Mumbai Property Guide 2026: Prices by Area, Metro and Coastal Road Impact, Rents, Costs and Buying Checklist
"Mumbai is India's most expensive and largest housing market by value."
Short answer: Flats in Mumbai cost about ₹37,700 per sq ft on average in 2026, from about ₹26,800 in Dahisar and Kandivali to over ₹66,000 in Worli and Bandra West. Prices are up 64% since 2019 and still rising 4% to 6% a year. Demand is steady: registrations hit a 14-year September high in 2026, and buyers are moving to bigger, costlier homes. Rents return about 3% to 5% a year. Stamp duty is 6% for men and 5% for women, plus registration of up to ₹30,000.
Key takeaways
- Flats average about ₹37,700 per sq ft, from ₹26,800 in Dahisar and Kandivali to ₹67,450 in Bandra West.
- Prices are up 64% since 2019 and rising 4% to 6% a year.
- Registrations hit 12,622 in September 2026, the highest for that month in 14 years.
- A 2 BHK rents for ₹55,000 to ₹90,000 a month; gross yields average about 3.6%.
- Stamp duty is 6% for men and 5% for women, plus registration capped at ₹30,000.
Mumbai property at a glance
| Measure | Figure | Source |
|---|---|---|
| Average asking price | ₹37,700 per sq ft | Square Yards, September 2026 |
| Average price, new projects (Mumbai city) | ₹29,270 per sq ft | ANAROCK, Q2 2026 |
| Price change since 2019 | +64% | ANAROCK |
| Price change, latest year | +4% to +6% | ANAROCK; Knight Frank |
| Property registrations, September 2026 | 12,622, +5% | Knight Frank |
| Homes sold in MMR, Jan–Sep 2026 | 72,804, +1% | Knight Frank |
| Average ticket, Mumbai city, H1 2026 | ₹2.38 crore | NAR–CRE Matrix |
| 2 BHK rent | ₹55,000 to ₹90,000 a month | Housewise India Rent Index 2026 |
| Gross rental yield | About 3.6% (Square Yards); 4.3% (ANAROCK) | Square Yards; ANAROCK |
| Stamp duty | 6% men, 5% women | Maharashtra rates, including metro cess |
At about ₹37,700 per sq ft, Mumbai is the most expensive of the 13 cities in our guides.
Map of areas, metro and roads
Mumbai city is a long peninsula. South Mumbai (Colaba, Nariman Point, Malabar Hill) and the south-central areas (Worli, Lower Parel) are the most expensive. The Western Suburbs run north from Bandra to Dahisar along the Western Railway. The Central Suburbs (Ghatkopar, Powai, Mulund) and Harbour suburbs (Chembur) lie to the east. Thane and Navi Mumbai, outside the city, are part of the wider Mumbai Metropolitan Region (MMR).
Property prices by area
In short: flats in Mumbai average about ₹37,700 per sq ft. Of the areas in this guide, Kandivali West (₹26,800) and Dahisar West (₹26,800) are the cheapest, and Bandra West (₹67,450) and Worli (₹66,300) the most expensive.
Select a column heading to sort. Enter a budget to see how much floor area it buys in each area at the average asking price.
| Zone | |||||
|---|---|---|---|---|---|
| Bandra West | ₹67,450 | +8.8% | 3.7% | Western Suburbs | |
| Worli | ₹66,300 | −10.4% | 4.8% | South-central | |
| Juhu | ₹60,650 | −0.7% | n/a | Western Suburbs | |
| Lower Parel | ₹53,450 | −6.2% | n/a | South-central | |
| Powai | ₹46,300 | +8.6% | 3.3% | Central Suburbs | |
| Andheri West | ₹41,400 | +3.6% | 3.8% | Western Suburbs | |
| Ghatkopar West | ₹38,750 | +32.9% | n/a | Central Suburbs | |
| Chembur | ₹34,300 | +3.4% | 3.6% | Harbour | |
| Goregaon West | ₹33,400 | +2.7% | 3.7% | Western Suburbs | |
| Malad West | ₹30,800 | +2.0% | n/a | Western Suburbs | |
| Borivali West | ₹30,750 | −1.7% | 3.0% | Western Suburbs | |
| Mulund West | ₹29,150 | +1.3% | 3.5% | Central Suburbs | |
| Kandivali West | ₹26,800 | +6.7% | n/a | Western Suburbs | |
| Dahisar West | ₹26,800 | +8.5% | n/a | Western Suburbs | |
| Thane | ₹16,000 | n/a | n/a | Thane (outside Mumbai city) |
Source: Square Yards area pages, June to September 2026. Prices are averages of listed asking prices for apartments, usually on carpet area. Square Yards labels the recent change inconsistently as quarterly or yearly, and Ghatkopar West's figure looks unusually large. Yields are Square Yards' own figures. Thane is a separate city, included for comparison.
