10 September,2024 12:22 PM IST | Mumbai | Divya Nair
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Mumbai, India's financial capital, has always been a city of contrasts - towering skyscrapers beside slums, historic neighbourhoods beside ultra-modern constructions. Over the past few decades, the city's real estate landscape has evolved dramatically, transforming not only its skyline but also redefining its culture.
In the past decade, Mumbai's real estate sector suffered a massive setback on two major occasions - once during the demonetisation of 2016 and the other during the first wave of the Covid-19 pandemic. However, the sector has bounced back on each occasion.
Despite the skyrocketing prices of houses, Mumbai's real estate sector is thriving. In the first half of 2024 alone, Mumbai's luxury housing market saw a record-breaking sale worth Rs 2,300 crore. This is a 7.69 per cent increase from the same period in the previous year. The residential properties, on the other hand, jumped to an 11-year-high, with 1.73 units getting sold in the first half of 2024 (January-June).
While the homes are shrinking, there is no shortage of buyers.
"My wife and I have been planning to buy a house before our marriage as my parents' house is too small for a family of five. However, it did not materialise then. Now, a year after my marriage, I have booked a two-bedroom-hall-kitchen (BHK) house. It is a basic necessity, and when both the partners are earning, it is possible to buy a house even amid the rising prices," says Sagar Bhatt, a resident of Andheri (East).
Rohan Dutt, an IT professional, said, "The area we used to live in was not good. I feared for my sister's safety. So five years into my job, I thought of buying a house. It's big enough for my family and most importantly, the area is good." Dutt bought a flat in Andheri (East) recently after shifting from Santacruz (East).
During the post-independence period, the city became India's economic hub and attracted migrant workers from across the country, leading to a housing crisis that eventually spurred the development of chawls. Several old verandah two-to-three-storied structures sprawled across Parel and Dadar in the 1960s and 1970s. A majority of the residents here were the mill workers, grade III and IV government employees, and local school teachers. While the Marathi-speaking population formed the majority, these pockets had sizeable populations of Gujarati, Sindhi, Punjabi and Kannadiga communities.
As demand for housing continued to rise, Mumbai's real estate industry transformed, moving away from dense chawls to high-rise residential towers. The emergence of gated communities and commercial complexes in areas such as Goregaon, Lower Parel, and Powai redefined the city's physical and cultural landscape.
Now, tall structures have replaced the old neighbourhoods of the 60s and 70s. While the city wears a modern look, thanks to these high-rises, its culture also began turning more complex and like its houses, more compact.
"My sister and I spent our entire childhood in chawl in Parel. My son spent his first few years there. However, when he was around five-six, we moved to a flat in Goregaon in the early 2000s. My husband, who also grew up in the chawl system in Byculla, felt that we must raise our son in a flat. However, we could not afford a house in south Mumbai," says Nutan Gaikwad, now a retired employee of a bank.
Gaikwad said the cultural differences are starkly evident in both the housing systems. "We used to play freely in the entire area and go home only when it was time for dinner. However, my son was glued to TV most of the time and our society did not have adequate space. As most of the families had moved from chawls, culturally, we could adapt to each other in no time. Yet, everything was different. We were wary of who would visit the society. When my husband and I would go to work, we could call our son often to ensure he was safe. It was a lot easier and freer while I was growing up," said Gaikwad.
The mushrooming of high-end residential towers, often designed by international architects, reflects a shift in aspirations for urban living. These developments cater to the growing upper-middle class and affluent sections of society, who seek modern conveniences and a sense of prestige. The influx of well-to-do upper-middle-class migrants also made a difference.
Many areas in Andheri, Goregaon, Worli and Lower Parel now house tenants who come to the city to make it big. Ashu Singh came to Mumbai from Noida two years ago and works with a production company. He lives in a rented apartment with a flatmate in Andheri (West).
"Most of the neighbours are tenants who came from outside Mumbai. We all live in rented apartments as some cannot afford to buy a house, while others are not sure if they want to or can survive here in the long run as Mumbai is expensive. We barely see each other on other days but when the society organises festivals, we try mingling. It's rare because most of us are busy and work round the clock," he said.
Gated communities replaced the traditional sense of community that was once fostered in smaller neighborhoods and chawls. While these townships provide space for the growth of new cultural hubs, the older residents do find difficulties in adapting to the new housing systems.
"Our society will be going for redevelopment soon. I have spent the most of my life here. Now, one wonders how would it be living in temporary arrangements and after that in a high-rise. At my age, adapting to new surroundings becomes difficult. In our society, we would not keep our doors shut and would walk into each other's homes without hesitation. That won't be the case once this society goes for redevelopment and turns into a high-rise," says 64-year-old Umakant Patwardhan, who currently lives in a Goregaon society.
Rama Natarajan cites the difficulties she faced after moving to a high-rise in a plush society in Thane from a small society in Goregaon.
"I moved roughly around 20 years ago when my grandkids were small. My son felt our two-BHK house was too small to raise them. So we moved to a much bigger apartment in Thane. However, I feel it has affected my independence. My earlier house was located on the ground floor. I could easily meet my friends, and go to the shop on my own and if I was alone, some neighbour would always drop by to check on me, get me food or even stay till the time my son and daughter-in-law would come back. While moving to a new place was difficult, initially it did not seem to be a problem. However, now we live on the 15th floor. I hesitated going out on my own after I had a fall. Our neighbours keep changing as they are all tenants and everybody is busy. You are cooped up in the house the entire time and feel a sense of loss of independence. The older housing systems are convenient for the elderly.
Her daughter-in-law Vidya disagrees. "We were segregated as per communities there. After moving here, we celebrate all the festivals together and feel like a part of a bigger community. There are fewer cultural divisions," says Vidya.
"Home sales are witnessing a surge not just in Mumbai but in Delhi, Gurugram, Noida, Pune, and Bengaluru too. The current generation feels the need to move out of their parents' home and live independently. They can also take loans as both the partners are usually earning. So the trend is likely to stay. Cultural changes are not limited to just Mumbai. Delhi is also witnessing the rise of a new affluent class, which was earlier restricted to those with Grade-I government jobs or extremely rich business families. As far as Noida, Gurugram and Navi Mumbai go, these cities are developing their own culture owing to the rise in migration and the working class population. As of now, it looks like India's real estate sector is likely to continue rising," said Anurag Yadav, a sales executive of a popular developer in North India.
Despite the surge in home sales, the citizens who shell out their life's savings to buy an apartment, struggle with basic facilities of infrastructure in bigger cities. While cultural changes will remain a constant factor, the need of the hour is to tackle the poor infrastructure that affects people of all classes.
