Best Places to Buy a Flat in Mumbai
Finding the perfect flats in a metropolitan city like Mumbai can be daunting. All the boxes need to be ticked, from location to affordability and social amenities, when it comes to house hunting. It takes all these parameters to be checked before you can call it your home. With our carefully curated exclusive locations where you can buy a flat in Mumbai, we've made this hassle of flat hunting easy for you. The following is the list of top locations in Mumbai where you can own a flat.
1. Malad West, Mumbai
In the Western suburbs of Mumbai, Malad West is a residential area featuring high-rise apartments and villas. Some of the prominent residential projects in the area include Transcon Auris Serenity and Royal Oasis. Malad West enjoys excellent connectivity through the Western Suburban Railway’s western line and the Western Expressway. The area is highly popular among residents due to its strong infrastructure and proximity to essential services. Moreover, it is near the major employment hubs, making it a highly desirable place for working professionals.
Flats for Sale in Malad West, Mumbai
2. Sion, Mumbai
Sion is a popular residential locality in Central Mumbai. It is well-connected to various areas of Mumbai through the Eastern Express Highway. It is a stone's throw away from the Bandra Kurla Complex (BKC) and Chhatrapati Shivaji International Airport. The extensive connectivity is further enhanced by the Sion Railway Station on the Central Line and Chuna Bhatti Railway Station on the Harbour Line. With the under-construction of Line 3 of the Mumbai Metro, access is set to improve even more. The area also boasts reputable educational institutions and well-known healthcare facilities, ensuring all your needs are met. With retail hubs in Lower Parel and major employment centres such as BKC nearby, Sion is an attractive place to live.
Flats for Sale in Sion, Mumbai
3. Mira Road, Mumbai
Mira Road East, located on the outskirts of Mumbai, is a residential area in the Mira-Bhayandar locality. It is known for housing multi-storied apartments and industrial developments. This neighbourhood offers affordable housing options and connects Mumbai’s employment hubs through the Western Express Highway and the Western Railway Line. Some of the notable residential projects in the area include JP North Garden City and Unique Aurum. Mira Road East boasts reputed educational institutions like Vedant International High School, NL Dalmia Institute of Management, and major healthcare facilities like Wockhardt Hospital. Nearby Maxus Mall and Thakur Mall meet retail needs. The area is close to employment hubs like Mindspace Malad and Bandra-Kurla Complex, making it a convenient choice for working professionals.
Flats for Sale in Mira Road, Mumbai
4. Kandivali East, Mumbai
Kandivali East is a popular neighbourhood in Mumbai. It hosts multiple industrial and commercial developments. It is near Kandivali Railway Station and the upcoming Charkop Metro Station, facilitating easy access across Mumbai. It houses popular residential areas such as Sarova Township, Ruchi Priya Uptown, Tanna Heights, ACME Oasis, and SD Sienna. The residents of Kandivali East benefit from a strong social infrastructure, including top educational institutions, healthcare facilities and retail hubs. Additionally, Kandivali East is near major industrial estates like Mahindra & Mahindra, making it an important employment zone that supports numerous enterprises.
Flats for Sale in Kandivali East, Mumbai
5. Goregaon West, Mumbai
Goregaon West is a high-end locality located on the Western Express Highway. It offers a combination of modern independent houses and builder floors. Some of its prominent projects include Kalpataru Allura, Suburbina Cooperative Housing, and Suntek City. It boasts a strong physical infrastructure with excellent road connectivity and amenities. It is close to Goregaon Railway Station and Mumbai International Airport. Moreover, Goregaon West also benefits from its closeness to prominent employment hubs such as Malad, Andheri East, and Powai, making it a convenient residential choice for professionals working in these areas.
Flats for Sale in Goregaon West, Mumbai
About Mumbai
Mumbai is a melting pot of culture and traditions, and people flock from all over to chase their dreams. Taking pride in the majestic Gateway of India and the mesmerising Marine Drive, this city along the Arabian Sea boasts magnificent architectural structures and an upscale modern lifestyle. With its rapid development, it has recently witnessed significant enhancement in the living standards of its dwellers. Its growing real estate market, excellent connectivity and exemplary infrastructure offer lucrative options for homeowners and investors. Moreover, the network of local trains and extensive metro ensure seamless travel across the city. Excelling in every aspect of connectivity, amenities, and infrastructure, Mumbai stands as the best choice for real estate investment.
Here are some of the useful information about the city:
State | Maharashtra |
Area | 603.4 sq. km. |
GDP | 310 Billion |
Official Language | Marathi |
Population | 21,673,000 |
Sub Registrar Office | https://igrmaharashtra.gov.in/Home |
Online Property Details | https://mumbaisuburban.gov.in/service/land-records/ |
Current Circle Rate in Mumbai
The Circle Rate or Annual Statement of Rates in Mumbai is updated yearly towards the end of March. For 2024, the Government of Maharashtra resolved not to increase the circle rate in Mumbai.
The circle rates of the best localities in Mumbai are as follows:
Locality | Circle Rate (Per Sq. Km.) |
Malad West | Rs 98,900 - 1.71 lakhs |
Sion | Rs 1.28- 2.33 lakhs |
Kandivali East | Rs 42,9000 - 1.69 lakhs |
Goregaon West | Rs 68,700 - 1.77 lakhs |
Stamp Duty and Property Registration Charge in Mumbai
Under the Maharashtra Stamp 1958, the stamp duty and property registration charges in the city of Mumbai depends on various factors such as the location and type of property, owners’s gender, current market value and the age of the property. The following table highlights the stamp duty in Mumbai:
Owner's Gender | Registration Fees (%) for Property up to ₹30 Lakh | Stamp Duty (% of Market Value) |
Male | 1% | 6% |
Female | 1% | 5% |
Male and Female | 1% | 6% |
Male and Male | 1% | 6% |
Mumbai Real Estate Market Trend
The Mumbai real estate market has seen significant growth in recent years owing to its strong job market and the presence of major companies and the Bollywood industry. During the first three months of 2024, the prices of homes increased by 5% due to the increasing demand. Until the end of 2023, Mumbai remained at the top of the residential market in India, with transactions worth Rs 39,170 crores. Mumbai boasts multiple new residential projects, such as Lodha Woods in Kandivali East and Oberoi Springs in Andheri West. Areas like Malad, Kandivali, and Goregaon are popular because they are close to business centres and have good infrastructure. Most potential home buyers seek homes with good infrastructure and mid-range properties.
Property Tax Charge in Mumbai
The Municipal Corporation of Greater Mumbai levy property tax on property owners in Mumbai based on various factors such as location, type, and usage of the property. Mumbai property owners must pay this tax annually, contributing to the city's infrastructure and maintenance.
FAQ's
1. Which is the best place to buy a flat in Mumbai?
The best places to buy a flat in Mumbai include Malad West, Sion, Mira Road, Kandivali East and Goregaon West.
2. Why are Mumbai flats so expensive?
Mumbai flats are quite expensive compared to other cities due to various factors including, high demand, location, infrastructures and top-tier amenities.
3. What should you check before buying a flat in Mumbai?
Before buying a flat in Mumbai, check the location, connectivity, infrastructure, builder information, and maintenance costs and verify all the legal documents.
4. Which is the best society in Mumbai for buying a flat?
5. What are the types of flats for sale in Mumbai?
The types of flats for sale in Mumbai include apartments in different configurations.
