'₹1 crore for a parking slot?': IVF specialist’s post exposes South Mumbai’s property reality

What can ₹1 crore buy you in India? A luxury flat in Chennai, a plush villa in Ahmedabad—or if you’re lucky enough to live in South Mumbai, just one parking slot. 

According to renowned IVF specialist Dr. Aniruddha Malpani’s recent post on X, developers in South Mumbai are now selling car parking spaces for ₹1 crore—a claim that seemed absurd until it wasn’t.

While that sparked disbelief online, industry insiders nodded in grim agreement: in Mumbai’s gilded towers, parking has become the new property gold.

Though the ₹1 crore tag isn’t standard, it’s no anomaly either. In rarefied luxury enclaves like Worli Sea Face and Samudra Mahal, it’s been documented—especially when paired with ₹100 crore penthouses or duplexes. In most upscale projects across South Mumbai, the average covered parking space still goes for ₹25–₹60 lakh, depending on exclusivity, security features, and location. Developers know they can charge this because demand so vastly outstrips supply.

One X user unpacked the illusion: buyers are lured by relatively reasonable rates of ₹20,000 per sq ft, only to be hit with a “computation sheet” packed with hidden costs—per floor premiums, registration, GST, UDS (undivided share), car park, water, EB, sewage, and even amenity surcharges. 

By the time you're through, your ₹5 crore apartment becomes a ₹6.2 crore package, and yes—parking may be a separate six-figure line item.

Why so expensive? It’s a brutal cocktail of scarcity and privilege. South Mumbai is landlocked, overbuilt, and impossible to expand. There are simply too many luxury cars, too few secure parking spots, and zero new land parcels for relief. And in a city where space defines status, a reserved covered slot becomes not just a necessity but a flex. 

The result: developers treat parking like premium inventory and price it accordingly.

Compare this with other metros: In Bandra, a slot sells for ₹5–₹20 lakh. In Delhi’s Lutyens zone, ₹4–₹15 lakh. In Bengaluru’s Whitefield and Koramangala, ₹3–₹12 lakh. In Ahmedabad or Kolkata, as little as ₹2.5 lakh. Even monthly rentals tell the story—South Mumbai commands ₹10,000–₹15,000 a month for parking alone, enough to rent a studio flat in most Tier-II cities.