Is it financially prudent for someone working for a decade in a T1 to buy an apartment in South Mumbai near their office? What do the partners who are working in T1 do? Buy homes or rent throughout their lives?
Buying property (or for that matter, any investment) is a very personal decision and not a path you should follow just because others have. See if this fits in your scheme of things - maybe discuss with a financial advisor.
Buying a house (especially in Mumbai) is a not the most financially wise decision one can make, if seen purely from a finance perspective. A simple back of the envelope calculation will show you that renting is far cheaper than buying. However, a lot of people still buy for reasons such as securing an asset for the family, a steady place to live and the mindset of having ones own home.
Places like Santacruz, Byculla and Andheri make sense. Splurging near office is a bad idea at a senior level when you can easily commute by private vehicle and reach office a little late tbvh.
Ps: serious answers only.
Buying a house (especially in Mumbai) is a not the most financially wise decision one can make, if seen purely from a finance perspective. A simple back of the envelope calculation will show you that renting is far cheaper than buying. However, a lot of people still buy for reasons such as securing an asset for the family, a steady place to live and the mindset of having ones own home.
Also, some partners buy and some rent.