Mumbai is known for its sky-high real estate prices, but a society in Cuffe Parade is making headlines for a claim that seems almost too good to be true. Jolly Maker, a premium residential complex, reportedly pays homeowners nearly Rs 2.5 lakh to Rs 3 lakh annually instead of charging them monthly maintenance fees.
The claim, highlighted by real estate content creator Vishal Bhargava on Instagram, describes Jolly Maker as a rare example where residents are not only homeowners but also beneficiaries of an income-generating commercial asset. According to the video, this financial structure ensures that the society’s expenses are fully covered while leaving a surplus that is distributed as dividends to homeowners.
Bhargava explains that the model originates from the 1970s when the builder offered buyers an opportunity to invest in a second commercial property at Nariman Point. Today, this building reportedly generates a rental income of Rs 50 lakh per month, which is used to fund the society’s maintenance costs and pay out annual dividends to residents.
The concept has drawn attention from industry leaders, including Paytm founder Vijay Shekhar Sharma, who shared the video on X and called the math behind it “true” and astonishing.
While India Today Digital has not independently verified these claims, the idea of receiving nearly Rs 3 lakh simply for living in one of India’s most expensive neighborhoods has captured public imagination. In a city where homeowners typically struggle with rising maintenance costs, Jolly Maker’s unique model, if accurate, presents a remarkable example of innovative residential finance.