New Delhi, June 24 -- Even Maharashtra's highest-income households are finding homeownership in Mumbai increasingly out of reach. According to a recent analysis cited by the Times of India, even the top 5% of earners, those with average monthly household incomes of Rs.10.7 lakh, would need to save for 109 years to purchase an average-sized home in India's financial capital.

The study combines data from the National Housing Board (NHB) with urban income estimates to calculate affordability across 21 state capitals. For Mumbai, with an average per-square-foot rate of Rs.29,911 as of March 2025, a standard 1,184 sq. ft. home is priced at around Rs.3.54 crore. With the top 5% households in the state saving approximately Rs.3.2 lakh annually ...