What your budget buys
| Budget | Where to look | Typical size at average prices |
|---|---|---|
| Under ₹1 crore | Dahisar, Kandivali, Mira Road, Thane, Navi Mumbai | About 370 sq ft in Mumbai city, about 625 sq ft in Thane: a 1 BHK |
| ₹1 crore to ₹2 crore | Borivali, Kandivali, Malad, Mulund, Goregaon | About 300 to 750 sq ft: a 1 or 2 BHK |
| ₹2 crore to ₹5 crore | Andheri West, Powai, Chembur, Ghatkopar, Goregaon | About 430 to 1,500 sq ft: a 2 or 3 BHK |
| Above ₹5 crore | Bandra, Worli, Juhu, Lower Parel, South Mumbai | About 740 to 940 sq ft at ₹5 crore in Bandra, Worli and Lower Parel |
Calculated from Square Yards average asking prices. Sizes are carpet area. Use the budget column in Table 2 for any amount.
Price trends
Mumbai's prices rose 64% between 2019 and mid-2026, slower than Bengaluru, Hyderabad or Gurugram but from a much higher base. Thane and Navi Mumbai rose at about the same rate.
All measures agree that growth has settled at 4% to 6% a year. Knight Frank ranked Mumbai 8th in the world for prime home price growth in Q2 2026.
On ANAROCK's quoted prices, established Mumbai areas rose only 1% to 3% in the year to June 2026, while peripheral areas such as Panvel (+6%) and Virar (+5%) rose faster.
Area guide
Bandra West
₹67,450 per sq ft · gross yield about 3.7%. Upmarket suburb with sea-facing towers, Pali Hill and Linking Road. Suits: top-end buyers wanting a western suburb address.
Worli
₹66,300 per sq ft · gross yield about 4.8%. Luxury towers along the sea face, next to the Coastal Road and Sea Link. Suits: luxury buyers and senior executives.
Juhu
₹60,650 per sq ft. Beachside bungalows and older apartment buildings near the airport. Suits: buyers wanting a beach-side western address.
Lower Parel
₹53,450 per sq ft. Former mill district turned office and luxury-tower hub. Suits: professionals working in the Lower Parel and Worli offices.
Powai
₹46,300 per sq ft · gross yield about 3.3%. Planned lakeside township with Hiranandani Gardens and offices. Suits: families and tech or finance professionals.
Andheri West
₹41,400 per sq ft · gross yield about 3.8%. Busy western suburb with Metro Lines 1 and 2A and film studios. Suits: buyers wanting connectivity to both the airport and the west.
Ghatkopar West
₹38,750 per sq ft. Central suburb at the Metro Line 1 interchange with the Central Railway. Suits: families on the Central line.
Chembur
₹34,300 per sq ft · gross yield about 3.6%. Eastern suburb on the Eastern Freeway, with new Metro Line 2B stations. Suits: buyers wanting quick access to South Mumbai and Navi Mumbai.
Goregaon West
₹33,400 per sq ft · gross yield about 3.7%. Mid-segment western suburb near Film City and Aarey. Suits: families in the western suburbs.
Malad West
₹30,800 per sq ft. Large residential and office area around Mindspace and Infiniti Mall. Suits: office workers in Malad.
