'Build in Mumbai': Shark Tank judge Anupam Mittal advises Bengaluru entrepreneurs amid soaring rents

The struggles of finding a new place in India's technology hub of Bengaluru is almost known to everyone by now, given the number of stories flooded across our social media platforms on soaring rents.

Now, Shark Tank India's Anupam Mittal has reacted to the rising rents in what is referred to as India's Silicon Valley. In a post on Twitter, the Shaadi.com founder has advised entrepreneurs to 'build in Mumbai instead'.

Reacting to reports of landlords having doubled their rents in Bengaluru, Mittal said, "Build in Mumbai instead.. consistent, vibrant and magical".

However, not everyone seemed convinced with the idea, as many voiced concerns over a similar situation in Mumbai as well, especially in terms of traffic. To this, Anupam Mittal said that the coastal roads and metro railways would soon resolve it.

"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," said a user.

"Doubled rents in Bengaluru are still cheaper than Mumbai," added another.

Another Twitter user stated, "Big fan of Mumbai @AnupamMittal 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!"

Some even mentioned that there are many tier 2 cities as well which provide equally good quality of life and can be considered as an option.

The capital of Karnataka state is home to over 1.5 million workers including those for global firms like Alphabet Inc.’s Google, Amazon, Goldman Sachs, and Accenture, among others.

The population was largely displaced during the pandemic with many of them moving to their hometown. However, as work from office resumes, most people have or are returning back to the city, thereby pushing the rents higher due to increased demand.  

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