Why do Mumbai Peoples pay crores to buy homes in 100 year old buildings that can fall anytime?

Why do Mumbai Peoples pay crores to buy homes in 100-year-old buildings that can fall anytime?

The money is not for the bricks and mortar but for the air space in that location. Which is why for the price of one apartment in this 100-year old building near Marine Drive at Churchgate.

You can buy at least 10 apartments of the same size in a modern complex by Tata’s at the outskirts of Mumbai.

And if you think that you can buy a Lamborghini with your savings by buying a distant apartment, you will still spend three hours of your life every day travelling. For example, look at the below picture to see how much distance you need to travel when you purchase a flat in the outskirts of Mumbai.

 

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