In this Mumbai building, people receive millions of rupees to live there
A residential complex in Mumbai reportedly pays its residents between 2.5 lakh to 3 lakh rupees annually instead of charging maintenance fees.
Mumbai, known for its exorbitantly high real estate market, is home to a residential complex that intriguingly offers its residents a financial incentive for living there. The Jolly Maker complex, located in the upscale Cuffe Parade area of South Mumbai, reportedly distributes a sum of 2.5 to 3 lakh rupees annually to homeowners, rather than imposing monthly maintenance fees as is customary in most societies. This unusual arrangement was highlighted by real estate influencer Vishal Bhargav in a recent Instagram video, which described Jolly Maker as one of Mumbai's most prestigious towers.
In the video, Bhargav explained that rather than the residents having to pay for their living space, they actually receive a payout for living in this unique community. This model of financial remuneration creates a curious market dynamic. It not only challenges traditional notions of housing expenses but also raises questions about the sustainability and underlying economic models of such residential societies. The concept seems almost counterintuitive, similar to a high-end car manufacturer paying drivers to use their car, yet it reflects Mumbai's ongoing struggle with housing affordability.
As Mumbai continues to grapple with an escalating real estate crisis, developments like Jolly Maker highlight alternative approaches to attract residents, particularly in a city where the average person often cannot afford to own a home. This kind of incentive could potentially reshape how luxury living is perceived in Indian metropolitan areas, and prompt a reevaluation of real estate policies that govern maintenance and community living practices, particularly in high-demand locales.