How to get an apartment / flat for patient in Mumbai, India?

Monday, September 24, 2012 · 2 comments

We at get lots of enquiries from out of Mumbai form India and across the world that they need an apartment on short-term rental. Some of these people need these apartments because of medical reason generally they would visit Mumbai for cancer or fertility treatment where duration of treatment is longer and some time NRI’s on long vacations to sort out their personal issues like ancestral property dispute, fixing up marriage of their children etc. In the case of medical reason there are lots of dietary restrictions from doctors and some time due to long duration of treatment it is very necessary to have home made food. These need various from couple of days to couple of months.
 In Mumbai nature of real estate market and scarcity of housing makes life difficult for these people. Being Lots of hospital situated in South Mumbai make matter worst. One of man behind use to live in New York and think that New York is housing market is most difficult but he has changed his perception / view after experiencing Mumbai housing real estate. To have a quick transaction in Mumbai’s real estate market every thing works against it whether it is law, legalities, management societies, high capital value and top of that long chain of agents involved. try’s at its level best to tackle this problem/ menace by using its experience in real estate. Hear we would like to view this problem of short term housing from all party involve, it is owners, tenants, we are living brokers, because we think that they won’t agree to our solution that for short term rental is not their forte and for all these type of request they should refer instead of wasting their time, tenants and owners time.
Let’s take look at
Tenant view / Perception:-
Generally prospective tenants have no idea of Mumbai Housing / Real Estate. People who come from any part of the world for medical help in Mumbai are most probably affluent in their city. They live in big houses rather bungalows and think that they will be able to afford same luxury in Mumbai and when realities bits and they relies that forget to get bungalows here owner are even wary to renting their very mediocre flats also for short term, and pulls (sorry! we meant connections, in India we relay on connection and call them pull:) doesn’t work Their pride take a knock. Same time agrees that it is big shock for them and bit difficult to adjust to this type of life style change. From somebody to nobody! Stress of sickness of their close one make matter worst. They think that people rather owners are not human and rent they ask is like asking their own share in the pond of flash.
Owner’s View/ Perception: -. Owners are wary of giving their houses to one individual due to fear of in case of not vacating and not timely payment of rent. They are bit wary of having some one sick at their place because tenants will have lots of visitors and that will create mess and their furniture will get spoiled. Owner don’t want to rent their property on short term rental because they don’t want to go through rig marole / process of tenant hunting again and again because of rule of societies, legal hassle etc. tries its best to see this situation objectively and some suggestion for only two parties, owners and tenants. If few things people looking for
short term rental keep in mind then their house hunting will be not so tough. Tenants should always keep in mind that they are entering in most difficult housing market of the world. Tenants tend to value their money more then it should be in any market place every rupee has same value. In Mumbai’s real estate market for tenants it is survival of weakest then fittest, the more you assert your powers, knowledge, connections, arrogance or not polite behavior the more it will be difficult to find a place. In Mumbai property owners are very wary of tough people. One should be all time considerate to owners views. By being polite and curtsies never hurts. Money is dear to every body and we Indian have the habit of negotiating, that is fine but we should also know where to draw the line and negotiating should not convert in argument or haggle. It makes owners uncomfortable, they start doubting creditability of opposite party, but same time you should not pay some thing more then fair value of the place. Some time tenants don’t put their requirement clearly ultimately that waste their time. Clearly mention that these are bare minimum you expect from the place and these things will be nice to have. Owners should also realize that 

