Mumbai Homes Cost 34 Years of Salary

In Mumbai, buying a home now costs 34 times the average person's yearly salary.

This is much higher than in other expensive cities like New York or London.

Experts say a healthy number is between 3 to 6 times.

In Mumbai, it's now 34 times, which means most people can't afford to buy a home.

This is also true in other big Indian cities like Bengaluru, Delhi, Pune, and Gurugram.

In Gurugram, homes are so expensive that you need to earn at least Rs 2.5-3 lakh per month and have big savings to buy one.

Because of this, many young people are moving to cheaper areas far from the city or choosing to rent instead of buying.

The problem is caused by a mix of things: homes are getting more expensive, people's salaries aren't growing much, and there aren't enough affordable homes in good areas.

Some experts say it might be better to rent and invest money elsewhere.

If this doesn't change, many people in India might never be able to own a home in the big cities.