Housing in Mumbai
What’s that like? I seen a couple of videos and heard from people who visited, it’s a good seaside city, the pollution isn’t crazy like Shanghai yet.
I plan to visit sometime either during this year Christmas or early next year.
But what I’m wondering is, what’s the apartment prices like? Compare it to Vancouver?
It depends upon where in the city you’d like to stay, and what you’re looking for. If you like having a wide selection of restaurants, clubs, and bars, in your neighbourhood, I suggest you check out Bandra (West), though most other neighbourhoods have their fair share of entertainments hop spots as well. Neighbourhoods south of Mahim fall under the ‘island city’ limit, and tend to be more expensive. That said, like anywhere else in the world, apartments/houses in Bombay that are proximal to the sea/have an uninterrupted sea view, are a lot more expensive than places further inland. Are you looking to buy or rent? Rentals vary from anywhere between INR 40,000 to 4,00,000 for one/two bedroom apartments in a nice area. If you’re staying long, rent, if not, I suggest you check yourself into one of the many fine hotels on offer.
Buying only for Indians & NRIs…rest Can’t. Only RENTAL.
damn you are right. But then again, I do intend on staying in India for about a year, the question is can I keep my place once I leave and only comes back once or twice every few years.
What about if I incorporate a company and just place my property under that.
I do plan on staying for a year, mostly work and travel, for fun. More for fun than work, though that is a part of it. I want to buy a place, because I heard Mumbai is good, and that the prices are always rising, so that if I buy one when I get there and sell it a couple years later, I may get a free trip out of it plus cash to spare with the difference in price.
What kind of work you do? I want to do that!!
1. If you are going to work in Mumbai, pick a place near your place of work. If you are able to tell the location of your potential office, can recommend good areas.
2. You can buy property in India through a company, if the project office branch has been approved by the RBI. But, since your are from China, Chinese nationals require special permission from the RBI for purchase of immovable property.
3. The purchase price of a 1,000 sq ft house can vary from USD 250,000 in the distant suburbs to USD 500,000 to USD 1 MN in Central Mumbai to the sky in South Mumbai.
In a nutshell. High. REALLY HIGH.