In a city where homeowners routinely pay substantial monthly maintenance charges, a residential society in South Mumbai has drawn attention for operating on a markedly different model — one in which residents do not pay maintenance fees and instead receive annual payouts.
The housing complex, known as Jolly Maker, is located in Cuffe Parade, one of Mumbai’s most expensive residential neighbourhoods. According to claims shared on social media, flat owners in the society receive an annual payment of approximately Rs 2.5 lakh.
The arrangement was highlighted in a video shared on Instagram by Vishal Bhargava, a content creator who focuses on real estate and infrastructure-related subjects. In the video, Bhargava described Jolly Maker as “one of the most prestigious towers of Mumbai” and stated that residents are paid by the housing society rather than being charged for upkeep.
“Get paid Rs 2.5 lakh to stay in this building in Mumbai. Yes, the building society actually pays the homeowner to live here,” Bhargava said in the video.
He added: “It’s so rich that owners don’t pay a maintenance fee to the society. Instead, the society pays every homeowner a dividend.”
In contrast to the high monthly charges typically associated with housing societies in South Mumbai, residents of Jolly Maker reportedly do not contribute towards maintenance costs. Instead, they receive a year-end payment described as a dividend, funded through income generated by the society.
Bhargava explained that the financial structure behind the arrangement dates back several decades. According to him, when the apartments were originally sold in the 1970s, the builder offered buyers an additional investment opportunity tied to another commercial property.
When the builder was selling apartments here
He gave an offer: Buy his other building at Nariman Point as well by paying 40% extra
That building today earns a Rent of 50 lakh rupees per month
Which is used for maintenance and paying back to the society.
“In the 1970s, when the builder was selling apartments here, he gave an offer. Buy his other building at Nariman Point as well by paying 40% extra.” Bhargava said. “That building today earns a rent of Rs 50 lakh per month, which is used for maintenance and paying back to the society.”
The post also prompted a response from Paytm founder Vijay Shekhar Sharma, who shared the video on X, formerly known as Twitter. Commenting on the claims made in the video, Sharma wrote: “You won’t belive this math! And it is true”.
The Instagram comments section saw a range of reactions from users. One commenter wrote: “I know about this. We used to stay close by. One of my school contact stays here. Nice place.”
Another said: “Good old-fashioned capitalism, market it and brand it the people will do the rest.”
A third user asked: “Haunted toh nahi (Is it haunted?)”.
Others expressed scepticism. “Math is not mathing,” one person commented.
The claims made in the video have continued to circulate widely on social media, prompting debate and curiosity about the financial structure of housing societies in Mumbai’s premium neighbourhoods. Meanwhile, Moneycontrol.com could not independently verify the authenticity of the claims.
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