Few Quick Tips:-
For 1 day to 7 Day’s stay :-If you are looking for flat, for 1 day to 7 day’s you should try your relatives only or  sanatoriums, hotels and service apartments. You have only 5% probabilities to get some thing even through
7 Day’s to 15 Day’s stay:-  
Try all options given above and you may try but probability to rent a flat is around 15% and for renting of room / paying guest accommodation it goes up to 35%
15 Day‘s to 1month stay:-
 Hear probability increases to 25% for flat and 50% for PG or room
1 month to 3 / 6 Months stay:-
Hear probability increases to more then 70% for flat and you almost hit the upper cap of 100% / roof for PG
Housing Swap: - Housing swap in Mumbai is not possible because big disparity in rents of other part of the India or World visas a visa / compare to Mumbai.
Brokerage:- In Mumbai commission of real estate broker is minimum one month rent and it can go up to two month rent, that is why most suitable for short term rental because its charges fixed fee of Rs.2000/- or 50$.This brokerage fee charged by brokers is biggest hurdle in finding any place and having fixed fee doesn’t have inclination to increase the rent to get higher commission.
Credibility: - Credibility has maximum premium in Mumbai’s real estate market, tenants should demonstrate that by giving good references, through this tool they can get the place which otherwise would have not possible.
Paying Guest (PG) Accommodation: - In some of paying guest accommodations you get cooking or home made food facility. If you are couple of people and don’t expect visitors then you should consider this option which is cheaper and you get access to thing which any running house has.
Commuting distance:- People from small city wants their flat should be near to hospital where they have to visit regularly because they are not used to travel. If one bit open to travel he/ she will get more options / choices and when you are in city only for treatment then you have ample to time so you shouldn’t rigid about the distance, unless its is suggested by docter. People who are not from India think that it will be very expensive to travel by cab and at times you might not get cab at all. That both things true in European countries or America, just to give you some perspective that New York and Mumbai has lots of similarities logistically, culturally, geographically and Ney York has around 12000 Cabs and Mumbai has more then 60,000/- cab and these are not expensive even if they take you for little ride, which seldom happens.
Market Realties: - In any market where two parties transact it is never that either of parties decide price but is it market which decide price. One should understand market realties of Mumbai’s real estate market and conduct accordingly. It is business deal for both parties and owners are not here for charities.
Fast Decision:- Some time seen that people take so long to take decision that by the time they decide for some thing that some thing is no more in the market or even if they get it they couldn’t benefited by its full potential. It is matter of couple of months not of life so one should be quick.   

Role of What Reds can do can’t do / what is the benefit of Reds has ever growing data base of sanatoriums which provided free of cost. You just have to communicate it through our FaceBook, twitter or LinkedIn account. doesn’t only has online properties which can be acess any time on site but it has sizable offline data base also which got developed over the years in real estate comes handy in these trying times. has years of experience which can be used in valuation, breaking ice with owners, negotiation and certain logistic and legal issues. Service apartment market is in bit nascent stage in Mumbai and endeavors in this direction that it should have maximum service apartments in its data base if not all. If your place is not furnished then can provide you list of vendors who provide furniture on rent. In short will be always there till you move in. 

Is Nariman Point A Sinking Ship? Current Situation of Residential, Commercial, Real-estate at Nariman Point.

Monday, September 17, 2012 · 0 comments

Once upon a time Nariman Point used to be treated as one of the Best Business Districts not just in India but Asia’s also, but now it is slowly turning in Ghost Market or say sinking Titanic ship.
Real estate prices in Nariman Point business district are more or less the same since last 15 years although, in the same time span, prices of residential buildings at Nariman point appreciated tremendously. There are several reasons behind it. But there are two main culprits behind this; one Government and other owners themselves. We might be offending to’ s current and prospective clients but that is true. What we have realized is that there are 3 types of owners in Nariman Point.
1)      Those who were lucky, or smart to realized that this ship is sinking and left it.
2)      Those who had great journey on this ship for not only few years but decades. These types of owners are not bothered about the water is seeping slowly into the ship and it might sink if they don’t act. They think it has been working for so many years and will continue to work in their favor.
3)      Those who have given up hopes and are watching slow death of this prominent business place and not doing any thing. These set of owners call and ask us the current prices of offices in Nariman Point are so that they can sell it off and desperately looking for buyer who is interested in Nariman Point location but it is getting difficult.