Borivali West
₹30,750 per sq ft · gross yield about 3.0%. Established northern suburb next to Sanjay Gandhi National Park. Suits: families wanting space and greenery.
Mulund West
₹29,150 per sq ft · gross yield about 3.5%. North-eastern suburb on the Central line, next to Thane. Suits: families on the Central line.
Kandivali West
₹26,800 per sq ft. Northern suburb with large redevelopment and new projects. Suits: value buyers in the western suburbs.
Dahisar West
₹26,800 per sq ft. Northern edge of Mumbai city, on Metro Lines 2A, 7 and 9. Suits: budget buyers wanting a Mumbai city address.
Thane
₹16,000 per sq ft. Separate city north-east of Mumbai with large new townships. Suits: families needing more space for the money.
Prices and yields: Square Yards, 2026. Descriptions are general; check individual buildings.
Rents and rental yield
In short: A 2 BHK typically rents for ₹55,000 to ₹90,000 a month. Gross rental yields average about 3.6%, and Worli is highest at about 4.8%.
Mumbai has India's highest rents. A 2 BHK typically costs ₹55,000 to ₹90,000 a month, and rents rose 12% to 18% in the year to mid-2026, according to Housewise. Deposits are usually 3 to 6 months' rent.
Most areas return 3% to 4% gross. Worli is the highest at 4.8% on Square Yards' figures. ANAROCK puts Mumbai at 4.3%, up from 3.5% in 2019, because rents rose faster than prices.
EMI or rent?
| Flat price | Down payment (20%) | Monthly EMI | Typical monthly rent | EMI ÷ rent |
|---|---|---|---|---|
| ₹1 crore | ₹20 lakh | ₹66,915 | ₹30,250 | 2.2× |
| ₹2 crore | ₹40 lakh | ₹1,33,830 | ₹60,500 | 2.2× |
| ₹5 crore | ₹100 lakh | ₹3,34,576 | ₹1,51,250 | 2.2× |
Owning costs about 2.2 times as much each month as renting the same flat, a smaller gap than in Gurugram or Navi Mumbai because Mumbai rents are high relative to prices.
Each half-point rise in the interest rate adds about ₹9,303 a month to the EMI on this loan, so compare lenders and ask how your rate is linked to the repo rate.
Sales, registrations and demand
Mumbai recorded 12,622 property registrations in September 2026, up 5% on a year earlier and the most for any September in 14 years. Stamp duty collections fell 5% to ₹1,227 crore, because more of the sales were of cheaper homes. Registrations during the Ganesh festival window rose 22%.
Across the Mumbai region, Knight Frank counted 72,804 homes sold in January to September 2026, up 1%, with Q3 the strongest quarter since 2018. Launches rose 13%, but unsold stock fell 2% to about 1.55 lakh homes. Office leasing hit a half-year record of 7.3 million sq ft in H1 2026, which supports housing demand.
Buyers are moving up. Sales below ₹1 crore fell, while sales of ₹10 crore to ₹20 crore homes rose 40%. Mumbai accounted for 41 of the 53 homes priced above ₹50 crore sold across India's eight largest cities. In Mumbai city, the average home sold in H1 2026 cost ₹2.38 crore, and homes of ₹5 crore and more made up 40% of sales value.
ANAROCK's figures are less upbeat: MMR sales fell 8% in Q2 2026 while launches rose 23%, and unsold stock rose 9% to 1.92 lakh homes, about 18 months of sales. The two firms count different projects, so read them together.
Mumbai vs. Thane vs. Navi Mumbai
| Measure | Mumbai city | Thane | Navi Mumbai | Source |
|---|---|---|---|---|
| Average price, Q2 2026 | ₹29,270 | ₹14,300 | ₹11,720 | ANAROCK |
| Price change, 2019 to 2026 | +64% | +63% | +71% | ANAROCK |
| Gross rental yield | 4.3% | 3.5% | 3.6% | ANAROCK |
| 2 BHK rent per month | ₹55,000 to ₹90,000 | ₹25,000 to ₹45,000 | ₹25,000 to ₹45,000 | Housewise |
| Stamp duty, man | 6% | 7% | 7% | Maharashtra rates |
Thane and Navi Mumbai rates include a 1% local body tax where it applies; confirm for the exact location.
