If you think that buying a house is difficult only for the middle class, then think again. Buying a house in a city like Mumbai is a dream even for the top 5% rich families of the country, which may take them more than a lifetime to fulfill.

According to a report by the Times of India, the top 5% urban families of Maharashtra will have to save for about 109 years to buy an average size (1,184 square feet) house in Mumbai. Not only this, the top rich families will be able to buy a house only after saving for 63 years in Gurugram, Haryana and 50 years in Bhubaneswar, Odisha.

How was this estimate made?

The report compared the price of an average-sized house (1,184 sq ft) in the state/union territory capital with the income of the top 5% people in the urban area of ​​that state to find out how many years of savings it would take to buy a house.

For example, the monthly per capita consumption (MPCE) of the top 5% urban households in Maharashtra is Rs 22,352.

The total income of a family of four members is: Rs 89,408 per month or Rs 10.7 lakh annually.

Also read: Mumbai most affordable in 15 years, still residents spend 48% monthly income on EMIs: Knight Frank

Assuming India’s gross savings rate of 30.2%, the annual savings of this income group is estimated to be around Rs 3.2 lakh.

At the same time, according to NHB data, the average house price in Mumbai in March 2025 was Rs 29,911 per sq ft. That is, a house of 1,184 sq ft will cost more than Rs 3.5 crore.

Thus, a family saving Rs 3.2 lakh annually will take 109 years to buy this house.

Where is the easiest and where is the most difficult?

Chandigarh turned out to be the most affordable capital city in the country, where a 1,184 sq ft house can be bought in just 15 years of savings.

Jaipur is another city where the dream of buying a house can be fulfilled in less than 20 years.

But in 10 of the 21 state capitals, more than 30 years of savings are required to buy a house.

Also read: Rate cut unlikely to boost affordable housing

Why are house prices so high?

Experts believe that residential house prices have risen rapidly due to a shortage of land in major cities, an ever-increasing population, rising investment trends, and uncontrolled real estate.

In cities like Mumbai, paying rent is a challenge for common people – buying a house there is now becoming a matter of the super-rich.

If you are planning to buy a home, it is important to understand that a practical plan can be made only after combining your income, savings capacity and loan eligibility.