Property Rates in Mumbai 2026

Property rates in Mumbai vary significantly by location, with Mumbai South commanding the highest average asking price at ₹46,350 per sq ft, which has seen a marginal appreciation of 0.06% as of August 2026. In contrast, Mumbai Harbour is priced at ₹37,250 per sq ft (up 3.41%), Mumbai Western Suburbs at ₹34,900 per sq ft (up 0.9%), and Mumbai Central Suburbs at ₹33,000 per sq ft (up 0.34%). These variations reflect the differing premium levels and infrastructure development across these key city zones.

The current rental yield in Mumbai is 3.42% as of August 2026, providing a baseline for investors to evaluate income potential against capital outlay. While the average rental rate is ₹110 per sq ft, it has seen a depreciation of 3.51% compared to the previous period, which investors should weigh against the long-term capital appreciation trends observed in the city's residential sector.

Rental rates in Mumbai scale significantly with unit size, reflecting diverse housing needs from studio apartments to luxury configurations. As of August 2026, average monthly rents range from ₹28,550 for a Studio and ₹46,350 for a 1 BHK, up to ₹84,600 for a 2 BHK and ₹1.85 Lakh for a 3 BHK. Larger luxury units command significantly higher premiums, with 4 BHK, 5 BHK, and 6 BHK units averaging ₹4.06 Lakh, ₹6.69 Lakh, and ₹10.4 Lakh per month, respectively.

As of August 2026, shop spaces have experienced the most notable growth, with an average price of ₹76,950 per sq ft, representing a significant appreciation of 17.91% compared to the previous period. Other segments show varied performance: office spaces are priced at ₹40,300 per sq ft (up 1.35%), while residential apartments have seen a depreciation of 1.42% to reach ₹38,050 per sq ft. Villas have also seen a depreciation of 3.66%, currently averaging ₹33,550 per sq ft.

As of August 2026, Ready To Move properties in Mumbai are priced at an average of ₹31,400 per sq ft, having appreciated by 2.26% over the observed period. Meanwhile, Under Construction projects are currently averaging ₹32,850 per sq ft, showing a stronger appreciation of 2.64%. This pricing dynamic suggests that buyers are willing to pay a premium for newer, under-construction inventory, likely due to modern amenities and contemporary architectural standards.

Rustomjee leads the market in transaction activity with 25 recorded transactions as of August 2026. Other prominent developers by transaction volume include Rashmi Housing Pvt Ltd and HDIL, both with 14 transactions, followed by MICL Group with 12, and both Ravi Group and Kalpataru with 11 transactions each. This high level of activity among these developers highlights their significant market share and buyer preference in the current Mumbai residential landscape.

Rental rates in Mumbai are highest in Mumbai South, where the average rental rate is ₹200 per sq ft, having appreciated by 2.07% as of August 2026. Other regions like Mumbai Central Suburbs, Mumbai Harbour, and Mumbai Western Suburbs all share a more accessible average rental rate of ₹100 per sq ft. Notably, while Mumbai Central Suburbs and Mumbai Western Suburbs have seen rental appreciation of 3.74% and 3.81% respectively, Mumbai Harbour has experienced a slight rental depreciation of 0.95%.

Between September 2025 and August 2026, Mumbai recorded a total of 62,545 registered property transactions with a gross value of ₹102,090 Cr. This high volume of registration activity serves as a key indicator of the city's robust real estate liquidity and the sustained interest from both end-users and investors in the residential sector.

Buyers should note that as of August 2026, Near Possession projects command a higher average price of ₹37,150 per sq ft compared to Ready To Move projects at ₹31,400 per sq ft. The significant 14.99% appreciation seen in Near Possession projects suggests that as projects approach completion, the perceived value and demand increase, often resulting in a price premium over units that are already fully ready and occupied.