For many budding owners in Mumbai, the purchase of a house is more than a simple financial investment – it is a test of patience, perseverance and, in some cases, survival. A recent Reddit article of a user house hunt in Andheri West highlights the harsh realities of the Mumbai real estate market, where exorbitant prices, legal risks and redevelopment uncertainties make ownership.
The Redditor continues to weigh its options – a BHK in Mumbai or a large house in the United States?
According to the Redditor, most 1BHK apartments in Andheri West are at around 1.8 sterling books ($ 216,000). However, 95% of these properties are planned for redevelopment, which means that buyers may buy houses that could be demolished in the years to come. Adding to the stress, the user claims to have narrowly escaped the victim of the title fraud – a major concern in the real estate sector of India, where the unclear ownership titles and the legal disputes can transform an investment into a nightmare.
“The whole experience was depressing and demotivating,” wrote the user, echoing the frustration of many buyers for the first time in Mumbai.
For the same price, underlines the user, he could buy a spacious house in a small American town. However, although the initial cost can be similar, long -term spending in the United States – such as land taxes and high maintenance costs – pose a different financial challenge.
“The only problem is that, although the initial cost is the same, land taxes and general maintenance are extremely expensive,” noted the user. This dilemma is particularly difficult for those who do not have stable income abroad, as employment insecurity in the United States can quickly exhaust savings despite a better quality of life.
Given these challenges, the Redditor wonders if rental is the best option in Mumbai.
“Is it logical to rent forever? At least, if things don’t work, you can get up and leave, and the risk is quite low,” they ask them.
The feeling reflects an increasing trend in Indian metros where the increase in real estate prices, uncertain yields and liquidity problems make long -term rental a more attractive alternative.
The position has resonated with many co-feeders saying that a city of level 1 or 2 can offer a better experience and a better state of life than Mumbai. “Level 2 and 3 cities are much better and more livable than level 1. You should consider them as options. You can build your own house in this budget in a secure campus company in suburban areas in a 2/3 city.
“Unless you are stuck in a job in Mumbai, why are you hunting at home? Go to Singapore, a 550 piv shoe box apartment.
Although ownership access remains a long -term financial objective for many Indians, the challenges of Mumbai housing push more people for rental as a long -term viable solution.
