rent for a 1BHK Chawl in Mumbai Sparks Debate Online
A viral Instagram reel showcases a 450 sqft 1BHK flat in Mumbai's Matunga, described as having 'old vibes', with a staggering monthly rent of Rs 45,000, sparking debate among netizens.
Mumbai Real EstateAffordable HousingMatungaChawlRentReal Estate MumbaiOct 04, 2024
The flat, which is barely decent, comes with a small bedroom, tiny kitchen, a small staircase that leads to a loft, and an okayish living room. The accommodation also includes a parking space, which is a rare commodity in Mumbai.
Many netizens have taken to social media to express their outrage over the pricing, with some joking that the rent should be at least Rs 10 lakhs per month, along with an indoor swimming pool. Others have remarked that the flat is giving them claustrophobia, while some have questioned whether the listed pricing is for Matunga or Manhattan.
The reel has also sparked a debate about the state of affordable housing in Mumbai, with many lamenting that their salaries do not even match the rental. Some have also made fun of the 'Vocable Distance' mentioned in the caption of the reel, while others have suggested replacing 'old vibe' with a more nifty term, 'vintage', to garner more views and surge the pricing.
The incident has once again highlighted the issue of affordable housing in Mumbai, where many residents are forced to shell out exorbitant amounts for tiny, cramped spaces.
Frequently Asked Questions
What is the monthly rent for the 1BHK flat in Matunga?
Rs 45,000
What is the size of the flat?
450 square feet
What is the location of the flat?
Matunga, Mumbai
What is the condition of the flat?
Barely decent, with a small bedroom, tiny kitchen, and okayish living room
What is the reaction of netizens to the pricing?
Outrage and debate, with many questioning the exorbitant pricing
Related News Articles
Union Budget 2025: Understanding Capital Gains Tax on Real Estate and Stocks
In the Union Budget 2025, the government has introduced significant changes to the capital gains tax structure. Whether you are a real estate investor or a stock market enthusiast, understanding the new tax rates and implications is crucial. This article
Developers Seek Incentives in Mumbai's New Housing Policy
The latest housing policy, drafted in October 2024, aims to address the critical needs of affordable housing, slum-free cities, and rental housing. Developers are demanding incentives to support these ambitious goals.
Maharashtra Govt Announces ₹50 Lakh Aid for Families of 4 Teachers Who Died During COVID-19
The Maharashtra government has announced a condolence assistance of ₹50 lakh each to the families of four educators who lost their lives while performing COVID-19 duties.
Shriram Properties to Collaborate on Six Acre Land Development in Pune
Shriram Properties, a prominent real estate developer, has announced a joint venture to develop a six-acre land parcel in Pune. The project, expected to launch in the second half of FY25, holds an aggregate revenue potential of approximately Rs 700-750 cr
Mumbai's Property Registrations Plunge 14% in September 2024
Knight Frank, a renowned global real estate consultancy, reports a significant drop in property registrations in Mumbai during September 2024, influenced by the cultural significance of the Shraadh period.
Oyo Acquires US Budget Hotel Brands from Blackstone in $525 Million Deal
Oyo acquires G6 Hospitality, including Motel 6 and Studio 6 brands, to boost its US and Canada presence.