Property Rates in Mumbai 2026

The average asking price in Mumbai stands at ₹37,700 per sq ft, while the Government Registration Rate is recorded at ₹18,300 per sq ft. This gap between the market-driven asking price and the government-benchmarked registration rate is a key metric for buyers to consider when evaluating the total cost of acquisition, including stamp duty and registration fees.

Property rates in Mumbai vary significantly by region; Mumbai South currently leads with an average asking price of ₹40,300 per sq ft, despite a 13.13% depreciation from the previous period. In contrast, Mumbai Central Suburbs offers a more accessible entry point at ₹32,400 per sq ft, which has seen a 1.81% depreciation. Mumbai Harbour and Mumbai Western Suburbs are priced at ₹39,650 per sq ft (up 6.47%) and ₹35,900 per sq ft (up 2.86%) respectively, reflecting diverse investment potential across the city.

As of September 2026, ready-to-move properties in Mumbai are priced at an average of ₹32,200 per sq ft, showing an appreciation of 2.62% compared to the previous period. Meanwhile, under-construction projects are currently priced at ₹36,400 per sq ft, which has seen a notable appreciation of 10.77%, indicating strong demand and confidence in upcoming developments.

The average rental yield in Mumbai is currently 3.63%, which provides a baseline for investors assessing the income-generating potential of their residential assets. With an average rental rate of ₹114 per sq ft—having appreciated by 3.64%—this yield helps investors balance the capital outlay required for purchasing property against the consistent monthly rental income they can expect to earn.

Rental rates in Mumbai scale significantly with unit size, catering to a wide range of tenant profiles. As of September 2026, a 1 BHK apartment commands an average monthly rent of ₹46,550, while a 2 BHK averages ₹83,750 per month. For larger requirements, 3 BHK units average ₹1.87 Lakh per month, and luxury 6 BHK configurations reach up to ₹21.17 Lakh per month, reflecting the premium placed on space and location within the city.

The premium rental market in Mumbai is dominated by luxury developments, primarily in Mumbai South. Oberoi Three Sixty West leads with a rental rate of ₹357 per sq ft, followed by Khatau Mansion at ₹333 per sq ft and Lodha Seamont at ₹319 per sq ft. These properties consistently command higher rents due to their prime locations in areas like Worli, Cumbala Hill, and Malabar Hill, where demand for high-end residential space remains robust.

The price trend for apartments in Mumbai has shown a slight downward trajectory, with the average rate moving from ₹38,600 per sq ft in March 2026 to ₹37,700 per sq ft by June 2026. This 2.3% depreciation over the period reflects a period of market adjustment, providing potential buyers with a window to evaluate projects at a more stable price point compared to the highs seen earlier in the year.

Rustomjee leads the market in terms of transaction volume with 25 recorded transactions, followed by Rashmi Housing Pvt Ltd and HDIL, both with 14 transactions. Other prominent developers such as MICL Group, Ravi Group, and Kalpataru also show significant activity, indicating a healthy level of buyer trust and project delivery consistency across these major real estate players in Mumbai.

Buyers should use this data to benchmark their property search against current market averages and trends. By observing the appreciation or depreciation in specific micromarkets—such as the 6.47% rise in Mumbai Harbour—and comparing the price difference between ready-to-move and under-construction units, users can identify whether they are paying fair market value and assess the long-term growth potential of their investment in Mumbai.