What are the property rates in Mumbai?
Mumbai, India’s financial capital, continues to see strong real estate demand, with property rates expected to rise steadily in the coming years. Growth is being driven by large infrastructure projects such as the Navi Mumbai International Airport and the Mumbai Trans Harbour Link (MTHL). Property prices vary widely by location. In areas like Thane, residential rates typically range from Rs. 6,000 to Rs. 14,500 per sq. ft., while South Mumbai remains among the most expensive markets, with prices starting around Rs. 27,000 per sq. ft. and going up to Rs. 57,000 per sq. ft. This wide range reflects Mumbai’s diverse localities, employment opportunities, and strong infrastructure support.
Property rates for residential apartments in Mumbai
The following are the price distributions according to areas in Mumbai:
Region |
Price Range (per sq. ft.) |
Key Localities |
South Mumbai |
Rs.46,000 - Rs.1,00,000+ |
Malabar Hill, Cuffe Parade, Worli |
South West / Bandra |
Rs.30,000 - Rs.47,500+ |
Bandra (W), Juhu, Santacruz (W) |
Central Mumbai |
Rs.17,000 - Rs.32,000 |
Dadar, Parel, Wadala, Chembur |
Western Suburbs |
Rs.17,000 - Rs.29,000 |
Andheri (W) , Borivali (W) , Goregaon |
Navi Mumbai |
Rs.7,500 - Rs.15,800 |
Vashi , Kharghar, Ulwe, Panvel |
Thane Region |
Rs.6,000 - Rs.14,500 |
Ghodbunder Road, Majiwada, Thane West |
Extended Suburbs |
Rs.3,000 - Rs.8,000 |
Mira Road, Virar, Badlapur, Kalyan |
From these price rates, buying property in Mumbai is a very expensive undertaking. However, with a Bajaj Finserv Loan Against Property, you can leverage a self-owned asset and buy a property in Mumbai affordably. This is mainly possible because you enjoy competitive loan against property interest rates with this instrument, and can opt for a convenient tenor that ranges up to 15 years*.
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Related Property Rates in India
FAQ
Property rates in Mumbai are generally increasing, supported by strong demand, limited land availability, and major infrastructure upgrades. While short-term fluctuations may occur, the long-term trend remains upward across most residential and commercial locations.
Average residential property rates in Mumbai vary by location. Suburban areas typically start from around Rs. 6,000-10,000 per sq. ft., while premium locations in South Mumbai can range between Rs. 27,000 and Rs. 57,000 per sq. ft.
Infrastructure projects such as metro expansions, the MTHL, and the Navi Mumbai Airport improve connectivity and accessibility. This increases demand in nearby areas, often leading to higher property values and improved long-term investment potential.
Mumbai faces limited land supply alongside consistently high demand driven by employment and migration. This imbalance keeps property prices elevated and supports steady appreciation, especially in well-connected and developed neighbourhoods.
Mumbai has some of the highest property rates among Indian metro cities. Compared to Delhi, Bengaluru, or Hyderabad, Mumbai’s prices are significantly higher due to land scarcity, strong economic activity, and sustained housing demand.
