What a property returns as rent, after the costs of holding it.
Rental yield depends on the rent actually achievable, vacancy, maintenance and taxes. This is a simplified estimate, not a projection.
Gross yield ignores every cost of ownership. Net yield is the figure worth comparing against other investments.
Residential rental yields in Mumbai and MMR are typically low relative to the capital value; most of the return, if there is one, comes from price appreciation rather than rent.
Society maintenance, property tax and periods between tenants are the costs most often left out of a yield calculation.