For Bengaluru entrepreneurs reeling from high rent, advice from Shark Tank judge

For those voicing traffic concerns in Mumbai, Anupam Mittal said the coastal roads and metro railways would soon resolve it.

Shark Tank India's Anupam Mittal has an advice for entrepreneurs in Bengaluru reeling from high rent: 'Build in Mumbai instead'. The Shaadi.com founder added that the city has consistent and vibrant startup ecosystem.

Mittal's tweet was a reaction to reports of landlords in Bengaluru having doubled their rents as the demands for houses surged in the last one year. The city beat financial capital Mumbai to become India's hottest residential market, according to data from market researchers.

Build in Mumbai instead … consistent, vibrant & magical @mumbai_tech_ https://t.co/dR1wkSHc54

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— Anupam Mittal (@AnupamMittal) April 5, 2023

For those voicing traffic concerns in Mumbai, Anupam Mittal said that the coastal roads and metro railways would soon resolve it. But not everyone was convinced on Twitter.

"Does Mumbai have any new space left... expansion here is on vertical mode unlike cities like Pune where separate pockets from each corner are being developed... plus real estate rates in Mumbai are way ahead than other cities," commented Prashant Paleja (@caprashant1).

Twitter user Chaitanya Mehta (@cmehta85) said, "Big fan of Mumbai, Anupam Mittal, but the rents are just crazy to attract tech companies and talent in droves. We need an SEZ that provides amazing tax incentives to tech companies along with subsidized employee housing in the same vicinity!"

Bengaluru is home to over 1.5 million workers including those for global firms like Google, Amazon, Goldman Sachs, and Accenture. That population was displaced during the pandemic, with staff moving to remote work or departing the city, pushing rents down. With Bengaluru’s economy and private sector stirring back to life, landlords are looking to recoup lost revenue and find themselves in a seller’s market, Bloomberg reported.

Read more: Bengaluru realty logs in 100% surge in rents as techies fight for flats