Metro, Coastal Road and infrastructure
- Aqua Line 3. Mumbai's first underground metro, 33.5 km from Aarey to Cuffe Parade via the airport, BKC, Worli and Churchgate, fully open since 9 October 2025.
- Coastal Road. The 10.6 km southern section from Marine Lines to the Worli end of the Bandra–Worli Sea Link opened in March 2024. The northern extension, including the Versova–Bandra Sea Link, is under construction.
- Atal Setu. The sea bridge from Sewri to Navi Mumbai opened in January 2024, linking South Mumbai to Navi Mumbai and the new airport there.
- Metro Lines 2B and 9. Partly open since 2026, with full openings targeted for 2026 to 2028. Line 7A to the airport's Terminal 2 is targeted for January 2027.
- Lines 4, 4A, 5 and 6. Targeted for around December 2028, linking Thane, Wadala, Bhiwandi and Vikhroli with the western suburbs.
The open projects have already lifted prices in Worli, BKC and along the Aqua Line. The next wave of metro lines mainly affects Thane, Mira-Bhayandar, Chembur and the eastern suburbs.
Redevelopment
Much of Mumbai's new supply in established suburbs comes from redeveloping old housing societies. Existing members get larger new flats, and the developer sells the extra flats to fund the project. For buyers, a sale flat in a redevelopment can offer an established location at a new-building price. Check the development agreement with the society, MahaRERA registration, all approvals and the developer's record, because delays and disputes are common.
Stamp duty and buying costs
In short: on a ₹1 crore home, stamp duty and registration come to about ₹6.3 lakh for a man and ₹5.3 lakh for a woman buying alone, among the lowest of the 13 cities in our guides.
| Charge | Man or joint with a man | Woman buyer |
|---|---|---|
| Stamp duty | 5% | 4% |
| Metro cess | 1% | 1% |
| Total | 6% | 5% |
| Registration | 1%, capped at ₹30,000 | 1%, capped at ₹30,000 |
Charged on the higher of the agreement value and the ready reckoner value. Maharashtra kept ready reckoner rates unchanged for April 2026 to March 2027. Sources differ on whether a further surcharge applies in some cases; confirm with the sub-registrar or the IGR Maharashtra website.
| Cost | Typical amount | Notes |
|---|---|---|
| GST | 5% of price | Under-construction homes only; 1% for homes that qualify as affordable |
| Brokerage | About 1% to 2% | Mainly on resale; negotiable |
| Society transfer charges | Varies | Capped by Maharashtra co-operative society rules |
| Property tax | Annual | Paid to the Brihanmumbai Municipal Corporation (BMC) |
Banks lend against the property price, so stamp duty, registration and GST usually have to come from your own savings on top of the down payment. Plan for about ₹27 lakh to ₹31 lakh in cash for every ₹1 crore of property.
Buying cost calculator
Stamp duty on the price entered; if the ready reckoner value is higher, duty is charged on that. Excludes society transfer charges, maintenance, interiors and loan fees. An estimate, and not legal or tax advice.
Buyer's checklist
- Check MahaRERA registration. Search the project on the MahaRERA website and read its approvals, timelines and complaints.
- Search the title. Have a lawyer search the title for at least 30 years and check encumbrances.
- Check the CC and OC. Confirm the commencement certificate and, for a ready flat, the occupancy certificate.
- Get the society NOC. For resale, get the housing society's no-objection certificate.
- Look up the ready reckoner rate. Stamp duty is charged on the higher of the agreement value and the ready reckoner value.
- Check dues and the share certificate. Confirm property tax, maintenance and utility dues are paid, and the share certificate transfers.
- Visit the site. Visit at rush hour and in the monsoon to check traffic, waterlogging and water supply.
- Budget for all costs. Add stamp duty, registration, GST on under-construction homes, brokerage and interiors.