We at are really surprised that there are only few of such an influential stake holders, who are concerned about its glory, prestige and legacy. We firmly believe there should be one group of people who should address the problem of rising water and understand that but if we come up with an innovative idea then we can stop this then this ship will able to serve us for many decades. thinks that if we apply few things then this business district will turn around. Occupancy level which is currently less then 65% can come up to 90 – 95%.
  1. Municipal Taxes: - In Nariman point municipal tax is an issue on which all the owners are confused. Societies have been fighting against this unreasonable demand of government. Bureaucrats are at their best to kill this golden goose out of their personal greed. They have put such high taxes on Nariman Point offices under collector fee, because Nariman Point was constructed on collectors land. Till few years ago these taxes were unreasonable but bearable. But now BMC (Bombay Municipal Corporation) has increased it by almost 10 times. Now taxes are similar or higher than even the rent one gets from his property in Nariman Point. Due to this, many offices are vacant and waiting for more clarity on this issue creating such a big unused space in Nariman Point. Nariman Point and World Trade Center at Cuffe Parade are prime example of how to waste scared resources like real estate.
  2. Hawkers: - It seems Nariman Point doesn’t have footpaths now days as almost 70% of footpaths area is being used by hawkers creating a bad impression on visitors especially expats. The smell of food and filth created by them is really black spot on such a prominent business district. Government should do something to remove these encroachers but it is like expecting too much, as it seems these hawkers now have electricity and telephone connection also, which makes them legal in a way.
  3. No Budget Restaurant: - In Nariman Point there is no budget restaurant where low rank employees can have meals. If government comes up with some solution where not only staff of firms which has offices in Nariman Point but regular visitors also can have meal at reasonable cost, then the menace created by hawkers will also reduce to a certain extent. Almost all restaurants such as, Status, Relish and restaurants at CR2, Hotel Trident (Oberoi) are not budget restaurants. 
  4. Parking: When Nariman Point was created, car was a luxury. Things which were luxury yesterday have become a necessity today. In 1970’s only owners would have a car but now in changing business environment even employees have their own cars and this infrastructure no longer handle the increasing load. Government need to built an under ground parking place to handle this but then again, it is too much to expect because the space they had building a parking place, they sold it to create CR2.
  5. Reasonably Priced Shopping Centre: - Nariman point doesn’t have any reasonably priced shopping centre in the vicinity. CR2 and the shopping center at Hotel Trident are not for budget user.
  6. Change Commercial Building to Residential: - Now we see that the way deals are happening in only residential building of Nariman Point, NCPA Apartments and prices of offices at Nariman Point. It is giving a very clear indication that residential has stronger demand compared to offices. So why not change few buildings from commercial to residential and bring some equanimity in demand and supply?
  7. Improvement of Buildings :- Except very few buildings like Bhaktawar, Free Press House, Embassy Center, Makers Chambers, Nariman Bhawan etc. Who have put some effort to improve their lobby, fa├žade etc., buildings like Arcadia, Mittal Court, Mittal Tower etc are in shambles. In these buildings after 9PM the staff cooks food at the podium, changes uniforms etc. These things create a very bad impression. All Nariman Point buildings are over staffed. If societies use modern technology like internet to send the bill, notices and use net banking, file returns and pay taxes online and have modern automatic elevators then they don’t need such army of staff. Over staff podium looks very crowded and it creates lots of nuisance and corruption.
  8. Miscellaneous: - Few things like improvement of foot paths, educating of societies is very important because right now they are creating inconvenience to not only to office owners and their employees but visitor also in the name of security. Rules are laid down by people who either don’t have vision or have their selfish interests if not both. Societies have become a big ADDA of corruption thinks that if these few things get implemented then Nariman Point can restore some of its lost glory again. We agree that certain things can’t be changed like in buildings of new business district such as Lower Parel or Bandra Kurla Complex (BKC) but then they also don’t have few things like Marine Drive which Nariman Point boast of. There is nothing comparable to a walk at Marine Drive after a hard day at work watching the endless ocean one side and the twinkling glory of Malabar Hill on other.