'Move To Dubai, Get Golden Visa': Mumbai Flat Listed For Resale At Rs 8.5 Crore Sparks Disbelief
Many felt that Borivali's property rates didn't match the facilities available in the area, while some said it was better to move out of India.
A flat in Mumbai's Borivali listed for resale at over Rs 8 crore on a real estate website has sparked sharp reactions on social media as users expressed disbelief over the unrealistic price.
The details of the listing were shared by a journalist on X on Sunday, who said, "Borivali sells 5 BHK apartments for more than Rs 8 crore …can't believe....20 years ago, during my childhood: 2 BHK was available for Rs 15-20 lakh in Borivali and 5 BHK certainly didn't exist."
On real estate listing platform 99acres.com, most 5 BHK properties in Borivali can be seen priced at around Rs 7–8 crore. As the viral X post gained traction, many people expressed shock over soaring property costs in areas like Borivali, located in Mumbai’s western part. The place is about a two-hour drive from south Mumbai.
Many felt that Borivali's property rates didn't match the facilities available in the area, while some said it was better to move out of India.
"If you have Rs 8 crore, then it is better to move to Dubai. Start a company in a free zone. Get a two-year resident visa. Earn and pay zero tax, invest Rs 4.5 crore in property and get a golden visa. By the way, loan rates (in Dubai) are also down to 3.5%," a user suggested.
One of the users highlighted that properties in Malad, Kandivali, Borivali and Dahisar are in high demand. "Gujaratis investing their stock market gains tax-free here," the user implied.
"About 20 years ago, nobody wanted to move to Borivali because it was far," another said.
Another pointed to a similar situation observed in Kandivali. "Thakur village Kandivali has been selling 4 BHK at Rs 10 crore for a long time now," reads a comment.
While many social media users were shocked by the flat's high price, it isn't the most expensive property in Borivali, as per available records. In October 2024, a 4 BHK luxury apartment was sold for Rs 14 crore. The rate was Rs 56,000 per sq ft, according to property records seen by IndexTap.com, a Hindustan Times report mentioned.