Ready vs. under construction
| Factor | Ready to move | Under construction |
|---|---|---|
| GST | None | 5% (1% if affordable) |
| Choice | Resale in established buildings | New towers and redevelopment projects |
| Risk | Older buildings may need repairs | Delivery delays, especially in redevelopment |
| Rent or move in | Immediately | After possession, often three to five years |
Outlook for 2026 and 2027
- Demand is steady. Registrations are at record levels and Knight Frank's sales are slightly up.
- Prices are rising moderately. 4% to 6% a year on most measures.
- Buyers are trading up. Sales above ₹2 crore are growing while sales below ₹1 crore shrink.
- New infrastructure keeps arriving. More metro lines open in 2026 to 2028, and the Coastal Road's northern section is being built.
- Loans are dearer. The RBI raised the repo rate to 5.50% in October 2026, so EMIs on floating-rate loans will rise.
The data points to a stable market with modest price growth. No reliable price forecast has been published.
Risks
- Affordability. Mumbai is India's least affordable housing market; an EMI takes a large share of income.
- Redevelopment delays. Projects can stall over society disputes or approvals.
- Older buildings. Check structural condition and repair liabilities.
- Monsoon flooding. Some low-lying areas flood regularly; visit in the rains.
- Small homes for the price. Carpet areas are small, so check usable space carefully.
Glossary
- MMR
- Mumbai Metropolitan Region: Mumbai city plus Thane, Navi Mumbai, Kalyan-Dombivli, Mira-Bhayandar, Vasai-Virar and Panvel.
- Ready reckoner rate
- The government's minimum property value per square metre, used for stamp duty.
- Carpet area
- The usable floor area inside a flat's walls. Maharashtra prices are usually quoted on it.
- OC and CC
- Occupancy certificate (the building is fit to occupy) and commencement certificate (permission to start construction).
- Society NOC
- A no-objection certificate from the housing society, needed for resale.
- Redevelopment
- Rebuilding an old housing society's building, with existing members rehoused in larger flats.
- MahaRERA
- The Maharashtra Real Estate Regulatory Authority, where new projects must be registered.
Frequently asked questions
What is the average property price in Mumbai in 2026?
The average asking price for flats in Mumbai was about ₹37,700 per sq ft in September 2026, according to Square Yards listings. It ranges from about ₹26,800 in Dahisar and Kandivali to over ₹66,000 in Worli and Bandra West, and far more in parts of South Mumbai. ANAROCK's average quoted price for new projects in Mumbai city was ₹29,270 per sq ft in Q2 2026.
Which is the best area to buy a flat in Mumbai?
It depends on budget and commute. Bandra, Worli, Juhu and Lower Parel are the premium choices. Andheri West and Powai suit people who want good connectivity and offices nearby. Goregaon, Malad, Borivali, Kandivali and Mulund are the main mid-budget suburbs, and Thane and Navi Mumbai offer more space for the money outside Mumbai city.
How much have Mumbai property prices increased?
ANAROCK's average for Mumbai city rose 64% between 2019 and Q2 2026, from ₹17,845 to ₹29,270 per sq ft. In the latest year, growth was 4% to 6%: ANAROCK puts the Mumbai region at 4%, Knight Frank's weighted average at 5% and its prime index at 6.2%.
What is the stamp duty in Mumbai?
Stamp duty in Mumbai is 6% for men (5% duty plus 1% metro cess) and 5% for women buying in their own name. Registration is 1% of the value, capped at ₹30,000. Duty is charged on the higher of the agreement value and the ready reckoner value. Maharashtra kept ready reckoner rates unchanged for 2026-27.
How many property registrations are there in Mumbai?
Mumbai recorded 12,622 property registrations in September 2026, up 5% on a year earlier and the highest for any September in 14 years, according to Knight Frank. Stamp duty collections that month were ₹1,227 crore, down 5%, because more of the sales were of cheaper homes.
What is the rental yield in Mumbai?
