What is the process of buying property in Mumbai?

The process of buying property in Mumbai can be complex and daunting due to the city's skyscrapers and dream city atmosphere. To ensure a smooth and secure home-buying process, it is essential to follow five crucial legal tips. Verify the Title and Ownership of the Property Examine the Sale Agreement Thoroughly Check for Necessary Approvals and Clearances Review the project description and details on the RERA website Understand the Property’s Tax Liabilities

Home Blog Guides

Property Rates in Mumbai 2025 I Investment Options

Author: Houssed | Posted on: 11-Feb-2025

Mumbai is the hub for financial, commercial, and entertainment in India. Being an integral part of the country’s economy, it contributes over 6% to GDP.

Furthermore, the city continues to attract investors and businesses due to its strong industrial demand. The rental yield ranges between 2% and 3%. As a metropolitan city with high demand for residential and commercial spaces, property prices in Mumbai consistently remain on an upward trend.

So, are you looking to buy a living space in Mumbai? This comprehensive guide highlights the property rates in Mumbai in prime localities.

Breakdown of Property Rates by Different Regions of Mumbai

1: South Mumbai

South Mumbai is one of the most demanding residential areas, with rising property rates in Mumbai, driven by high demand and safety, as well as prime locations like Malabar Hill, Charni Road, and Matunga.

Excellent connectivity, including Charni Road railway station, reputed schools like Edubridge International, and top healthcare facilities like Ursekar Eye Clinic, further boost real estate value.

The average cost of the premium projects ranges between Rs. 58, 000 and Rs. 88,000 per sq ft. However, mid-segment properties are priced at Rs. 45,000 to Rs. 55,000 per sq ft. There are also further affordable options which lie in the range of Rs. Rs. 27,000 to Rs. 45,500 per sq ft.

2: Western Suburbs Mumbai

Property rates in Western Mumbai have seen significant appreciation in areas like Sambhaji Nagar (90.9%), Ambivali (70.5%), and Bandra Kurla Complex (65.1%) over the past three years. Prices are influenced by factors such as infrastructure growth, demand-supply trends, economic conditions, and proximity to key amenities.

Premium properties are priced between Rs. 32,000 and Rs. 62,000 per sq ft, while mid-segment properties range from Rs. 26,000 to Rs. 32,000 per sq. ft. Affordable housing options fall between Rs. 14,000 and Rs. 25,000 per sq ft.

3: Eastern Suburbs Mumbai

Mumbai Eastern Suburbs, extending from Mulund to Trombay, is a group of suburban neighbourhoods east of Mumbai's central business district, including popular areas like Chembur, Ghatkopar, Mulund, Bhandup, and Vikhroli.

It is home to bungalows and villas, making it a perfect location for real estate investments. With its excellent commuting time to South Mumbai and demand for commercial and residential properties, its housing prices increased in locations such as Chembur and Ghatkopar from 28% to 30%.

4: Navi Mumbai

Navi Mumbai is witnessing growing demand due to its strategic location, planned infrastructure, and expanding job opportunities. The area attracts homebuyers and investors, with over 8,134 properties listed for sale.

Navi Mumbai has high demand due to nearby schools like ORCHIDS The International School, employment hubs like Vishwaroop IT Park and CBD Belapur, and connectivity between Mumbai–Pune Expressway and Palm Beach Road.

The average property rate in Navi Mumbai varies from Rs. 3,200 to Rs. 53,800 per sq ft, depending on the location and property size. Prices have risen by 2.51% in the past year, with rental yields remaining attractive.

