PLURAL

Presentations on Status of Rental Housing with identified gaps and possible bridges:

The presentation to the stakeholders highlighted the current statistics and demographics around renting and led to deliberations on the condition of housing, unsold inventory, affordability conundrum and financial mechanisms.Exclusions from the housing supply chain that has led to informal renting options in compromised living conditions were discussed along with lessons of flexible living formats from the informal housing market.

Global and local case studies of successful models and the scope of rental housing in providing Housing for All in India were presented in great detail. National and State level contributions to support construction of new rental housing to meet the change in demand of housing were explored as future models.

The search for a home in the city is a non-linear process. Can your landlord evict you before the lease period is over? Who will pay for the repair of broken appliances in a rented apartment? How do you ensure you will get your security deposit back on time? These are some of the leading questions that plague first time renters and landlords due to a lack of awareness.

Our research RENTING REALITIES IN MUMBAI identified such communication gaps that make renting a non-convenient process and is gearing up towards solutions.

Affordability Conundrum in Mumbai:

A median-income household (35k per month) in Mumbai cannot afford to buy a simple 1 BHK within the boundaries of Greater Mumbai. The EMI for 20 years for such a flat at the current interest rate ranges from 113% of their monthly income in Thane to 540% in Bandra!

Our research RENTING REALITIES IN MUMBAI is gearing up for many such conversations with stakeholders from diverse fields.