Flat Prices in Mumbai

delhidog

Hi All,

I may be moving to Mumbai and I am trying to get a feel for what flat rental prices will be. I am looking for a nice, one to two bedroom apartment in Colaba, or even as far up as Bandra- anywhere that is central.

Are there "ex-pat" kind of areas as there are in Delhi?

Thanks for the help.....

Tessy

Rental will be about 6K to 8K depends.

pennylessinindia

6 to 8 k what certainly not rupees!!!!

many expats in colaba and even more in Bandra prices for a good flat on your own with AC and mod cons is going to be around will be around a Lakh rupees. Many are much more than this. If you willing to share and want less mod cons you may get somethng for 15 - 30 000

nino

Residential properties are divided by grade A, B , C. Grade A buildings in prime South Bombay are priced between Rs 12,500 to Rs 40,000 per sq ft!! Prominent among these are-
cuffe parade/ NARIMAN PT - all Maker bldgs , NCPA
colaba - Sagar sangeet, joyeden, bradys, behla and buckley court, dhanraj mahal
Marine Drive - all seafacing buildings
Malabar/Napeansea- urvashi, manek, kanchanjunga, grand paradis, prithvi/pemino (in altamount) etc.
Worli- Samudra mahal and vicinity

B grade premises command less prices and are mostly in good neighbourhoods but the building's themselves are not well maintained. Prices could be as high as Rs 14000/ sq ft.

C grade are older and un maintained and the residants are economically not that well off.

Noodle

That is to buy a place, but the OP wants to rent.

israel

is there anyways we can get more acurate information??

nayan

you can try the real estate suppliments to the Mumbai newspapers. They will give you a rough idea. You can also try sites like 99acres.com and magicbricks.com. The prices will be inflated on any internet site but it will give you some idea.

TrinTrin

anyone know any real estate brokers (not somebodies cousin who wants to push one apartment) but actually a real company that has many to sell?

Nick-H

Check the internet property sites. You'll soon get the idea which advertisers are big brokers and which are small. Also google and see if you can find a local professional association.

Seems to me that everybody in india is a property broker! Our local man is also the gents' hairdresser! ...mind you, I suspect he owns the entire block of shops.

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TrinTrin

Thats what i want to avoid. I've been here a month and basically everyone has an apartment they want to show me and none of them are the right caliber.

I want to find an agency that is professional, i dont mind paying their commission.

capt_mahajan

I am afraid most brokers in Mumbai, and even India, are not professional. All you need is a phone and a table.

There are a few international brokerage houses in India now, but they tend to deal with large projects or repeat high value customers.

In Mumbai, you need to identify the locations you are looking at first.

Then you can either


-go to the property developers directly. There are a lot of big names in Mumbai. They often have new apartments for sale, and many also deal with resale of unoccupied apartments which some investor has bought from them.

-ask friends or business acquaintances about 'reliable' brokers in those localities.
Cavaet emptor applies here. The sad fact is that you cannot really trust a vast majority of the real estate brokers in Mumbai further than you can throw them
The good thing is that you dont pay anything to these guys unless you buy from them. If you have a little time to waste, you can go around with one or two during a weekend to get an idea of the market, and see some apartments.

-Look up classified ads in the newspapers. If nothing else, it will give you a feel of the market.

For somebody unfamiliar with Mumbai, I would suggest a recommended broker, and after that, I wouldn't trust him too much.
If this is too much, then a reputed builder (Raheja's or somesuch) is the way to go.

Finally, if the business you are associated with in Mumbai uses a broker, talk to him/her. It is less likely that he will try and cheat a regular customer.

Pintz

Hey! Welcome to the tribe!!! I have been hunting since a month for a decent accomodation since I'm relocating in Jan and believe me, already I am considering buying a good pair of trekking shoes! No kidding, man.... this city is crazy!!! I have seen more than 3 dozen places without success! The rents are atrocious, to say the least. I'll give you an idea:
This is for a decent 1BHK:

Colaba - 20,000 - 30,000/month
Churchgate/ Marine Lines/ Charni Road - 20,000 - 45,000/month
Kemps Corner/Worli - 40,000 - 85,000/month
Dadar/Shivaji Park - 25,000 - 50,000/month
Mahim - 20,000 - 30,000/month (but, you wouldn't want to stay here!)
Bandra/Khar - 35,000 - 60,000/month
Santacruz/ V Parle/ Andheri - 30,000 - over a lakh (because this is a hot fav. of the Bollywood stars(!))
Going further North is not advisable as it is total chaos.... Have fun hunting and yes, if you want to do it as a team, I'm ready!!!

TrinTrin

Yeah,

Are these places actually western standard. The money thankfully isn't mine, so I dont care as much about price so much as quality.

romagna67

or somebody unfamiliar with Mumbai, I would suggest a recommended broker, and after that, I wouldn't trust him too much.
If this is too much, then a reputed builder (Raheja's or somesuch) is the way to go.

Hy, do you have experience with this Raheja? Which part of Mumbay does he has apartments? Where can i find his tel. number or email? I need to find an apartment in Mumbay for end of february.

GoanCanuck

Raheja Construction is among the five largest real estate developers in India. They are not agents or brokers who can help you to rent an apartment. Of course you can buy an apartment from them but you will need plenty of $$$$$.