u/juvenile_jack

[removed]

We are Mumbai-based landlords with multiple flats that we give on rent. Most recently, we had put one of our 2BHK in Vile Parle East for sale. Some context:

Age of Property: 21years (redeveloped in 2006, we are original landlords of the building)
Size of apartment: 513 sq ft (as per agreement, super built up and usable area makes it around 620 sq ft+)
Parking: None
Higher floor
Not many amenities in building except for automatic lifts and intercom.
Newly done up interiors
Location: Vile Parle East
Quoted price: 2.45Cr
Sale price. 2.19Cr

We had put this flat on the market since March 2025 and only in June 2026 did we finally make the sale. Multiple enquiries came in every week since the last year but only 3 buyers made serious offers. We are fairly happy with the number.

Few learnings:
- 99acres and Magic Bricks worked for us despite me not spending a single penny on membership / upsell tactics.
- The eventual buyer we settled on found us on 99Acres and turned out to be someone who I played cricket with in the locality when we were kids.
- Despite having 6 brokers who were actively showing the flat to clients, the person we sold to didn’t come through a broker and the sale happened more because of familiarity. This is common in self-use resale deals, I’ve noticed. Even the last 2BHK we sold in the area was to tenants who fell in love with location + the flat they were renting and decided to make an offer. No matter how good a broker, they can’t manufacture trust and familiarity in a deal.
- The market has definitely slowed down but there are still genuine buyers out there. Luring a buyer from buying a new / under construction project to a ready-to-move unit is the real skill needed.
- We were going to close with someone at 2.03Cr in May but the higher offer came because the buyer is Jain and the Derasar is right opposite the building. Never underestimate the part that religious sentiment plays in these deals.

Curious to know what others feel. When we first put this on sale back in March last year, the expectation was 2.30Cr+ but most offers we got were in 1.90 to 2.05Cr vicinity. Definitely a buyers market right now. Grateful we received the token last week and are on course to close all proceedings by mid-August.

Edit: lots of flabbergasted replies on the 513 sq ft 2BHK. Please understand that this was common during the 2000s where the builder would underplay the square footage on the agreement so 513 was anyway closer to 560. Plus they would pad up the flat with flower beds, storage ducts etc which when opened up make it well over 600 sq ft. At last measure, flat was somewhere in the 620 sq ft vicinity. (This is without taking in one full balcony)