We will begin with orienting you on the Sizes and approximate prices in Mumbai for apartments. You may find a bit shocking knowing that the real estate here can be expensive more than your own city. Typically, each apartment has its own character and the price of the same is depends on its Merits like condition, floor, view, furnishings, location, etc. We are trying to give you a brief indicator below which will at least give you a fair idea on setting up your budgets prior to negotiating your Expatriate Salary with your Company etc.

Check out the Lease Rent Rates here

* BHK - Means Bedroom, Hall and Kitchen.

* Un Furnished (UF) - Bare Apartment with basic lights, fans etc.

* Semi Furnished (SF) - Means Apartment with basic amenities like Kitchen Cabinets, Wardrobes, A few white goods like AC's etc in Premium Apartments may be available if they were leased before.

* Fully Furnished (FF) - With Beds, Wardrobes, Sofas, Dining, White Goods etc. (Walk in with your wardrobe kinds).


Mode of Payments

Every City or Country typically has there own way of dealings and most of the time the same is standard. Mumbai is pretty unique that way, a lot here depends on a combination of factors which can even confuse the experienced guys.

Typically there are 3 Ways we can Transact >

1. High Deposit - Low Rent - Typically this is an option which large corporate's having cash flows exercise and to save on the Fringe Benefit Tax and even from the Taxation perspective this kind of transaction is appealing. The only down side is that you need to have a water tight agreement if you are placing high Security Deposit. The License Fees/Rent is usually paid per month before the 7th or 10th day of every month.


2. Low Deposit - High Rent - With dipping interest rates and bank deposits not becoming lucrative, a lot of conservative investor type or even second home owners prefer to take a higher rent per month and a lower deposit. This usually is a practise in the market. The owner needs to feel safe with the Company or an individual and then it is all easy to go on from there.

3. Advance Rent - Nominal Deposit - The advance rent is becoming popular with both owners and expatriates and it is less worry some, you can sign Day 1 pay the owners 1 years rent in advance and not have any worries over your head. A small deposit of 1 to 3 months comforts the owner from any pending bills or damage to the apartment.

Please mail us on ssadh@realestatemumbai.com  if you want to go through a typical contract which in Mumbai is called the "Leave and License agreement". This agreement is usually signed for 12 to 60 months. Most of the owners sign agreements not beyond 36 months and if they do they like to build in escalation clauses in the same. The typical lock in period can begin with 1 year and owners love the same but you need to see how long you are here and you can use it as a negotiation tool at times.

There are a lot of points you need to know like maintenance, right of the licensor (owner) and licensee (you). In our relocation guide we have tried to put in most of the thoughts and we are sure you will be able to gain a lot from the same.