Authors:-Assistant Professor Mr. Sabir Nasir Mujawar
Abstract- Mumbai’s housing market is facing an acute affordability crisis, with rental costs far exceeding sustainable income levels for a significant portion of the population. This study examines the extent of rental burden and its impact on the financial stability and quality of life of Mumbai’s residents. Using primary data collection, including online surveys and interviews with 300+ respondents, the research quantifies the proportion of income spent on rent and identifies key challenges in accessing affordable housing. The study further explores sustainable living solutions, such as co-living spaces, micro-apartments, and policy interventions, to mitigate the crisis. A core hypothesis tested in this research is whether rental costs exceeding 30% of income significantly increase financial stress. Statistical analysis, including t-Tests and Regression Analysis, is applied to validate the relationship between rental burden and compromised living conditions. The findings provide actionable insights for policymakers, urban planners, and real estate stakeholders, emphasizing the urgent need for innovative and sustainable housing solutions. By addressing both the economic and human impact of Mumbai’s housing crisis, this research contributes to a deeper understanding of urban affordability challenges and offers potential pathways for a more inclusive and sustainable housing market.
DOI: DOI:10.61463/ijnrefm.vol.3.issue2.102
