3 BHK is nothing less than Rs 2 lakh: Mumbais redevelopment wave pushes home rents to dizzying heights

Mumbai's rental market is experiencing a surge in prices and a shrinking supply, contrary to expectations. Redevelopment projects are forcing residents to pay higher market rents, creating a significant financial burden. This trend, driven by increased demand and limited availability, is expected to persist for several years, impacting both tenants and landlords.