Things NO ONE Tells You About Owning a Flat in Mumbai 

MUMBAI FLAT BUYING GUIDE: bit.ly/3Gl9gtv

Work in Mumbai , stay on rent and retire early and move to a tier 2 or tier 3 city ..today all across India healthcare and other facilities has improved

Steps to buy a house in Mumbai.. 1) sell ur house. 2) sell all ur gold & other assets if any.. 3) sell ur neighbours house if required.. Maybe after all this u can afford a 1bhk😂

I work in mumbai, but i will never buy a home even if i make millions. I will prefer living in rent. REASON :- in 2cr in mumbai , you can get a average 2bhk flat. The same 2cr can get me big bunglow with 5 bedrooms,2halls,2kitchens a swiming pool & a big garden in my hometown city in gujarat. If i have money i will buy properties in small cities & give them for rent that can easily cover my all living expenses in mumbai including rent....

Primary reasons for absurd pricing of indian real estate 1. Land owners expecting huge premium 2. Builders expecting triple margins 3. Corruption to get municipal approvals 4. Local goons asking commission to allow work in their area 5. State and central government taxes for doing nothing for this transaction 6. Black money holders who want to park their illegal money 7. Customers who are not willing to understand difference between apartment and house on own land where apartments are ideally cheapest way of housing but benefits are reaped by real estate system instead of customers who are living with adjustments and sharing. 8. Emotional middle class buyers who are ready to pay 15-20 years of salary in advance with loan, where rest of the world (excluding few places like New York,London,Hong Kong etc) is paying 3-5 years of salary for housing. 9. Family/Society pressure on younger generations to buy house anyhow 10. Assumption of the customers that they cannot do anything but to accept this ridiculous system

Tip: In Maharashtra No "Non-Encumbrance" Certificate is issued by Sub Registrar Offices. Instead search Index II of the property, in that way you would know which transactions have happened over the property.

We stay in a tier 2 city. We built our own house, 4b2h2k and 2 seperate bathroms... Our house is 1700 sq.foot. and it took approximately 25 lakhs to built. The land was our own so no problem in that... And the view is also good as there is no other congested houses around.

There is a saying in Mumbai: _"If you were born in Mumbai, it is not your fault."_ _"But if you die in Mumbai, it is your fault."_

I recently bought a flat for my parents in Mulund for 1.75 cr. I had purchased a flat in 2002 in Andheri for 20 lacs! ! 😮

Most people in Mumbai, dont know how to settle outside mumbai as most of them lack the insight of how to make money to save and invest and retire rich. the only thing they know is real estate and some insurance policy like LIC. i know lots of my friends and some relatives of mumbai, who has just 1 or 2 flats around 400 sqr feet and they brag about its value. I like in a 4 Bedroom Duplex house of around 1650 Sqr feet which is now worth 1.35 crores in the outskirts of mysuru and i dont brag about its value.

Better buy a land outside pune or Thane and built a house for less than 70 Lakhs. One of my relative bought a land of around 3650 Sqr Ft and had build a house with a total cost of 65 Lakhs.

Wow, very well explained video specially by the owners of the house- crisp and structurally explained. Thanks

For the first 3-5 years of living in a house, use interior decoration, NOT interior designing. Decoration is FAR CHEAPER and you will learn your likes and dislikes over 3-5 years. If you spend too much, like 20% of house price as suggested by this video, you will be stuck with it (unless you want to spend even more to correct things you don't like). So the lesson is: Find what are the least mods and adds that give you happiness, just do that and then, stay happy. Invest the saved money and pay EMIs faster.

Wint wealth videos never ceases to amaze me everytime. Awesome video!!

Comprehensive information for flat buyers. Very well done

Sir, Is it really good to purchase a property of 1 cr-2 cr.... Average family earner can't afford....it's only hype by the builders....not everybody have such huge amount....By taking loan....person will pay only loan till his life....live with burden of loan....Why this hype of increasing in Prices....Builder says metro will come near property....but metro will come after 10 years....why they charge such premium price now.....some one has look into it.... Government need to take care of Average earning families....as rich are getting rich....

