According to the current market situation, what would be preferable: buying or renting a flat in Mumbai?
Answered on November 08, 2017
This is a very subjective question. Does the buyer intend to stay in Mumbai and make it his home or is from outside the city for a couple of years. There is room in the city for the prices to escalate even further, especially because we are a developing economy. GDP of the country is still in the growth mode, maximum of the population is in under the age of 25. FSI in mumbai ranges from 0.5-4 depending upon the type of construction/zone/redevelopment scheme unlike foregin counterparts, where it can even go to as high as 20. This further restricts supply. All these are reasons for the price to rise further. Mumbai pricing is still cheaper than the developer counterparts such as London, Hongkong etc where GDP is now flat. Plus mumbai is an island city, where the supply is at one point going to be limited, unlike other cities, where they can easily be expanded. Hence if one intends to stay here, buying is a good option.
