Price Per Square Foot Is Easy. Real Value Isn’t.

Almost every serious buyer I meet - whether they’re purchasing their first home or upgrading after years - asks the same question within the first few minutes: “What’s the price per square foot?”

It’s a fair question. In a city like Mumbai, where real estate conversations often begin and end with numbers, price per square foot feels like the safest metric to rely on.

But after spending over two decades in this industry, I’ve learned something important: Price per square foot tells you what you’re paying. It doesn’t tell you what you’re actually buying.

What the number doesn’t reveal

Two homes can be priced at the same rate and deliver completely different experiences and outcomes.

Price per square foot won’t tell you:

• Whether the society is well-managed or constantly struggling with maintenance and disputes.

• If the developer has a reliable track record or a history of delays and unresolved issues.

• Whether the layout gives you usable, liveable space or awkward corners that look good on paper but don’t work in real life.

• How strong the resale or rental demand is in that specific micro-market, not the pin code but the exact street and building.

These details don’t show up in brochures. They don’t fit neatly into spreadsheets. But they often make the difference between a home that ages well and one that becomes a regret.

What experience teaches you

Over the years, I’ve seen buyers “overpay” on paper and still come out ahead because they bought into the right building, the right layout, and the right micro-market.

I’ve also seen buyers negotiate aggressively, get a “great deal” per square foot, and later struggle with resale, rentals, or everyday living.

The outcome rarely depends on the number alone. It depends on what was overlooked in the rush to lock the deal.

The better question to ask

Instead of stopping at “What’s the price per square foot?”, try asking:

• Why is this property priced the way it is?

• Who typically buys or rents here and why?

• How will this home perform five or ten years from now?

These are the questions that reveal long-term value, not just immediate cost.

Final thought

In Mumbai’s real estate market, numbers are easy to compare.Judgement is harder but far more valuable.

If you’re house-hunting and want advice that goes beyond rates and negotiations, towards clarity, context and long-term thinking - those are conversations worth having. And often, they start with asking the right questions, not just the popular ones.