News: 513 Sq Ft Vile Parle Flat Sells for Rs 2.19 Crore-25-07-2026

A Mumbai homeowner has sold a 513 sq ft 2BHK in Vile Parle East for Rs 2.19 crore, well below the Rs 2.45 crore at which it was first listed, and says the experience shows the resale segment is now "a buyers’ market".

In a Reddit post, the owner said the flat was listed in March 2025 and the deal closed only in June 2026. The 21-year-old apartment is in a redeveloped building where his family were the original landlords and had been rented out for several years. It has a carpet area of 513 sq ft (around 620 sq ft usable), newly renovated interiors, a higher-floor location, no parking and few amenities other than automatic lifts and an intercom.

There were many enquiries but only three serious offers. Six brokers were showing the flat, yet the eventual buyer did not come through any of them, and the sale happened largely because of the buyer’s familiarity with the locality. The seller said the initial expectation was Rs 2.30 crore plus, while most offers were around Rs 1.90 crore to Rs 2.05 crore. The token was received last week and proceedings should close by mid-August, he wrote. He added that the market has slowed but genuine buyers remain, and that the real skill lies in drawing a buyer away from a new or under-construction project to a ready unit.

Real estate experts say this is typical of self-use resale deals, where neighbourhood familiarity and emotional comfort often outweigh investment considerations.

Size draws comments

A Bengaluru user called the flat a "matchbox" and said they had bought a 1,220 sq ft 2BHK for Rs 1.5 crore. A Delhi-NCR user said a 3BHK under 1,300-1,400 sq ft feels cramped there.

The seller replied that in the 2000s builders commonly understated area in agreements, so 513 was closer to 560, and that flower beds and storage ducts, once opened up, took the flat to about 620 sq ft, excluding one full balcony.

According to Knight Frank India’s March 2026 data, more than 10,000 properties are typically registered in Mumbai each month, about 80% of them residential. Nearly 40% of apartments sold have a carpet area of up to 500 sq ft, about 50% are 500-1,000 sq ft and 10% are larger.

This report is based on user-generated social media content that Hindustantimes.com has not independently verified.