Bustling Rental Market in Chembur

The once industrial suburb of Mumbai, Chembur is now thriving with real estate and infrastructural development. Chembur is an old Mumbai suburb, situated at the north of Trombay and south of Kurla, history dates back to the partition era of India’s independence when many refugee camps were set here. It now sits right in the middle of Mumbai, geographically. The real estate market trend that stands out in major urban cities is experiencing a considerable shift in the last one and a half decade. Chembur’s upcoming residential projects are mostly set over smaller plots due to lack of availability of land. But a lot of lands is being redeveloped and some projects are using that huge space to their advantage. We also saw development in clusters of different upcoming projects in the same area.

Chembur is very well connected to southern, old and Navi Mumbai and other suburbs around Mumbai by excellent road connectivity. Kurla and Lokamanya Tilak terminus being the prominent railway junctions near Chembur, the locality is otherwise very well connected by auto rickshaws, buses, taxis etc. Dayanand Saraswati Marg, V N Purav Marg, R C Marg, Station Avenue Road, the Eastern Express Highway and Sion Panvel Highway are some of the arterial roads of Chembur. Chembur is a road transit point for people traveling to Pune using the Mumbai-Pune Highway or the Mumbai-Pune Expressway. The Eastern Freeway provides quick access to South Mumbai through 13 km long elevated expressway. The Santa Cruz-Chembur Link Road (SCLR) connects Chembur to Santa Cruz.

Real estate development along the Eastern Freeway increased significantly over the past few years. Cutting down commuting time to South Mumbai created demand for commercial and residential properties and housing prices in locations like Chembur. The value of property in Chembur has increased by approximately 28-30 per cent over the last two years. This created a lot of market for rental properties in Chembur. As the property values kept increasing the rental market also proportionally went up and with so many new developments coming up, it is only adding to the inventory list. The housing supply in this area has been growing at an approximate rate of 10 per cent for the past four years, and it now accounts for approximately 18 per cent of Mumbai’s total housing stock. With growing residential activity, retailer interest in the market has understandably increased too, leading to the development of large scale organized retail in the region.

This further attracts more jobs and more people move into this locality in search of properties. The rent for a 250 sq ft, 1BHK is about Rs.9000 per month, a 350 sq ft unit can be rented for Rs.10,000 per month. Semi furnished and fully furnished apartments are also available. However, semi-furnished may often mean the property is sparingly furnished. Renters have used their discretion to decide on a correct property in this vast property market. Realtors say that with increased connectivity, there are more inquiries for properties in Chembur. The increase in rental properties in Chembur market was noted as about 3% in the past few years.

Serviced Apartments Are the Trend of the Times

Serviced Apartments are basically the fully furnished apartments that are made available to the public for short term and long term stays. It includes various amenities like housekeeping and various different services for the guest and the taxes are included in the rental price itself.

These types of apartments offer the guest much like the services and amenities of a traditional hotel, but with some added convenience, space and privacy like at home. One can enjoy the feeling like living at home while travelling somewhere.

What can one expect from a serviced apartment?

• A kitchen that is fully equipped with things like a dishwasher, dryer
• One or more individual bedrooms designated as sleeping area
• Living space
• Bathroom with all the amenities
• Television
• WiFi
• All the latest in room technology
• All utilities like the water, electricity included
• Weekly or daily housekeeping service

This term the serviced apartments is little known and used outside the corporate business sector. The online booking sites, mostly used to offer them as one of the booking options and not under a special category. These kind of apartments give the guest the kind of home feel by offering certain facilities that may give the guests the personal feeling of staying at home. They should include along with the above mentioned facilities also access to the gym, restaurants, meeting space, and other hotel like service for making the guest feel comfortable.

This sector has an impact on leisure travel as the travelers are finding these as the cheapest and best alternatives to the high end costly hotels. These are treated as economical for longer stays, family trips. These can give you all the in house facilities and entertainment and thus allowing you to live like a local in an outer place.


Serviced Apartments:

These are the self contained apartments usually built within a building. There may or may not be the staff on site. The operator may offer keys on arrival to the guests or may also provide keyless entry access through smartphones as well. Guest can access a 24 hour helpline.


These are the kind of apartments that can be seen in a dedicated building. These apartments offer hotel like services with 24 hour reception.

