Summary:
Along with the real-estate developers, the landlords too are facing the brunt of it. For apartment owners in Mumbai, however, things have only moved from bad to worse as rentals continue to slump further. Even as the lockdown started easing in June, it was seen that the rents in Mumbai had been trimmed by 15 to 20 per cent. Flexible and smart landlords however agreed to re-negotiate rents downwards for a limited period with their existing tenants. In locations like the suburb of Bandra that had often seen landlords take tenants for granted, this is an overdue correction..