Mumbai shares the same old story of little land and millions to shelter! Real estate Mumbai prices soar the highest as compared to any other metro. Apartment and flat culture is the buzz in Mumbai as it poses a cut-throat competition to individual housing. It is not that Mumbai always supported the apartment/ flat culture. Earlier, people had no problems in living in cramped spaces of “chawls” or, if someone was lucky enough, in their own individual houses. If the income earned could suffice the basic amenities it was considered as bliss. Let us together unravel the mystery of apartment culture in Mumbai.
Hailed as the business and commercial capital of India, the demand for shelter has sky-rocketed in Mumbai. The hot seat for Bollywood and fashion divas makes numerous aspirants head for Mumbai and feed their hunger for stardom. With millions of people flocking to Mumbai, the city is also embracing the apartment culture at a rapid pace. Imagine a situation, a plot of land with some fifty people trying to make it their shelter…what is it that can be done to accommodate all these on this single piece of land? Building an individual house is of course out of question, but yes, how about building houses one on top of the other so that each family gets its own house….This is what exactly MHADA (Maharashtra Housing and Area Development Authority) thought! Thus came in the apartment and flat culture which is a rave today.
MHADA was set up in 1977 to provide reasonable housing facilities to the inhabitants of Maharashtra. MHDA built several cost-efficient housing projects by purchasing plots and transforming them into affordable flats or houses for the low-income, high-income and middle-income group. It came up with housing projects in Andheri, Ghatkopar, Oshiwara, Bandra-Kurla Complex, Powai. LIG and MIG flats were built in Bandra while LIG flats were constructed in Ghatkopar and Andheri. The apartment and flat concept received an overwhelming response as the space crunch and the increasing population did not provide any alternative and also the flats or apartments built by MHADA were far more affordable then the prevailing market prices. Under the housing schemes of MHADA, flats and apartments are allotted on a lottery system for an impartial distribution of flats. The flats built by MHADA were well-equipped with the basic amenities of water, power and sewage disposal. Seeing the response of the general masses towards MHADA housing projects many private builders also constructed apartments and flats with ultra modern facilities and luxurious exteriors. The apartment and flats trend started by MHADA was taken to new heights with the advent of fully-furnished apartments and flats.
MHADA has undertaken housing projects on a mass scale in Powai, Majaswadi, Oshiwara and Chandivali. The authority is again facing a space crunch; currently it owns around 100 hectares in Turbhe and Dindoshi primarily and is making efforts to acquire land in Vikhroli-Mulund region. Also, its recent housing schemes, particularly at Oshiwara, target the elite class the society. The township of Bhabrekar Nagar is one of the primary projects of MHADA. It is only due to the change initiated by MHADA that flats are available at a reasonable price in areas like Andheri and Chandivali. In the year 2009, MHADA launched the MHADA housing project for Versova to built flats for the creamy layer of the society.
Mumbaikars are now dreaming big, as big as to replace their “chawl” accommodation with the minimum of at least a one bedroom flat or an apartment. The craze of owning an apartment or flat is increasing at an exponential rate. The hearts of the inhabitants of Mumbai is craving for something more than just basic amenities in their dream home. There is no dearth of people ready to splurge out extra bucks to add a dash of comfort and luxury to their lives. After all, the earning capacity of the people is going up and so are the spending habits. There are several reasons why individual houses are lagging behind in the race with apartments and flats closer to the winning line.
The cost of an individual house/ plot of land is supposedly bound to drill a bigger hole in your pockets than purchasing a flat or an apartment. Moreover, the facilities in an apartment play a vital role in casting a spell on its prospective buyers. An apartment with elevators, 24-hour security and power back up, uninterrupted water supply, posh interiors, landscaped gardens, playground for kids, parking facility and lots more is but obvious given a preference to an individual house. The cost of an apartment or flat in Mumbai depends on the location as well as the facilities and your requirement for one- two- or three-bedroom apartment. So, if you are ready to part with your money for owning a stylish, comfy, secure and well-equipped apartment or flat, you better hurry before someone else books it. Walk with the times and be a part of the change—buy yourself an apartment or a flat today!
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