By Sushant Agarwal
Published on | Jul 01, 2025
Even Maharashtra’s richest urban families would need to save for 109 years to afford an average-sized home in Mumbai, new data reveals.
Even households in Maharashtra’s top 5% income group earning ₹10.7 lakh/month would need decades to buy a home in Mumbai, data shows.
At ₹29,911 per sq. ft., a standard Mumbai home costs ₹3.54 crore. Even top earners saving ₹3.2 lakh/year would need over 100 years to afford one.
In comparison, top earners need 64 years to buy a home in Gurgaon, 36 in Bengaluru, 35 in Delhi, while Chandigarh is most affordable at just 15 years.
The numbers sparked disbelief online. Some questioned, while others raised concerns about housing policies & rising urban living costs in India.
The affordability crisis worsens as property prices surge. ANAROCK reports a 23% year-on-year rise in average home prices across India’s top 7 cities.
Delhi-NCR led with a 56% price surge, followed by Bengaluru at 44% & Hyderabad at 37%. Mumbai stayed costliest but recorded highest property sales.
Between April and September 2024, the Mumbai Metropolitan Region saw the highest property sales in India, followed by Pune and Delhi-NCR.
By 2025, NRIs may drive 20% of luxury home buys in India, boosted by digital platforms like NoBroker.com, says Bloomberg.
With even top earners needing decades to buy home, India’s urban housing crisis is deepening—calling for bold reforms & a fresh look at affordability.