Mumbai, India’s financial powerhouse, has solidified its status as the country’s largest residential market. According to Knight Frank India’s latest report, 2024 saw a surge in both residential sales and office market activity. The festive season further stoked demand while new projects flooded the market, leading to 96,470 new units being introduced — the highest supply in a decade. Developers are keen to capitalize on Mumbai’s robust growth, introducing ambitious projects in peripheral areas like Thane and the Central Suburbs, offering competitive pricing and better amenities. These figures seemingly testify to Mumbai’s undeniable appeal in terms of investment and real estate growth.
Yet, amidst these glimmering numbers, the question arises if Mumbai is a liveable city?
On paper, Mumbai’s bustling real estate market paints a picture of prosperity. The city boasts an ever-growing skyline with sprawling high-rise towers and luxury apartments aimed at accommodating India’s elite. However, for the average middle-class citizen, Mumbai’s vibrancy often comes at a steep price—a price that is far from just monetary.
Pollution, which continues to plague the city, is a pressing issue that overshadows any celebratory development. Despite multiple promises of cleaner air, Mumbai remains one of the most polluted cities in India. The air quality index often plunges to hazardous levels. The city’s residents are forced to breathe toxic air as they navigate through the traffic-choked streets.
While projects like the Mumbai Coastal Road, Metro Line 3, and Mumbai Trans Harbour Link are touted as game-changers, infrastructural woes continue to burden the city’s residents. Heavy rains continue to expose the deep cracks in Mumbai’s infrastructure with flooded roads, waterlogged subways and collapsed buildings a regular occurrence despite substantial investments in modernising infrastructure. Residents continue find themselves trapped in long traffic snarls, their commutes stretched by waterlogged roads, even as the government touts new projects as a means to resolve congestion.
Mumbai’s crumbling infrastructure is not just an inconvenience but a risk to public safety. The constant pressure on the city’s overburdened drainage system during the monsoon leaves thousands of households vulnerable to flooding and the threat of diseases like leptospirosis and dengue.
For a middle-class citizen, purchasing a home in Mumbai, especially with the rising average residential prices, is increasingly akin to signing a long-term contract with uncertainty. The hard-earned savings spent on property are, for many, just a down payment on a dream that may never quite live up to expectations. Despite rising property values, the quality of life in many parts of the city remains far from satisfactory. While Mumbai’s real estate market continues to boom, it seems increasingly tailored to cater to the rich, with the middle class and lower-income groups often left grappling with the realities of overcrowded neighbourhoods, unsafe infrastructure and deteriorating air quality. A city that thrives on commerce and innovation may very well be India’s economic hub, but for the average Mumbaikar, the unfulfilled aspiration remains for a more sustainable and more affordable Mumbai.
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