Mumbai is one of the worst place to live in. An average family cannot afford its rental price, and otber amenities too. Its so conjested, especially the local trains. Government should divert some companies outside of Mumbai to spread the population over a vast area instead of congesting them in a single city

Bro come here to namma Bengaluru in Karnataka no pollution all over greenery sweet people big companies most of big startup founders walking in Bengaluru Street no showoff this is Bengaluru bro

Yes I purchased 90% completed building in Andheri East, 1.5 bhk costed me 1.3 cr. Luckily I got possession in 8 months.

short and crisp video. To the point. Well made.

Mumbai prices are scary . Sometime back you couldn't imagine 1Cr for a flat .

He knows what he is doing. Which is highly important.

Such a foolish thing to buy a house in Mumbai. That 1 crore loan they took at current home loan emis will end up costing them 2.1 crores by the time their loan tenure ends. So for a 1.3 cr home, they are effectively paying 3.4 crores.

this channel feels like a goldmine of knowledge

Nicely explained. I have been to vaibhav's house and they have done tremendous work on interior and the eye catching view of powai lake is the best part of the house.

As long one has clarity , planning and support ..anything is possible. Congratulations to the couple

Rent in Cheaper Outskirts of Mumbai. Commute to Work. Save Money. Move to Tier 2/3 city later. Buy flat/house. Retire there. Peaceful life. (Provided everything else goes right)

Lodha and A grade? wow ... no way. I beg to differ. Apart from that fantastic video. Thanks for helping out with such minute details.

It’s Beautifully explained by MrVaibhav n Poonam..!,

I have seen your property buying videos for Bengaluru and Mumbai. Kindly make for Kolkata too. Would be very helpful

Housing and land prices are high in India due to absence of anti hoarding law ..which says all unused land and flats will be taxed 1% of there market price.... owners will have to pay 1% of market price of the property as tax ...it is already there in USA that is why property is much affordable there.....30% of Mumbai land has been hoarded by a single family....keep watching cricket and movies and government will take everything..🤣

Same thing is happening in pune as well

Cost of stam duty ,bank intrest,and furniture will not be considered for sale after 10 year.minimum 50 to 60 lakh.and keep in mind home is depriciating asset compare to inflation as property prices are at peak or overvalued

Buying a flat is not a investment and also buying a flat via home loan is really a bad idea, because flats value gets depreciated over the years. People in mumbai buy flats just for the sea view or for a trendy life style, which is kind of weird as there is nothing other than a sea shore view, also the maintenance gets higher over the years. The roads are pot hole filled and during rainy season there is waterlogging all around mumbai. Many professionals pay high rent as they are well aware that owning a flat is over expensive and renting is an easier option if the income is higher. Most flat owners in Mumbai are wealthy business owners or they acquire dwealth through family inheritance, who buy flats using ready paymant to avoid paying high income tax.

Content 10/10 ❤ always

Great video, succinct yet holistic 👌

thanks for this vedio, need more like that

Only people watching this video who can not afford or dare to dream buy a house from colaba to borivali with even monthly salary of Rs. 1 Lac.. Love what you have and keep working hard.. Job will not take you anywhere... Only IDEA can..

Mumbai mai ghar lena hai toh, Pehele 10-lakh monthly kamana sikho, wohi yaha flat le sakta hai...

I still think how people live in Mumbai with that much huge cost to buy a small house. Congested traffic, less places for parks and playgrounds for kids elderly.

