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Property Rates in Mumbai: Price per Sq. Ft. and Rental Trends in Top Areas 2025
Published : February 12, 2025, 11:16 AM
Updated : February 12, 2025, 11:16 AM
Author :
Vivek
Table of Contents
Mumbai is the country's financial, commercial, and entertainment capital. It is also in one of the top ten financial centres globally, accounting for 6.16 per cent of India's GDP and 25 per cent of industrial output, 70 per cent of marine trade (Mumbai Port Trust and JNPT), and 70 per cent of capital transactions. Mumbai has the eighth-largest number of billionaires of any city on the planet, several important financial institutions and corporate offices of major Indian and multinational organisations are located in the city. Being a metropolitan city, the property rates in Mumbai are always in a race to make a new high.
Mumbai’s business opportunities attract people from all over the globe and the city’s population has grown by 8.2% as the latest population numbers (2025) read 22,089,000. According to the property rates in Mumbai, after considering all variable factors, they are higher than in other cities. This article aims to educate you about the city's latest property price trends and real estate rates.
What are the current Property Rates in Mumbai?
The demand for newer and better residential and commercial real estate is never-ending in a city as big as Mumbai. Every year, millions of people migrate to the city in the hope of better financial, educational and social life. Those people who settle, start their journey from worrying about flat rents in Mumbai to owning an apartment one day.
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Average Mumbai flat rates:
- 1 BHK: ₹1.02 crores
- 2 BHK: ₹2.70 crores
- 3 BHK: ₹4.70 crores
- 4 BHK: ₹9.00 crores
Here is a tabulation of property rates in Mumbai’s top 15 localities for 2024 and 2025 and the growth rate in the cost. The price is mentioned as Mumbai per square feet rate.
| Locality | 2024 rates | 2025 rates | Y/Y growth rate |
| Thane East | ₹12,880-₹10,940/sq. ft. | ₹13,170/sq. ft. | +10.58% |
| Thane West | ₹17,193-₹16,070/sq. ft. | ₹12,370/sq. ft. | -25.62% |
| Ambivali | ₹14,690-₹25,150/sq. ft. | ₹3,560/sq. ft. | -82.13% |
| Andheri East | ₹19,080-₹22,200/sq. ft. | ₹16,610/sq. ft. | -19.53% |
| Andheri West | ₹22,340-₹23,730/sq. ft. | ₹45,440/sq. ft. | +97.27% |
| Ashok Nagar | ₹28,210-₹30,770/sq. ft. | ₹42,700/sq. ft. | +44.79% |
| Borivali East | ₹18,160-₹19,730/sq. ft. | ₹19,040/sq. ft. | +0.50% |
| Borivali West | ₹18,940-₹19,340/sq. ft. | ₹20,340/sq. ft. | +5.20% |
| Dahisar | ₹13,220-₹13,630/sq. ft. | ₹28,390/sq. ft. | +111.47% |
| Film City Road | ₹15,700-₹25,600/sq. ft. | ₹32,850/sq. ft. | +59.47% |
| Gokul Nagar | ₹7,010-₹4,190/sq. ft. | ₹3,018/sq. ft. | -85.35% |
| Goregaon East | ₹16,530-₹20,070/sq. ft. | ₹17,000/sq. ft. | -11.92% |
| Goregaon West | ₹10,320-₹19,410/sq. ft. | ₹14,910/sq. ft. | +0.30% |
| Bandra East | ₹30,740-₹36,9200/sq. ft. | ₹30,850/sq. ft. | -7.58% |
| Bandra West | ₹25,610-₹43,200/sq. ft. | ₹17,540/sq. ft. | -48.87% |
| Juhu | ₹1,890-₹37,030/sq. ft. | ₹34,040/sq. ft. | +74.92% |
How much do Independent House Rates in Mumbai cost?
