Exploring the rental market, A guide for flats for rent in Mumbai, Online property style guide

Exploring the Rental Market: A Guide for Flats for Rent in Mumbai

31 July 2023

Why renting? Why not buy the property that you like and are eyeing? A ton of individuals, especially urban millennials, prefer renting instead of buying because they think it provides them with more mobility to move from one place to another, offers flexibility in their choices and options to spend money, is economically viable for them, and provides them with their own financial prowess.

Exploring the Rental Market in Mumbai

To underline a few statistics, there are 64 % of Indians residing in metropolitan cities who opt for the ease of renting, and the largest group accepting these renting services are people in the age range of 25–35. The next largest group were students aged 18–25. The rest of 36% still assumes that buying a house is a feasible option to build more personal security in the long run.

While talking about a country like India, where each state, each region, and each locale has a different system as compared to another, it becomes difficult for tenants to decide which place they should opt for for their tenancy. Tier 2 or Tier 3 cities offer maximum flexibility when it comes to rent prices, but when we are talking about finding a  flat for rent in Mumbai, a metropolitan city that has witnessed its own share of ups and downs and has been a prominent part of our history, the city is quite luxuriant and price as compared to other metropolitan cities around the country. But in every nook and cranny, you have alternatives and options that you can choose from. In today’s conversation, we are going to delve deeper into those options and talk about each niche choice we can pick from while finding flats for rent in Mumbai.

Redevelopment Projects:

Mumbai has housed a bazillion chawls since the 1970s or even before that. Chawls are multi-story buildings with small and cramped rooms. However, with the increasing population in the country and the need for modern housing, enormous real estate developers have tried to pick up redevelopment projects for those houses, completely redefining how they look, the construction, and the scale of amenities provided inside them. Trying to book a house in those properties is easier and more economical than hunting for homes in newer developments. Southern Mumbai has a hoard of areas ranging from Dadar to masjid, offering those rooms on rent.

Art Deco Buildings:

What is an Art Deco Building? An Art deco building is a piece of architecture designed in the transition period between 1925 and 1940. Renting out a flat in one of those buildings provides you with a unique blend of old and new architecture, along with an uncommon blend of contemporary art and design. Even to this date, some tenants residing in the commodious apartments of these buildings, pay as little as 300 rupees a month!

Village Style Living in Aarey Colony:

Mumbai is known for its architecture, its cafes, and the cool breeze that flows on your face while facing the sea. Within its walls dwell enormous secrets, secrets nobody has the courage to search for. Mumbai in itself is an embodiment of nature, and what better way to honor the city than to live in harmony with nature? Aarey Colony is one such place with a serene environment and ambience where people have adopted the concept of low rise buildings, offering the space for individuals to retreat from the hysteric hustle and bustle of the city.

Artist Communities:

Areas like Kala Ghoda and Bandra West Can expose you to innumerable new artists, each with a deeper meaning or a pint of history behind them. Renting a flat in these localities will not only expose you to various cultural events, art galleries, and communities but also foster  a sense of harmony amongst you and your neighborhood. The prices in Bandra can typically range from 80,000 to 1,00,000 rupees.

Parsi Houses:

Mumbai hosts different identities; people from Tier 2 cities are welcomed, as are people who have lived here since their birth. The city doesn’t differentiate; it also houses one of India’s richest minority groups that enjoys a hefty sum of rent. The Parsi colony is an exclusive blend of architecture and charming gardens. Renting a flat in the Parsi community can be expensive and range from 80,000 rupees to upwards.

Old Portuguese-Style Houses:

In certain parts of Mumbai, such as Bandra, you can find old houses that exhibit ancient architectural influence. These houses often have distinctive features like wooden balconies, sloping roofs, and bright-colored facades. Additionally, these houses are immersed in bright, vibrant colors that you can spot from a distance. Some houses feature courtyards or inner gardens that provide a tranquil and green space within the home. These areas were designed to provide natural light and ventilation to the interior spaces. Living in one of these converted flats allows you to immerse yourself in the city’s historical past, experience a unique style of residential architecture, and reminisce about the stories before us.
House Hunting is a journey that you don’t have to embark on alone; it can be complicated and often tedious. The quest can drench you and leave you exhausted while you try to reach your ultimate goal of finding a flat for rent in Mumbai, the city that takes a lot from you & gives a lot back. There will be fluctuations in your journey: the ups of finding the perfect humble abode and the downs of the flat that looks appealing in pictures but doesn’t even satisfy 0.1 % of what you had expected from it in reality.

Talking about House hunting, we have a plan ready for you beforehand. We at Jugyah are fully committed to fulfilling every need of our customers, be they tenants or landlords. Our team is at your service, helping you traverse your journey toward finding a home. We are backed by some of the most reputed developers in the country, to name a few:Godrej, Rustomjee, and Lodha. 

What do we offer? The best home with zero brokerage fees and zero security deposits for you! The offer stands till the umpteenth day, and so do we, waiting to welcome you with open arms to the place you call home—to the place that you belong!

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