”Would Retail In Mumbai For Rs 5 Crore”: Capitalmind CEO On Amazon’s Foldable Home

A TikTok user in the United States recently bought a foldable house on Amazon worth $26,000 (Rs 21.3 lakh), following which videos of such homes have been cropping up on social media. Notably, several people in the US have been buying such tiny homes online, as an alternative to rising rents and sky-high house deposits.

The new-age homes have sparked a debate on social media, with some people calling it a ”waste of money”, while others loved the idea of purchasing it. One X user called it a ”glorified shipping container.” On Tuesday, Capitalmind CEO Deepak Shenoy too dived into the debate and imagined what would happen if these houses were being sold in Mumbai, a city known for its high real estate prices. 

”This would retail in Mumbai for at least 5 crores each and you still won’t be allowed to cook non-veg in them,” he wrote, taking a dig at the foldable house. Notably, Mumbai is a major economic center in India and attracts a large number of people for work and business, leading to a high demand for housing. 

Here is the post:

This would retail in Mumbai for at least 5 crores each and you still won’t be allowed to cook non veg in them https://t.co/HXnpmA7HkJ

— Deepak Shenoy (@deepakshenoy) February 6, 2024

Mr. Shenoy’s quip led users from India to further speculate about the future of such houses in Mumbai, where there is a shortage of land. Meanwhile, some people were still trying to wrap their heads around the unusual concept. 

One user wrote, ”Nah much more. U first need land to place it. Show me that first. Maybe 5 crores if you can have it stacked to 10 levels.”

Another commented, ”I thought it is some kind of joke. But it is really a pre-fabricated house in different sizes.”

A third wrote, ”Where would you put it though. Cost of land has to be factored in.” A fourth added, ”The land to keep these containers will cost in crores in Mumbai.” A fifth said, ”And let’s not forget how flooded these would get every single monsoon.”

According to Metro, the house is a fold-out flat measuring 16.5ft by 20ft, worth $26,000 (Rs 21,37,416). The tiny flat comes with a built-in shower and toilet, a kitchenette, a living area, and a bedroom.