Mumbai wealthiest city in India with total wealth of $820 billion, finds report

[GS Zhou]

It's unrealistically expensive for most people, which is why they tend to live far away from their work place (in the greater Bombay area), and commute vast distances on a daily basis. Property rates depend on which area of the city you're looking at, proximity to the sea, views, amenities, snob value, rail/metro connections etc.

I know the price may vary significantly by its locations, views, surroundings, etc. But any chance to give an "average" figure? For example Rs. 200,000 per m2, or 300,000 per m2? Thanks!

 

[Bombaywalla]

I know the price may vary significantly by its locations, views, surroundings, etc. But any chance to give an "average" figure? For example Rs. 200,000 per m2, or 300,000 per m2? Thanks!

For example, in my neighbourhood, which is sea facing, property prices on built up, range between INR 80,000 to INR 1,30,000 (US$1200 to US$2000) per square foot.

 

[GS Zhou]

For example, in my neighbourhood, which is sea facing, property prices on built up, range between INR 80,000 to INR 1,30,000 (US$1200 to US$2000) per square foot.

wow... that's fxxking expensive!!! almost like a robbery!

 

[Bombaywalla]

wow... that's fxxking expensive!!! almost like a robbery!

It's daylight robbery, really.

 

[AndrewJin]

For example, in my neighbourhood, which is sea facing, property prices on built up, range between INR 80,000 to INR 1,30,000 (US$1200 to US$2000) per square foot.

What's the price of an inland city? My city is 900km from the sea. I'd like to know the comparable price. Thanks

wow... that's fxxking expensive!!! almost like a robbery!

Even from Shanghai u feel it expensive? Then it's really expensive!

 

[Bombaywalla]

What's the price of an inland city? My city is 900km from the sea. I'd like to know the comparable price. Thanks

That's too broad a question, and it depends on which city, but of course, inland cities are much cheaper to buy property in.

 

[AndrewJin]

That's too broad a question, and it depends on which city, but of course, inland cities are much cheaper to buy property in.

First tier or second tier city with living standards similar or on par with Mumbay. Btw, my city has higher GDP per capita than Shanghai, but the price of our housing is only 1/4 (average).

 

[Bombaywalla]

First tier or second tier city with living standards similar or on par with Mumbay. Btw, my city has higher GDP per capita than Shanghai, but the price of our housing is only 1/4 (average).

By the way, it's Bombay or Mumbai, not Mumbay. I don't pay much attention to property rates in cities other than my own, so members from Bangalore, Madras, Pune, Hyderabad or Delhi would be better equipped to answer your question.

 

[Ola]

wow... that's fxxking expensive!!! almost like a robbery!

I own a small 2 bed room apartment (measuring 600 sq feet) in a 18 year building in Bandra West and I can sell it within a week for Rs. 3 cores, that's very a little more than half a million dollars.
Mumbai is pricey!!

 

[Bombaywalla]

I own a small 2 bed room apartment (measuring 600 sq feet) in a 18 year building in Bandra West and I can sell it within a week for Rs. 3 cores, that's very a little more than half a million dollars.
Mumbai is pricey!!

That's where all the fun is at! Good for you, mate.

p.s: nice display picture

 

[Gibbs]

For example, in my neighbourhood, which is sea facing, property prices on built up, range between INR 80,000 to INR 1,30,000 (US$1200 to US$2000) per square foot.

Dayymn!! Thats pretty steep

 

[cloud_9]

Makes sense because Mumbai's area is 1/4 of Hong Kong.

 

[SBUS-CXK]

It's unrealistically expensive for most people, which is why they tend to live far away from their work place (in the greater Bombay area), and commute vast distances on a daily basis. Property rates depend on which area of the city you're looking at, proximity to the sea, views, amenities, snob value, rail/metro connections etc.

I heard that housing prices in Mumbai are more expensive than in Shanghai
In fact, in my small county., housing prices in 3000 - 20K per square meter.(upscale district)
Young people can not afford to buy, but we can loan...

 

[takeiteasy]

Small area, large population.
1, traffic congestion problem.
2, the housing shortage.
3, slum problems.
4, the employment of the population problem.
5, the problem of illegal.

These are all true. A lot of cities are mushrooming around India, especially in the south. The dependency on Bombay, Delhi will come down (and it should be).