The average price for independent house rates in Mumbai is as follows:
- 1BHK- 50.50 L
- 2BHK- 2.32 crore
- 3BHK- 3.15 crores
- 4BHK- 5.48 crores
The average Mumbai flat price is approximately ₹ 3 crores. Here is a tabulation of house rates in Mumbai’s top 15 localities for 2024 and 2025 and the growth rate in the cost. The price is given as per square feet rate in Mumbai.
| Locality | 2024 rates | 2025 rates | Y/Y growth rate |
| Thane East | ₹18,250 | ₹18,250 | Constant |
| Thane West | ₹18,350 | ₹19,700 | +7.36% |
| Ambivali | ₹4,920 | ₹5,215 | +6.00% |
| Andheri East | ₹22,426 | ₹19,158 | -14.57% |
| Andheri West | ₹20,726 | ₹20,000 | -3.50% |
| Ashok Nagar | ₹4,900 | ₹3,750 | -23.47% |
| Borivali East | ₹30,000 | ₹28,550 | -4.83% |
| Borivali West | ₹17,409 | ₹15,949 | -8.39% |
| Dahisar | ₹20,600 | ₹21,300 | +3.40% |
| Film City Road | ₹27,250 | ₹32,850 | +20.55% |
| Gokul Nagar | ₹14,810 | ₹17,357 | +17.20% |
| Goregaon East | ₹30,500 | ₹31,200 | +2.30% |
| Goregaon West | ₹10,091 | ₹6,097 | -44.07% |
| Bandra East | ₹32,980 | ₹36,470 | +10.58% |
| Bandra West | ₹57900 | ₹60,000 | +3.63% |
| Juhu | ₹41,444 | ₹54,166 | +30.70% |
What is the expected Property Rent in Mumbai for 2025?
As per the current property trends in Mumbai, property rates in Mumbai, especially the graphs of 1 RK rent in Mumbai, have grown quite well. According to the latest RBI House Price Index, the average Mumbai flat rate has increased at a CAGR of 4.30 per cent in the second quarter of 2024. Therefore, you may always locate a Mumbai House price that meets your budget, even if it is a suited project coming built in an early location loaded with facilities and infrastructure.
Now we will take a look at average flat rents in Mumbai. We will discuss all kinds of apartments rented in Mumbai like 2 BHK, 3 BHK, 1 BHK, and 1 RK.
What are the Rental Prices for 2 BHK Property in Mumbai?
The 2 BHK home layout is the most popular across India and most families and individuals prefer it. As far as the residential rates in Mumbai are concerned, the average rent range for a 2 BHK in Mumbai would be around ₹50,000-₹80,000 per month. Here are the rent rate comparisons for the past two years if we take the top 15 localities.
| Locality | 2024 rent | 2025 rent | Average Change in Rent |
| Bandra West | ₹1,31,950 | ₹1,35,247 | 2.50% |
| Bandra East | ₹92,356 | ₹1,18,612 | 28.43% |
| Khar West | ₹1,24,827 | ₹1,34,594 | 7.82% |
| Santacruz West | ₹1,20,137 | ₹1,28,642 | 7.08% |
| Vile Parle West | ₹86,250 | ₹1,17,000 | 35.65% |
| Vile Parle East | ₹74,277 | ₹76,214 | 2.61% |
| Juhu | ₹1,30,000 | ₹1,33,333 | 2.56% |
| Andheri West | ₹73,888 | ₹78,954 | 6.86% |
| Andheri East | ₹62,020 | ₹64,923 | 4.68% |
| Jogeshwari | ₹55,499 | ₹64,897 | 16.93% |
| Goregaon East | ₹63,522 | ₹40,714 | -35.91% |
| Goregaon West | ₹60,171 | ₹65,200 | 8.36% |
| Malad West | ₹57,660 | ₹59,891 | 3.87% |
| Malad East | ₹62,929 | ₹46,666 | -25.84% |
| Kandivali west | ₹48,292 | ₹47,830 | -2.23% |
| Borivali West | ₹42,170 | ₹46,319 | 9.84% |
What are the Rental Prices for 3 BHK Property in Mumbai?
3BHK homes are more suited towards large families and luxurious lifestyles. Hence, the average rent for Mumbai housing prices for 3BHK rents is around ₹1.5 lakhs. Here are the rent rate comparisons for the top 15 localities over the past 2 years.
