Residential Property in Mumbai is a mixed bag, ranging from old, neglected and dilapidated buildings to ultra modern apartment blocks and everything else in between.
Until recently Mumbai had been one of the most expensive cities in the world to buy or rent an expat quality apartment, especially at the top end. Purchase prices in some locations reached as much as $10,000 per square meter! Check out apartment rental costs for various expatriate residential locations in Mumbai here.
Free Cost of Living - Mumbai Guide

There are a number of reasons for this situation, these include;

• Limited availability of Land to build on, (island city).
• Low ratio of high quality apartments to population density.
• Upsurge in demand for high end apartments from Expatriates relocating to Mumbai.
• Rent control laws which have inhibited investment in residential property in Mumbai.
• Reluctance of owners to rent properties because of some of the implications of the Maharashtra Rent Act 1999, See
  http://www.accommodationtimes.com/legal/rent-act/rent-control-act-2/

Expat residential locations Mumbai

A Mumbai Relocation will entail travelling in Mumbai and this can be difficult, no question about that. Whilst attempts are being made to upgrade the transportation infrastructure, the everyday reality for Mumbaikars are traffic jams building up all over the City after 6pm in the evening and from about 8.30am onwards in the morning. You don't want to be travelling long distances during these times.

Children will need to be within reasonable traveling distance to the school. It's often a tradeoff between the school location and work location if they are a long way apart.

There are a limited number of different locations where the majority of expatriates reside in Mumbai, (See Map). Historically, this is where expatriates have always lived.
These areas have the biggest choice of amenities and facilities including; Hospitals, Schools, Clubs, Restaurants & Bars, Shopping, Dentists, etc.

View of Juhu residential area taken from 9th Road

Does the apartment leak during Monsoon? Is the immediate area prone to flooding during Monsoon? How old is the property? Who will pay for any major structural repairs if required? These are just some of the questions that need to be asked before renting a property

Is the requested rental price higher, lower or equal to the prevailing rates in the market? Using a CMA or a property comparables market analysis, i.e. comparing rental prices of comparable properties recently leased out will give you this information.
Remember, rental terms and prices are negotiable in Mumbai.

• In general all bedrooms should be en-suite; a 4 bedroom apartment will usually have 4 bathrooms. Showers are the norm although some bathtubs are also available.
• Most Expat Quality apartments and newer buildings in Mumbai tend to have 3 or 4 Bedrooms although 1 to 2 bedrooms are also available. Usually there is a disproportionate decrease in the size of the living room from 3 bed roomed to 2 bed roomed apartments.
• Apartments can be fully furnished, semi furnished or completely unfurnished, depending on the clients requirements. Owners may furnish properties if requested or remove furnishing according to tenants needs.

This is usually required to be exchanged by both parties before the signing of a lease. An LOI is not a legally binding document; it merely sets out the general or specifically agreed upon terms for rental of a property, i.e. rent amount, period, etc.

All residential and commercial leases need to be registered at the nearest Maharashtra Office of Stamp & Registration. This is a legal requirement and should be completed within 120 days of signing the lease. The onus is on the landlord to ensure this procedure is completed, however for the tenant a non-registered lease means that after 3 months they have no legal status in the rental property!

Luxurious living room – Mumbai, India