`Mumbaikars can save Rs 4,600 crore annually by staying at right location`

Mumbai: Mumbaikars can save up to Rs 4,600 crore annually if they start living in locations that suit their working requirements, a survey has revealed.

According to a study conducted by property portal NoBroker, Mumbaikars, as a group, can save up to Rs 4,600 crore and commuting time worth 1.35 lakh years by staying at suitable locations.

"The financial capital of the country can significantly improve its commuting woes if its people start living in the right location that best suits their working requirements," the report said.

It said the city has a working population of over 78.2 lakh individuals, of which, over 62.5 lakh people commute to work at least five days a week.

"While a meagre 8 per cent are lucky enough to spend only up to 15 minutes to reach their workplace, nearly 12 per cent spend 15-30 minutes, while 80 per cent of the population spends more than 30 minutes while commuting to/from work," the survey revealed.

Apart from that, the megapolis also has one of the largest vehicle population in the country, with over 30 lakh vehicles plying on roads every day.

According to the report, nearly 1.41 million tonne of CO2, which is equivalent to 63 million trees, can be reduced by significantly cutting down on travel time to workplaces.

"Thus, it can be inferred from the survey that residing in the right location can go a long way in alleviating commuting hassles. It will also help in reducing the level of pollution in Mumbai in the long run," it added.