In Mumbai Matchbox size Flats are sold in Crores of rupees, and even construction quality also not upto the mark. Mumbai is not worth to settled in

The people who used to say "Amchi Mumbai", most of them have already left Mumbai. Now its either "Bambai" or "Bombay"

great vid as always

Your videos all unique sir . Please make hotel business based videos more . Thank you sir

Nice content guys keep it up

Very informative video

Beware. Due to global warming, Apartments and housing near seashore or near major waterways always has the situation of catastrophic coastal erosion and flooding due to excess rainfall. Here in Cochin and several coastal towns in States like Goa, Maharastra, Karnataka, Tamil nadu, Andhara, Orissa, Kolkatta, Gujarat. i have seen sea erosion first hand in cochin, Mangalore, . Also now the real estate near coastal towns is a risky buy

And people say property price and rent in Bangalore is expensive 😂😂😂 Mumbai is on another level

But the issue is brokerage charges are too high in Mumbai and Delhi NCR

recommendation for PPL not from Mumbai - don't think of settling here, it is not worth it. stay here on rent if your work demands for it. invest in outskirts/ other cities and move there once those locales develop

30% is the in hand amount that one must have before buying a house (excluding your emergency funds, savings, gold etc)

Property rates are increasing day by day that's why some middle class peoples can't afford to buy, after some years these flats rates would be very expensive maybe after 2050.

Mumbai is Mumbai❤

But Mumbai metropolitan suburbs also have cheaper & better options like Kalyan dombivali ambernath Badlapur they have better infrastructure soon they get Metros

Your videos are really good ! Informative and good production quality.. i wish you get much more subs and views soon.. bcz you deserve it :)

For My Friends who got demotivated .... "Make the decision that you will die for it, just to your Dream what it takes to be Alive for it "

Mumbai is nextlevel..no comparison

Uncle.... How about construction quality?? Are they durabale buildings, are they built on legal land and what about Earthquake resistance??

One thing I felt as soon as I landed in Mumbai, southern Indian cities are way better than Mumbai, so thought of leaving Mumbai asap!

Wint which place will be affordable to live in Mumbai for 1 days.

No doubt there is absolutely no other city like Mumbai for its livability and work opportunity. But real estate is extremely expensive. There is absolutely no control over the prices. both politicians and builders are hand in glove for the inflated prices. There is no justification of the flat value as in the materials used, location, accessibility ect. last 10 odd years the construction quality of the buildings have deteriorated dramatically. 40 year old low rise buildings still have no leakage issues but newly constructed buildings have leakage issues within 2 years. not a single red brick is used in construction. They use "Fly ash" a by product of cement industry to make bricks which has absolutely zero water absorption capacity and is so light that you can break it to pieces with your bare hands. Earlier slabs used to be atleast 2 feet thick now its not even 1 ft thick. some dont even use fly ash bricks they simply use concrete sheets. they lay it next to each other to create a wall and do not seal the edges properly. no wonder there are leakage issues during monsoons. builder like Lodha goes one step further to make POP internal walls. it cannot hold Nothing. you cannot hang your TV on the wall as the weight will have the wall collapsed !! Hence the prices are simply not justified !! secondly the so called Amenities is pure scam. not only are you charged for the "common amenities" but you are also charged an amount for its maintenance in your maintenance bills. and these amenities are hardly every used. nobody uses the gym or the swimming pool everyday. Id rather stay on low rent in a low rise bldg as long as it is close to work, easy commute and all necessities like grocery market schools and hospitals are at walking distance, has good security and 24 hours water. Id use my money to invest in mutual funds and stocks or even keep funds in high interest bank FD's than pay almost 1 lac EMI per month. When you are working you dont really need your own house. You need a house when you are over 60 or 65 and plan to retire. That is when you need to fully retire in a 3 tier city with the well earned income from your intelligent investments and buy a good big flat or a bungalow for 1/10 of the price in Mumbai and live peacefully with servants and enjoying your hobbies like travelling Gardening ect.

The point that these videos will always be about White collar job folks and not about how the prices are inflated due to giants, parking their cash!

People are cutting tree's and polututed rivers all around and after that pay thier entire saving to just to see the view of them..

Stop buying flats... Demand will decrease and rate will also decrease ... We have to Unite 💪

Bro.... I think the best safe investment is property & gold.....

Mumbai not safe water submerging in future?

