News: Mumbai, Bengaluru Flats vs London, New York Prices-11-05-2026
Rising home prices in India’s big cities have set off another round of online comparisons with housing abroad, with users asking whether flats in Bengaluru and Mumbai have become too costly relative to what people earn.
The latest thread began with an X post by Neha Sharma. She wrote that in Bangalore she and her partner struggled to buy a flat on two salaries and eventually cancelled it, whereas two years after moving to the UK they bought an independent three-bedroom house with a backyard, good views and parking "on 1 person’s salary". The post struck a chord with young professionals dealing with high prices, rising EMIs and smaller apartments.
Another X user claimed a 2BHK in Mumbai costs around Rs 3 crore, nearly 15 times the average annual salary, while a comparable home in New York costs about Rs 4.75 crore, roughly five times annual income.
In Bengaluru, prices depend heavily on locality, said Kiran Kumar, vice president of Hanu Reddy Realty. Koramangala is around Rs 18,000 per sq ft, so a 1,100 sq ft flat starts at nearly Rs 2 crore. Indiranagar can touch Rs 20,000 per sq ft, putting flats at Rs 2-3 crore. HSR Layout, Malleshwaram and Sadashivnagar are also expensive, at Rs 2-2.5 crore per sq ft and above, he said. The few premium projects near MG Road cost upwards of Rs 25,000 per sq ft, taking prices past Rs 3 crore, and uber-luxury developments there can cross Rs 6-8 crore.
In the north, Hebbal is at Rs 12,000-15,000 per sq ft, or around Rs 2 crore for a typical 2BHK. Prices drop to about Rs 1.5 crore towards Yelahanka and around Rs 1 crore in Devanahalli near the airport, which Kumar attributed to higher supply and distance from the centre. In the south, JP Nagar and BTM Layout are around Rs 2.5 crore and Jayanagar Rs 2.5 crore to Rs 3 crore. Brokers said newer flats in Whitefield are generally Rs 2.5-4 crore, with smaller developments at Rs 1.5-2 crore. Around Hope Farm, Bellandur and Sarjapura, the range is Rs 1.5-2.5 crore, Kumar said.
In premium London neighbourhoods, listings showed 2BHK apartments on Mansfield Street and nearby at upwards of Rs 56 crore, one on Marshall Street at about Rs 20 crore and one in Mayfair at Rs 13 crore. Duplex 2BHK homes near Chelsea can command nearly Rs 13 crore. In the suburban borough of Barnet, 2BHK homes are listed at around Rs 14 crore, and in Oxford, outside London, at roughly Rs 6-10 crore.
In New York, two-bedroom apartments in parts of Brooklyn and Queens may range from $600,000 to $1 million (approximately Rs 5 crore to Rs 8.5 crore). Listings on Savills’ website show a 2BHK in Yorkville, on Manhattan’s Upper East Side, starting at Rs 9 crore and going beyond Rs 20 crore. In Brooklyn the minimum listed is Rs 9-10 crore, rising to Rs 30 crore. Listings overlooking Central Park reach Rs 61 crore, and a 2BHK at 151 East 58th Street is listed at Rs 51 crore.
The viral Rs 3 crore versus Rs 4.75 crore comparison therefore oversimplifies matters, since central New York is far costlier in absolute terms. Experts say the affordability gap comes from incomes: salaries in New York are substantially higher than in Indian metros, so the price-to-income ratio is less stretched.
In Mumbai, brokers said 2 BHK flats in South and Central Mumbai, the costliest region, are priced between Rs 3 crore and Rs 10 crore in areas such as Malabar Hill, Breach Candy, Lower Parel and Prabhadevi, depending on age and location. These markets draw HNIs and NRIs. The western suburbs, such as Bandra, Andheri, Goregaon and Borivali, see the highest transaction volumes, with 2 BHKs typically at Rs 2 crore to Rs 6 crore. Across the western and eastern suburbs the range is Rs 1.5 crore to Rs 6 crore, brokers said.
This report is based on user-generated social media content that HT.com has not independently verified and does not endorse.
