Cheap Houses Rent Mumbai

Houses on rent in Mumbai have always been a matter of acute shortages owing to the huge gap between demand and supply. According to a report, the city needs 84,000 houses every year additionally, but the combined effort of private housing companies and government housing authorities yield only 55,000 houses annually. The deficiency in supply of houses keeps on propelling the real estate prices to a new zenith every year. As a result, house rent in Mumbai is hitting the sky, which compels a majority of people to live under unhealthy atmosphere in cramped rooms or flats on a share basis.

This is not all. In order to rent a house, such as a flat or apartments in Mumbai, it is often required to deposit a lump sum as a security amount, of course, without accrual of any interest.

Flats for Rent in Mumbai:

Since the scope for further development of residential facilities within the peripheral of the city is on the verge of its saturation point, builders and developers are coming up with their housing projects at the outskirts of the city paving way for the growth of Mumbai suburbs and satellite cities like Navi Mumbai . Even, the growing trend of house rent in these areas ceases to bring any relief to home seekers.

Posh localities, such as Bandra, Juhu, Worli, Santacruz and Khar are the most expensive areas in Mumbai to rent a flat or apartments, which command an average rental value to the tune of Rs. 4-10 psft per month. While it requires between Rs 8 to 16 psft per month to rent a flat in Worli or Santacruz, the cost to rent home in Juhu or Andheri comes at a comparatively cheaper rate between Rs. 4-10 psft.