Area Wise Breakdown of Property Rates

Residential Purchase

Area		Apartment/Flats Per Sq ft	House Per Sq ft	Villa Sq Ft
Western Suburbs	Andheri West	Rs. 26,000	-	-
	Andheri East	-	Rs. 19,200	Rs. 40,050
	Bandra West	Rs. 49,500	-
	Borivali West	Rs. 24,200	Rs. 16,000	Rs. 13,000
	Dahisar East	Rs. 16,750	-	-
	Goregaon	Rs. 22,600	-	Rs. 21,000
	Juhu	Rs. 50,900	Rs. 54,200	Rs. 53,700
	Kandiwali West	Rs. 20,900	Rs. 14,200	Rs. 16,000
	Kandiwali East	Rs. 20,400	Rs. 13,200	Rs. 15,300
	Khar West	Rs. 48,100	Rs. 58,000	-
	Malad West	Rs. 21,400	Rs. 10,250	Rs. 14,000
	Santacruz East	Rs. 27,700	Rs. 22,800	Rs. 52,550
	Santacruz West	Rs. 40,600	Rs. 22,900	Rs. 1,450
	Vile Parle	Rs.46,000	Rs. 16,100	Rs. 42,400
Eastern Suburbs	Ghatkopar East	Rs. 22,500	Rs. 21,500	-
	Kurla East	Rs. 18,200	Rs. 12,900	-
	Mulund West	Rs. 22,500	Rs. 15,000	-
	Powai	Rs. 24,650	Rs. 23,250	-
	Vidyavihar	Rs. 22,300	-	-
	Vikhroli West	Rs. 18,300	Rs. 7,650	-
Harbour Suburbs	Chembur	Rs. 20,600	Rs. 18,000	Rs. 21,600
	Wadala	Rs. 36,000	-	Rs. 8,700
	Kharghar	Rs. 16,550	-	-
South Mumbai	Cumbala Hill	Rs. 56,800	-	Rs. 91,200
	Bhuleshwar	Rs. 22,300	-	-
	Fort	Rs. 31,100	-	-
	Byculla	Rs. 32,000	Rs. 38,900	-
	Colaba	Rs. 49,700	-	-
	Dadar	Rs. 39,700	Rs. 31,300	-
	Malabar Hill	Rs. 63,300	-	-
	Parel	Rs. 46,400	-	Rs. 52,900
	Matunga	Rs. 40,800	-	-
	Sion	Rs. 30,700	-	Rs. 55,700
	Umarkhedi	Rs. 20,400	-	-
	Tardeo	Rs. 55,300	-	-

Commercial Purchase

Area		Office	Shop	Showroom
Western Suburbs	Andheri	Rs. 24,500	Rs. 49,000	-
	Bandra	Rs. 40,300	Rs. 87,100	-
	Borivali	Rs. 32,800	Rs. 44,900	-
	Dahisar	Rs. 18,800	Rs. 34,200	-
	Goregaon	Rs. 20,400	Rs. 35,400	-
	Jogeshwari	Rs. 25,700	-	-
	Kandiwali West	Rs. 27,250	Rs. 52,400	-
	Kandiwali East	Rs. 26,800	-	-
	Khar	Rs. 37,200	-	-
	Vile Parle	Rs. 31,300	-	-
Eastern Suburbs	Ghatkopar	Rs. 23,800	-	-
	Mulund	Rs. 20,550	-	-
	Powai	Rs. 18,900	-	-
	Vikhroli	Rs. 22,100	-	-
Harbour Suburbs	Chembur	Rs. 21,000	Rs. 49,750	-
South Mumbai	Fort	Rs. 39,000	-	-
South Mumbai	Sion	Rs. 21,000	-	-