| Locality | 2024 rent | 2025 rent | Average Change in Rent |
| Bandra West | ₹2,08,507 | ₹2,63,283 | 26.27% |
| Bandra East | ₹1,86,333 | ₹2,01,904 | 8.36% |
| Khar West | ₹1,97,884 | ₹2,40,000 | 21.28% |
| Santacruz West | ₹1,81,965 | ₹2,26,944 | 24.72% |
| Vile Parle West | ₹2,77,142 | ₹2,82,095 | 1.79% |
| Vile Parle East | ₹1,05,384 | ₹1,20,000 | 13.87% |
| Juhu | ₹2,30,789 | ₹2,54,750 | 10.38% |
| Andheri West | ₹1,22,339 | ₹1,28,750 | 5.24% |
| Andheri East | ₹95,800 | ₹96,666 | 0.90% |
| Jogeshwari | ₹1,09,000 | ₹1,07,667 | -1.22% |
| Goregaon East | ₹1,19,473 | ₹1,23,444 | 3.32% |
| Goregaon West | ₹93,200 | ₹92,381 | -0.88% |
| Malad West | ₹79,781 | ₹87,859 | 10.13% |
| Malad East | ₹88,275 | ₹97,333 | 10.26% |
| Kandivali west | ₹72,809 | ₹67,222 | -7.67% |
| Borivali West | ₹57,909 | ₹63,392 | 9.47% |
How much does it cost to rent 1 BHK Property in Mumbai?
Smaller and more affordable 1 BHK homes also exist to cater to young professionals who come into the city of dreams from far away places. The average rent for 1BHK homes in mumbai is around ₹25K-35K. The Mumbai real estate prices, as far as rent for 1BHK homes is concerned, are listed below for the top 15 localities over the past 2 years.
| Locality | 2024 rent | 2025 rent | Average Change in Rent |
| Bandra West | ₹70,35 | ₹82,516 | 17.29% |
| Bandra East | ₹50,625 | ₹48,200 | -4.79% |
| Khar West | ₹67,495 | ₹70,000 | 3.71% |
| Santacruz West | ₹62,499 | ₹66,733 | 6.77% |
| Vile Parle West | ₹43,831 | ₹56,666 | 29.28% |
| Vile Parle East | ₹48,916 | ₹50,500 | 3.24% |
| Juhu | ₹52,000 | ₹76,444 | 47.01% |
| Andheri West | ₹46,027 | ₹56,857 | 23.53% |
| Andheri East | ₹37,079 | ₹40,457 | 9.11% |
| Jogeshwari | ₹33,083 | ₹41,975 | 26.88% |
| Goregaon East | ₹33,209 | ₹32,800 | -1.23% |
| Goregaon West | ₹30,826 | ₹33,009 | 7.08% |
| Malad West | ₹29,579 | ₹34,871 | 17.89% |
| Malad East | ₹36,681 | ₹40,000 | 9.05% |
| Kandivali West | ₹29,805 | ₹34,588 | 16.05% |
| Borivali West | ₹28,504 | ₹31,596 | 10.85% |
What are the Rental Prices for 1 RK Property in Mumbai?
1RK homes are quite popular amongst minimalist fans. These small spaces serve their purpose and also help people stay in posh and popular neighbourhoods. The average 1RK rent in Mumbai is around ₹17K-25K. The apartment rate in Mumbai for 1RK rental rates for the top 15 localities is listed below, spanning the last two years.
| Locality | 2024 rent | 2025 rent | Average Change in Rent |
| Bandra West | ₹35,000 | ₹43,000 | 22.86% |
| Bandra East | ₹30,000 | ₹22,500 | -25% |
| Khar West | ₹30,000 | ₹58,000 | 93.33% |
| Santacruz West | ₹25,000 | ₹28,000 | 12% |
| Vile Parle West | ₹25,000 | ₹23,500 | -6% |
| Vile Parle East | ₹20,000 | ₹31,000 | 55% |
| Juhu | ₹30,000 | ₹23,500 | -21.67% |
| Andheri West | ₹20,000 | ₹32,000 | 60% |
| Andheri East | ₹18,000 | ₹21,000 | 16.67% |
| Jogeshwari | ₹15,000 | ₹22,000 | 46.67% |
| Goregaon East | ₹10,000 | ₹17,500 | 75% |
| Goregaon West | ₹12,000 | ₹15,500 | 29.17% |
| Malad West | ₹15,000 | ₹18,000 | 20% |
| Malad East | ₹12,000 | ₹36,000 | 200% |
| Kandivali West | ₹14,000 | ₹20,000 | 42.86% |
| Borivali West | ₹10,000 | ₹11,500 | 15% |
Important Note: Estimated price might vary according to market value. Contact NoBroker professionals for exact price details.
Property Rates History of Last Few Years in Mumbai
Property rates in Mumbai have greatly appreciated over the past decade owing to better infrastructure, rapid commercialization, and more demand for commercial and residential spaces. Despite the unpredictable global market rates, the city of dreams continually reported stable growth in the real estate sector, notwithstanding considerable price jumps and falls in certain locations.
What are Property Appreciation Rates in Mumbai?
