Lockdown caused a lot of pain to a lot of people.According to a report, during lockdown many migrated out of Mumbai and more than this, many faced a problem, even they couldn’t afford rent.

By Varun Singh

The Coronavirus led pandemic which made the government impose lockdown, brought difficult times to many people.

The real estate industry was also not spared by the lockdown, the market had almost collapsed.

Reverse migration reached its peak during the lockdown, with many people leaving the city of dreams.

A recent survey by Praja Foundation says that, 18% of the respondents they surveyed migrated out of Mumbai as they couldn’t afford rent during lockdown.

Not only this, 69% of the all people surveyed, said that they faced a difficulty in paying the rent during the lockdown.

Job losses and pay cuts had become the norm during the lockdown. Because of which a lot of tenants wanted their landlords to ease the rent contract.

Praja report says that, 60% of the tenants said that their rent contract was not eased during the lockdown period.

While 40% said that their rent contract was eased during the lockdown period.

Pankaj M, a tenant who use to stay in Khar during lockdown said that his landlord started deducting the rent from his deposit, during lockdown. It was after a lot of negotiations, that his rent was finally reduced.

Adv Prakkash Rohira, says that, one also has to see the landlord side. “For many landlords rent from their properties is the only earning and that is how they survive. If they waive off that, how are they suppose to live. So both sides the tenants as well as the landlords have to be heard.”

Also Read: Will Mumbai See 10K Sales In January?

Leave a Reply
You May Also Like

456 Realty Projects in 2021 were stopped from selling flats

Since 2017, a total of 3,065 realty projects across the state of…

Fractional ownership market in India predicted to grow over 10x to surpass USD 5 billion by 2030

Micro, Small and Medium (MSM) Real Estate Investment Trusts (REIT) regulations by SEBI,…

Peddar Road Flat Sold For ₹1.56 lac PSF

Peddar Road Flat sold at ₹1.56 lakh per square feet becomes one of the most expensive realty deal in India and Mumbai

2 Duplexes Sold in Napeansea Road for Rs 103 Cr Each

Two duplexes were sold recently in Napeansea Road recently for Rs 103…