Residential Lease/ Rent

Area		1 BHK Price Range	2 BHK Price Range	3 BHK Price Range
Western Suburbs	Andheri	Rs. 19,200 - Rs. 33,100	Rs. 35,700- Rs. 46,700	-
	Bandra West	Rs. 50,050 - Rs. 1 Lakh	Rs. 70,050 - Rs. 2 Lakh	-
	Borivali West	Rs. 22,050 - Rs. 40,050	Rs. 25,050 - Rs. 65,050	-
	Juhu	Rs. 81,050 - Rs. 100,050	Rs. 90,000 - Rs. 1 Lakh	Rs. 1 Lakh - Rs. 4 Lakh
	Kandiwali West	Rs. 18,550 - Rs. 40,050	Rs. 36,050 - Rs. 67,050	Rs. 55,050 - Rs. 75,050
	Kandiwali East	Rs. 25,050 - Rs. 41,050	-	-
	Khar	Rs. 27,600 - Rs. 47,500	Rs. 51,300 - Rs. 67,100	-
	Malad	Rs. 14,750 - Rs. 22,250	Rs. 27,350 - Rs. 35,800	-
Eastern Suburbs	Ghatkopar West	Rs. 24,050 - Rs. 40,050	Rs. 40,050 - Rs. 1 Lakh	-
	Kurla East	Rs. 30,050 - Rs. 45,050	Rs. 40,050 - Rs. 60,050	-
	Mulund	Rs.. 15,100 - Rs. 23,100	Rs. 25,100 - Rs. 35,100	Rs. 40,100 - Rs. 60,100
	Powai	Rs. 30,100 - Rs. 50,100	Rs. 45,100- Rs. 85,100	Rs. 65,100 - Rs. 1,75,500
	Vikhroli	Rs. 12,100 - Rs. 25,100	Rs. 33,100 - Rs. 43,100	Rs. 50,100 - Rs. 70,100
Harbour Suburbs	Chembur	Rs. 20,100 -Rs. 30,100	Rs. 25,100 - Rs. 45,100	Rs. 75,100 -Rs. 1,75,100
	Wadala	Rs. 25,100 - Rs. 40,100	Rs. 42,100 - Rs. 70,100	Rs. 65,100 - Rs. 2,01,000
	Kharghar	Rs. 8,100 - Rs. 15,100	Rs. 15,100- Rs. 25,100	Rs. 28,100 - Rs. 45,100
South Mumbai	Byculla	Rs. 15,100 - Rs. 35,100	Rs. 45,100 - Rs. 1,50,100	Rs. 1,30,100 - Rs. 2,50,100
	Colaba	Rs. 55,100 - Rs. 75,100	Rs. 100,050 - Rs. 200,050	Rs. 1,50,500 - Rs. 4,50,500
	Dadar	Rs. 30,100 - Rs. 65,100	Rs. 56,10 - Rs. 75,100	Rs. 80,100 - Rs. 1,50,100
	Girgaon	Rs. 25,100 - Rs. 50,100	Rs. 60,100 - Rs. 2,01,000	Rs. 1,50,500 - Rs. 3,00,500
	Parel	Rs. 25,100- Rs. 47,100	Rs. 65,100- Rs. 2,01,000	Rs. 1,75,100- Rs. 1,25,100
	Sion	Rs. 30,100- Rs. 45,100	Rs. 60,100- Rs. 90,100	Rs. 1,25,500- Rs. 2,25,500
	Tardeo	Rs. 30,100- Rs. 60,100	Rs. 80,100- Rs. 1,01,000	Rs. 1,00,500- Rs. 3,50,500

Commercial Lease/ Rent

Area		Rent per sq ft
Eastern Suburbs	Ghatkopar	Rs. 60 - Rs. 160
	Kurla	Rs. 70 - Rs. 110
	Mulund	Rs. 70 - Rs. 100
	Powai	Rs. 80 - Rs. 150
	Vikhroli	Rs. 90 - Rs.140
Harbour Suburbs	Chembur	Rs. 70 - Rs. 130
Harbour Suburbs	Kharghar	Rs. 50 - Rs. 70
South Mumbai	Fort	Rs. 180 - Rs. 400
	Byculla	Rs. 60 - Rs. 100
	Colaba	Rs. 130 - Rs. 255
	Dadar	Rs. 130 - Rs. 210
	Girgaon	Rs. 145 - Rs. 170
	Parel	Rs. 120 - Rs. 210
	Sion	Rs. 100 - Rs. 130
	Tardeo	Rs. 110 - Rs. 150

Wrapping Up

The property rates in Mumbai vary significantly depending on the region, with prime areas such as South Mumbai commanding high prices, ranging from Rs. 27,000 to Rs. 88,000 per sq ft. In comparison, Navi Mumbai has a broader price range from Rs. 3,200 to Rs. 53,800 per sq ft.

Overall, Mumbai’s property market remains dynamic, with demand across residential and commercial spaces contributing to a steady upward price trend.

FAQ's

NRIs can invest in Mumbai's real estate market using funds remitted from abroad or their NRE accounts. However, repatriation of sale proceeds and rental income is subject to regulation and tax implications, so they should consult legal and tax experts.

The process of buying property in Mumbai can be complex and daunting due to the city's skyscrapers and dream city atmosphere. To ensure a smooth and secure home-buying process, it is essential to follow five crucial legal tips.

Verify the Title and Ownership of the Property
Examine the Sale Agreement Thoroughly
Check for Necessary Approvals and Clearances
Review the project description and details on the RERA website
Understand the Property’s Tax Liabilities

South Mumbai, a highly sought-after residential area, is experiencing rising property prices due to high demand and prime locations like Malabar Hill, Charni Road, and Matunga.

The average property price in South Mumbai ranges between Rs. 27,000 and Rs. 88,000 per sq ft, while in Western Suburbs, Mumbai ranges from Rs. 14,000 to 62,000 per sq ft.

Mumbai rental yields are calculated by dividing a property's annual income by its purchase price or current market value.

Average rental yields range between 2% and 4%, with good yields above 4%. However, expectations may vary based on location, property type, and market conditions.

Property Rates in Mumbai 2025 I Investment Options