Mumbai, India's financial centre and vibrant city, is well known for its active real estate market. As one of the most populated cities in the world, Mumbai offers a range of property choices, from reasonably priced homes in its suburbs to luxurious homes in South Mumbai. The city's property rates are increasing at a good pace, which attracts buyers and investors alike.
The average prices for 2BHK apartments in Mumbai over recent years are as follows:
| Year | Average Price (₹) |
| 2019 | 1,08,91,102 |
| 2020 | 1,08,00,520 |
| 2021 | 1,12,31,915 |
| 2022 | 1,18,82,423 |
| 2023 | 1,25,35,956 |
Below is the appreciation of average prices for 3BHK apartments in Mumbai over recent years:
| Year | Average Price (₹) |
| 2019 | 1,75,30,000 |
| 2020 | 1,72,80,000 |
| 2021 | 1,80,00,000 |
| 2022 | 1,90,25,000 |
| 2023 | 2,02,00,000 |
Property Growth Rate Over the Last few Years
- Bandra West: Rates have considerably risen over the past few years due to the never-ending demand for residential and commercial spaces in this area.
- Bandra East: The presence of large corporate offices in this area keeps the houses here in high demand.
- Khar West: Khar’s connectivity to areas like BKC (Bandra Kurla Complex) are undeniably a great asset for daily commuters. Plus the area has a great mix of old world charm and modern amenities.
- Santacruz West: Its unmatchable social infrastructure, seamless connectivity, presence of premier educational institutions, and road and rail accessibility make it a great choice.
- Vile Parle West: The lively marketplace is an oasis among the corporate desert for retail enthusiasts here. There are also quite a few reputed educational institutions here.
- Vile Parle East: The robust physical and social infrastructure combined with excellent connectivity always keeps this locality among the top choices.
- Juhu: The opulent ambience and celebrity presence makes Juhu a diamond in the rough and always keep it at the top of the list.
- Andheri West: The closeness to commercial hubs, a wide range of housing options and excellent infrastructure have propelled the prices of this locality over the years.
- Andheri East: Its proximity to the Western Express highway and the International Airport makes it a great locality. Add to that the metro network, central location, and a mix of luxurious and affordable homes.
- Jogeshwari: Being close to the Jogeshwari-Vikhroli Link Road, as well as the Western Express Highway, has always helped me appreciate the housing rates here.
In real estate investing, everything depends on when you enter the market. To get the best deals at Mumbai real estate prices, you have to buy property in Mumbai at the right time. For example, with the construction of Navi Mumbai Airport, property rates in Mumbai in that area are increasing steadily. Property prices in Mumbai will also vary in case there are other amenities attached to the property such as clubhouses, swimming pools, parks, extra parking spaces, etc.
In this article, we presented a tabulation of the current and the last year's property prices in Mumbai for every kind of property for you to make an informed and correct decision for your investment. If you are looking for brokerage-free properties on sale and rent, you can certainly check out the thousands of listings on Nobroker website and mobile application. For further assistance, drop a comment below and our executive will be in touch with you.
Frequently Asked Questions
Ans: In 2025, the most expensive real estate in Mumbai is in areas such as Bandra (east and west) and Juhu. The average cost per square foot in these areas is between Rs. 35,000 to Rs. 55,000!
Ans: If you are looking for a flat for rent in Mumbai, you will have to pay between Rs. 25,000 to Rs. 90,000 depending on the locality.
Ans: The property rates in Mumbai are expensive because of many factors such as - the financial capital of India, demand being more than supply and the buzzing social lifestyle.
Ans: The average cost of a 2-bedroom apartment or flat in Mumbai is close to Rs. 2 crores.
Ans: On average, real estate prices in Mumbai have appreciated 9% per annum in the past decade.
Ans: Mumbai's real estate market is strong due to steady demand and significance. Limited land and high demand support stability and appreciation.
Ans: Luxury areas like South Mumbai range from ₹1 to ₹1.5 lakh per square foot, while suburban areas like Thane and Navi Mumbai offer ₹10,000 to ₹30,000 per square foot.
Ans: South Mumbai has India’s highest property prices, with Malabar Hill, Napean Sea Road, and Worli Sea exceeding ₹1 lakh per square foot due to their premium reputation and limited availability.
Ans: Choose a region based on your goals and budget: Bandra, Juhu, and Powai for luxury living, or Navi Mumbai, Thane, and Panvel for affordable long-term investments.
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