Mumbai’s real estate industry should introspect its Pepsi experiment

Last week a prospective homebuyer asked me to evaluate a “luxury” project that he was thinking of purchasing an apartment in. It was located in an up-market area of Mumbai and had a bouquet of amenities like a swimming pool, gym, space for indoor games, etc. “If you are looking for luxury then this project is not for you,” I told him.

I had a simple reason for my view—the apartment had a size of less than 650 square feet. Now I don’t care if a developer builds a helipad in the project, in that meagre a size, it is embarrassing to even claim that it is ‘luxury’ of an apartment.

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