Corporate Housing:

It is basically a fully furnished house that is made available for rent or lease for a certain period of time. These kind of accommodations offer the visitors the more like a normal living, allowing them to cook, relax, plan their time as they like.

The ACA and Where We Are Now

Over the last several years there have been unprecedented rate increases on nearly all Affordable Health Care Act policies (ACA). Losses have been accumulating over the last few years, and currently there is no way to stop the bleeding. However, this is the first year that real change has come to the health care market. The good news is viable options do exist and most people are not aware that they are encouraged to look outside the box. Adaptation is key in our nation’s changing healthcare system.

In 2010 the Federal Government passed our first mandated health insurance plan for most citizens under the age of 65. These changes came about from both unregulated healthcare practices and a promise to help those who could not afford insurance, or did not qualify for a plan because of health issues. Funding for this venture was redirected from the social security administration and other facets of government with restrictions how health care providers (insurance companies) could redirect the profits. The goal of this plan was to eliminate bad practices and corruption in order to help the greater good. The mandate also eliminated the practice of underwriting (verifying the prospects health to render an approval), deeming it discriminatory. The belief was that if enough people signed up for the new mandated insurance it would offset the risk of no underwriting. The powers that be were wrong.

Many healthy citizens didn’t welcome the higher premiums for a couple of reasons. Some saw this mandate as forced insurance that was against their constitutional rights. Others saw their premiums go up because of the mandate and were not willing to pay the extra cost for the greater good. Because most of these Americans decided to “self-insure” instead, or go without insurance, the system was financially doomed out the gate.

In order to cope with the losses, the participating insurers (virtually every health insurance giant in the US) starting restricting networks to the point of creating nationwide HMOs that provide little, if any, coverage outside of small networks. They also drastically raised deductibles in an attempt to help control the costs. When both of these strategies failed, as a last resort, they started increasing annual premiums to unfathomable levels, with some individuals seeing rate hikes of over 60%. Today, many ACA insurers are projected to increase their premiums by an average of over 25% for 2018, with no end in sight. In Texas, on the exchange (Healthcare.gov), the only original health insurance company left standing is Blue Cross Blue Shield. All of the others (Humana, Scott and White, Aetna, and United) have all left the state, as well as in many other states, to protect themselves from continuous losses.

Changes have already gone into effect that will permanently alter the healthcare platform. In January of 2017, the newly elected president issued an executive order to all facets of the Federal Government to not enforce any ACA mandates for any individual, business, or entity. With a republican house and senate, President Trump knew it was just a matter of time before the mandate was eliminated and wanted to give Americans open-ended options without the threat of a penalty. Whether or not the ACA continues remains to be seen. In my opinion is highly unlikely that Obama-care will be the front-runner moving forward.

Up until January of this year, secondary (term issued by the Government for those health insurance companies that would not comply with the mandate) health insurance options that refused to offer the mandated insurance had to tiptoe around the new law of the land. The Federal Government did not welcome competition and restricted certain coverages these companies offered. In order to move forward, many of these companies had to offer hybrid packages that did not resemble the mandated norm. Only a few of these companies stood on the sidelines at the start of the ACA, watching the majority of their existing book of business exit and go across the street. In fact, many of these secondary solutions ended up failing. The few that perservered haven’t encountered the losses that the ACA giants saw first hand. They stood by the belief that it wasn’t possible to eliminate underwriting and control costs simultaneously, and they were right. Today, these secondary health insurance companies are welcomed with open arms by many who do not receive a subsidy (premium credit issued by the Federal Government for those with lower income) and have absorbed the huge rate increases over the past few years. Outside of the ACA, they are the only plans with both affordable premiums and unrestricted networks. Furthermore, they haven’t been exposed to any non traditional annual rate hikes, unlike ACA plans.

There is no way to tell what the future holds with the health care industry, just a promise of change. Our current healthcare arena has arguably spurred the most controversial subject in US history. The country is divided on the differing philosophies of either compassion for the poor and sick or the necessity to stop billion dollar losses that continue to mount. Regardless of the outcome, it is evident that every citizen holds an obligation to explore options freely for their individual or family needs. Thanks to the executive order, there are now options available without the threat of a financial penalty.