Are there plans of making similar video for Bangalore

I have lived all my life in mumbai and it’s just a shit hole…

Get the required medical & life insurance etc too so those things are covered.

The infamous lake view of Mumbai..mosquitoes comes free with that view

Mumbai is over expensive and yes the survival in Mumbai will be difficult in coming years the salary of common person is surely not going to rise.. Overrated Mumbai is not having life all we do is travel 4 hrs work 8-10hrs and go home just to sleep. Mumbai is stressed the hype and rates are not justified . Dalal and builders are playing for the profit only

What would be your suggeations on builders are using Cement blocks instead red bricks in Navi Mumbai...which one is better to have perfect house

Govt policies are responsible for speculation in residential properties to support HFC and rich people. House is a necessity and loan for buying necessity is a shame on India and society. Food is also a necessity and tomorrow people may have to take loan for food !!!!!!

Why would anyone in the right mind want to buy a house in Mumbai is beyond me

Even Upgrading from 2bhk to 3 bhk is so expensive. You'd have to take atleast 50 lakhs loan which would amount to an EMI of 30k for 30 years. That's alot even for the top 2% income earners. Now imagine buying a new flat even 2bhk would require a loan of 2cr, which would equate to EMI more than 1lakh for 30 years. Even if you earn 30lpa half your income would go into emi.

Where did they buy this property? Which locality?

Mumbai totally not worth these amounts of flats, as the job/employment and standard of living in other cities is much better

i have one question can we trust on MHADA build quality ....i heard this people always have water and leakage problems

Buying a property on this highly expensive apartments will always stay as dream for me, In some places you can buy acres of land with spending just 1 crore, Can do agriculture farming if the land has good soil and underground water, That's it you can survive anytime

Just thinking.. live on rent in new house and buy new house in your home town for parents.. win win.. then later if you kids go to aboard then go back to home town and do gardening..what a life

I am waiting for crash in markets when there is high demand prices of land

Slumbay left in the 90s never looked back

Where this Flat is Sir?

People buying flats think they own a home.... 😄 haha. Intelligent guys.

Can some one explain what is 2 tier and 3 tier cities?

Mahada property is in which area

Is it GOOD TO buy a flat in Mumbai and rent it if I leave the city and go to other city if circumstances force me to. Will the flat investment will be good after 10.year? I think flats in Navi Mumbai are good

Super expensive ... would rather go for a bungalow with large garden in a b or c grade town than a 1 BHK in city like Mumbai .... anyways it's a personal choice !! My life Moto is "Collect moments .. not things" ... so not in tune with purchasing a house of that value unless I can do it with around 10-20% of my cash balance ....

Just for a apartment spending exorbitent amount by borrowing money, is not a good investment practise.

"Saving Money on Taxes" through Interest is Financial Silly to even mention - Seriously! Unless you S&P500 and arbitrage the Net Interest Gap in your lent amount on Core Asset. - House / Apartment on a leveraged compound adjustment. There is no such thing as "Tax Efficiencies"

Hey Wint Wealth nice video 👍 At 08:06 - 08:16, You have said "Even thinking of house as an investment would not make sense because the returns you get by renting or selling could be much lesser than what you would have earned by investing that money elsewhere" Q1. What are those "elsewhere", example? Q2. But some people make money from this real estate only then why you have said this? (I am just asking, dont take it as an argument)

I just don’t get it with people buying flats for crazy unjustified prices? People in tier 2 cities pulling off 3x profits in a year & half by investing the same amount.

But prices in Gurugram these days are at par with these prices

ever visited to HYD? best place to live, you will get a calss A home at same cost and 4bhk.

Carpet area?

After of the pricing have been increased by real estate guys... There alot of flats yet empty but yet they are quoting high... when they see no return they will down the price...

Basically 😊

In Mumbai 1 BHK for 1 crore is looting.

10 years to complete a tower? What the heck, is that normal? How long is construction time for a condominium tower in Mumbai?

They forgot to add the bribe amount ..😅