Came here to spend time with Family. Was looking for fine dine restaurants to eat with parents on New Years Eve. Called up couple of places and got 3 person table price in the range of $140-$640. This is just one instance. Other instances include spending $15 just for evening snacks for one person. Apartments: Looking at $300k apartments for 700 sq ft basically 2 bedroom apartments with really no views outside windows and no parking spots. The community has crumbling infrastructure and you don't get the feeling of new homes even in brand new apartments. There are open sewage drains visible and there's just dust and dirt everywhere you see. People are horribly rash drivers and there's no concept of lane discipline. Traffic is worse than 101 at peak times and there are a lot scooters and bikes that just move at their own whims and fancies disregarding traffic discipline. Now, I know these prices are standard prices for Bay area. But that's the whole point. Bay area offers prime tech market and one of the highest salaries in the world. People have lane disciplines and traffic is not unruly. Apartments are a bit more expensive yet they give you the quality for the money you're spending. It's possible to buy a condo in bay area from Bay Area salary in 10-15 years. You definitely can't buy a condo in Mumbai by earning in Mumbai with median salary at $ 30k at year.
Mumbai isn’t for poor tech workers.
Never said it is. But the question is how are people surviving if tech workers from Bay area find the prices alarming.
Well 60% population lives in slums.
Apartments are at least 3x more expensive in the bay. Not wholly convinced that Mumbai is more expensive than the bay, but the numbers are definitely a news to me.
Apartments are expensive in Bay but Bay also gives that ability to buy in 10-15 years. The economics of Mumbai don't add it up.
Mumbai was always expensive. Are u a mumbaikar
I am. It wasn't this crazy 4-5 years back.
I think it's due to currency devaluation.
Lot of people there are crazy rich. Suburbs are still affordable.
The prices are for suburbs. People are crazy rich based on what? Stock market? Gold market? Definitely not a 9-5 job. Even if you consider family business that'll be 20% of population of Mumbai
Mostly from the property boom and businesses, and don’t forget its the hub for tv/bollywood celebrities. If you have a spare house in Mumbai you can retire and live off the rent.
With H1B scams, Bay Area will turn into Mumbai soon.
Big cities in the world are all expensive than bay area in general..
That's what it looks like.
Do you have an foreign accent? When I was last in Mumbai, we always let our buddy ask for prices, organise reservations as we found that we had to pay a surcharge for having an accent other than the locals. (This is on top of the general expensiveness of the area).
It is Bubble and it will get broken when economy crash.
New Years is always expensive in India especially big cities .. housing is always expensive and you won’t eat chat every day outside if you live there .. mumbaikars who live there are multigenerational.. my in laws live there and now if we had to live there we will just upgrade from our in laws place .. less is more in terms of sq footage .. newer apartments are bad .. just look at old construction .. they have better floor plan and do interiors.. a fellow mumbaikar ...
India
Yesterday
1358
Slavery has REVERSED! the US is the slave!!! Check out this dude who pays a personal trainer in India
Tech Industry
Yesterday
355
Which is more prestigious, Indian Institute of Management-Ahmedabad or Harvard Business School?
Work Visa
Yesterday
5572
Last h1 attempt
Tech Industry
Yesterday
778
Do you really think Amazon is that bad
Tech Industry
Yesterday
636
Best LCOL or MCOL city?
Who told you that Mumbai’s median salary is $30K per year? I would guess it’s much lower than that.
It is much lower. I'm considering top of band salaries at FANG.