oppn parties Mumbai: Nano Homes, Mega Prices

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  • Crude prices fall sharply as Saudi Arabia assures normal production in a few weeks. Prices fall by 5.4% to $65.30 per barrel
  • Sensex tumbles 700 points over fears that rising crude prices will deal a body blow to the tottering Indian economy
  • As Rajeev Kumar fails to appear before the CBI despite several notices, the agency forms a special team to locate and apprehend him
  • S Jaishankar says Pakistan is not a normal neighbour and its behaviour is a "set of aberrations"
  • External Affairs Minister S Jaishankar says PoK in Indian territory and the country hopes to have physical jurisdiction over it one day
  • Barasat Sessions court near Kolkata rejects Rajeev Kumar anticipatory bail application citing lack of jurisdiction as the reason
  • PM Modi celebrates his birthday with Narmada aarti and later has lunch with his mother.
  • All 6 Bahujan Samaj Party MLAs merge with the Congress in Rajasthan
  • Bengal CM Mamata Banerjee to meet PM Modi on Wednesday, state issues on the agenda
  • Pakistan to open Kartarpur corridor on Nov 9
  • Rajeev Kumar, ex-police commissioner of Kolkata and wanted for questioning in the Sarada scam does not appear before the CBI despite the state administration requesting him to do so
  • Supreme Court asks the Centre to restore normalcy in J&K but keeping national interest in mind
  • As Trump accepts the invitation to attend a programme in Houston with PM Modi, India rushes to settle trade issues with US
  • After drone attack on Aramco's Suadi Arabia facility, oil prices jump 19% in intra-day trading causing worries for India
  • Imran Khan raises nuclear war bogey again, says if Pakistan loses a conventional war, it might fight till the end with its nuclear arsenal
Sunni Wakf Board and Nirvani Akhara write to the Supreme Court for a negotiated settlement to the Ayodhya dispute
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Mumbai: Nano Homes, Mega Prices

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About the Author

Sunil Garodia By our team of in-house writers.
People are talking about the nano – they can’t even be called tiny - flats being sold at mega prices in Mumbai suburbs (as reported by The Times of India). Starting from 189 sq. ft and going up to a ‘luxurious’ 320 sq. ft, these flats are being built in Malad, Kandivili and Chembur. They are being sold between Rs 53 lakhs to Rs 1 crore, depending on configuration. Mostly, they comprise a bedroom, a kitchenette, micro living area, toilet and storage space. In a city used to living in small spaces, or to those who have spent their lives in slums or tenements, these flats spell opulence. The price seems outrageous to non-Mumbaikars, but residents of the city are used to quotes of Rs 2 lakh per sq. ft in tony localities and hence Rs 28000 per sq. ft. for these flats is not much. But people in other cities, used to living in big flats, are amazed how people can pay such huge sums for such nano flats.

A person living in Assam, for instance, might have a whole room to himself and that would be more than 300 sq. ft, inclusive of attached toilet and dressing space. Granted that Assam is not Mumbai in terms of space or pricing. Still, that person will be left wondering how a whole family can manage in just 189 sq. ft.

In terms of visual appeal, the flats are not bad. In fact, judicious use of space and imaginative design and colour scheme means that these flats are very attractive to those who are upgrading from slums or tenements. One buyer is relieved that he will get 24X7 water in his flat – he says that will eliminate the hassle of going to the common tap in the slum. For him, that is the ultimate luxury.

Still, people are wondering how Mumbaikars can even think of paying a king’s ransom for such tiny living spaces. But the way things are progressing in other cities too, there will come a time when large living spaces will move out of the budget of the common man and he or she will have to make do with such tiny spaces at outrageous prices.

picture courtesy: The Times of India