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Mumbai's Sky-High Rents Trigger Brain Drain

  • Mumbai's 1 BHK rent: ₹5.18 lakh annually, surpassing junior-level salaries of ₹4.49 lakh.
  • Comparison: Bengaluru and Delhi-NCR rents are nearly half, at ₹2.32 lakh and ₹2.29 lakh respectively.
  • Mid-level strain: Mumbai mid-level employees spend ₹7.5 lakh on rent, nearly half their ₹15.07 lakh salary.
  • Senior exodus: Senior professionals leave Mumbai for affordable cities, seeking better quality of life.
  • High approval costs: Mumbai's real estate approval costs are 25-50 times higher than other major cities, making affordable housing unfeasible.

Source: Mint, News 18, Hindustan Times

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