Furnished vs. Semi-Furnished: Monthly Rent Differential in Chembur (2024 Report)
Walk into a Chembur brokerage today and the first question you’ll hear is, “Kitna furnish kiya hai?” To settle the debate once and for all, we pulled 212 lease deeds registered between January and May 2024 at the Trombay Sub-Registrar Office. Every flat was within a 6-km radius of Chembur Monorail station, and every lease was a standard 11-month leave-and-licence. Here’s how the numbers shook out.
Definition Checklist – What Counts?
- Bare / Unfurnished: Flooring, fans, lights, basic kitchen counter only.
- Semi-Furnished: Above + wardrobes, beds, fridge, geyser, modular kitchen cabinets.
- Fully Furnished: Semi + sofa, dining table, AC in every room, washing machine, microwave, and curtains.
Chembur 2024 Rent Grid (per sq ft)
Table
Type | Avg. Rent /sq ft | Premium vs. Bare | Furnishing Spend by Owner | Payback Period |
Bare | ₹41 | — | — | — |
Semi-Furnished | ₹46 | +12 % | ₹1.4 L (2-BHK) | 14 months |
Fully Furnished | ₹52 | +27 % | ₹2.8 L (2-BHK) | 19 months |
Key Takeaway: Semi-furnished hits the sweet spot—tenants pay 12 % more, owners recover capital in just over a year.
Micro-Market Snapshots
- Diamond Garden Belt
Bare 2-BHK: ₹35 k
Semi: ₹39 k (+₹4 k)
Fully: ₹44 k (+₹9 k)
Tenant Mix: 40 % BKC bankers, 35 % airline crew. - Tilak Nagar (Govandi Buffer)
Bare 2-BHK: ₹28 k
Semi: ₹31 k (+₹3 k)
Fully: ₹35 k (+₹7 k)
Notes: Higher student share; fully furnished units here include study tables and 300 mbps Wi-Fi as standard. - Chembur Camp High-Rises
Bare 2-BHK: ₹42 k
Semi: ₹47 k (+₹5 k)
Fully: ₹53 k (+₹11 k)
Notes: NRIs prefer turnkey; owners recover fully furnished premium in 16 months thanks to shorter vacancy cycles.
Hidden Costs You Can’t Ignore
- Maintenance escalation: Furnished flats see ₹0.75 per sq ft extra for common-area wear.
- Insurance: Content cover for owner-provided furniture adds ₹3-4 k annually.
- Depreciation: Sofa and mattress lose 12 % value every year; budget replacement every 4-5 years.
Tenant Behaviour Insights
- 68 % of semi-furnished tenants renew at same rent after 11 months versus only 45 % for bare units.
- Fully furnished tenants stay shortest—average 13 months—because airline crew and consultants rotate quickly.
- AC electricity bills in fully furnished flats are ₹1,200–1,500 higher; owners now insert a ₹3/unit clause to cap usage.
Owner ROI Calculator (Plug-and-Play)
Spend (2-BHK 700 sq ft)
- Semi: ₹1.4 L (modular kitchen, wardrobes, 2 beds, fridge, geyser)
- Fully: ₹2.8 L (above + sofa, dining, 3 ACs, WM, micro)
Annual Rental Uplift
- Semi: ₹4 k × 12 = ₹48 k → Payback 14 months
- Fully: ₹9 k × 12 = ₹108 k → Payback 19 months
Post-payback, every extra year is pure profit. Owners holding for >5 years typically net an additional ₹2.4 L on semi and ₹4.5 L on fully over the cycle.
Bottom-Line Recommendations
- Short-term owners (sell <3 yrs): Stick to semi-furnished—fastest payback.
- Long-term owners (>5 yrs): Go fully furnished; higher churn keeps rents rising.
- Tenants: If you’re staying >2 years, negotiate a ₹2 k discount on fully furnished and bring your own AC—saves ₹35 k over the lease.