Square Yards puts the average gross rental yield at about 3.6%, from about 3.0% in Borivali West to 4.8% in Worli. ANAROCK's figure for Mumbai is 4.3%. A 2 BHK typically rents for ₹55,000 to ₹90,000 a month.
What can I buy in Mumbai for ₹1 crore?
At average asking prices, ₹1 crore buys about 370 sq ft in Dahisar or Kandivali West, about 340 sq ft in Mulund or Borivali, and about 150 sq ft in Bandra West or Worli. Most buyers with this budget look at a 1 BHK in the outer suburbs, or at Thane, Mira Road or Navi Mumbai, where it buys about 625 sq ft or more.
Is it a good time to buy property in Mumbai?
Demand is steady: MMR sales rose 1% in January to September 2026 and Q3 was the best quarter since 2018. Prices are rising 4% to 6% a year and unsold stock is falling on Knight Frank's figures. Affordability is the main constraint: Mumbai is India's most expensive market, so check that the EMI fits your income.
Which metro lines are open in Mumbai?
Line 1 (Versova–Ghatkopar), Lines 2A and 7 in the western suburbs, and Aqua Line 3 from Aarey to Cuffe Parade, fully open since October 2025, are running. Parts of Line 2B and Line 9 opened in 2026. Lines 4, 4A, 5 and 6 and the rest of 2B are targeted for around December 2028.
What is redevelopment in Mumbai and is it safe to buy?
Many old housing societies are being rebuilt by developers, who give existing members larger new flats and sell the extra flats to fund the project. Buying a sale flat in a redevelopment can offer a good location, but check the society's agreement with the developer, MahaRERA registration, approvals and the developer's track record, as delays are common.
Mumbai or Thane: which is better?
Mumbai city costs about twice as much: ANAROCK puts its average at ₹29,270 per sq ft against Thane's ₹14,300. Thane offers bigger homes, newer townships and similar long-run price growth (63% since 2019 against 64%), but longer commutes to South Mumbai and the western suburbs.
What should I check before buying a flat in Mumbai?
Check MahaRERA registration, a title search going back at least 30 years, the commencement and occupancy certificates, the society's no-objection certificate and share certificate for resale, the ready reckoner rate, and that property tax, maintenance and utility dues are paid.
Related guides
How we compiled this guide
- Area prices are average asking prices for apartments from Square Yards' area pages, checked between June and October 2026. Asking prices are what sellers list, not final sale prices, and they move as listings change.
- City-wide trends, sales and supply come from research firms such as ANAROCK, Knight Frank, PropEquity, JLL and Crisil, as labelled under each chart. Each firm tracks different projects and periods, so we show their figures side by side rather than combining them.
- Calculated figures, such as floor area for a budget, EMIs (80% loan, 20 years, 8%), rent at a stated yield and buying costs, are our own arithmetic from those sources.
- Stamp duty and registration rates are taken from state rules as reported by the sources listed. Confirm the exact amount with the sub-registrar before you pay.
- Dates. This guide was published on 12 October 2026. We plan to review it in January 2027.
Sources and resources
- Square Yards: Mumbai property rates and area pages for Bandra West, Worli, Andheri West, Powai, Chembur, Goregaon West, Borivali West, Mulund West
- ANAROCK: MMR Residential Market Viewpoints, Q2 2026, Q2 2025, prices and yields since 2019 (Upstox)
- Knight Frank: September 2026 registrations (The Tribune), nine-month 2026 sales (The Hans India), India Real Estate H1 2026, prime price index (Business Today)
- NAR–CRE Matrix India Housing Report, September 2026 (Business Today)
- NHB RESIDEX, Q3 FY26
- Housewise India Rent Index 2026
- Stamp duty: ready reckoner freeze for 2026-27 (PropNewz)
- Infrastructure: Mumbai Metro, Aqua Line, Coastal Road (Wikipedia)
- Official portals: MahaRERA, IGR Maharashtra (registration and ready reckoner rates), Brihanmumbai Municipal Corporation, MMRDA
This page is general information, and not financial, legal or tax advice. Figures are averages from the sources listed and will differ for individual properties.
