Property Rates in Mumbai 2026

Property prices in Mumbai have shown a mixed trajectory over the past year. As of Sep 2026, the city rate is ₹38,200 per sq ft, fluctuating from ₹37,700 per sq ft in Jun 2026, ₹38,600 per sq ft in Mar 2026, and ₹37,700 per sq ft in Dec 2025. These variations suggest a dynamic market environment where demand and supply factors continue to influence pricing quarter-over-quarter.

Property rates vary significantly across Mumbai's micromarkets, with Mumbai South commanding the highest average asking price at ₹40,300 per sq ft, despite a depreciation of 13.13% compared to the previous period. Mumbai Harbour follows with an average asking price of ₹39,650 per sq ft, having appreciated by 6.47%. Meanwhile, Mumbai Western Suburbs and Mumbai Central Suburbs report average asking prices of ₹35,900 per sq ft (up by 2.86%) and ₹32,400 per sq ft (down by 1.81%) respectively, reflecting diverse investment profiles across the city.

The average asking price in Mumbai is ₹37,700 per sq ft, whereas the Government Registration Rate is ₹18,300 per sq ft. This gap between the market-driven asking price and the government-benchmarked registration rate is a critical metric for buyers to consider when evaluating the total cost of acquisition and tax implications during property transactions.

Property status significantly impacts pricing in Mumbai, with Ready To Move properties averaging ₹32,200 per sq ft, which has appreciated by 2.62% compared to the previous period. In contrast, Under Construction properties are priced at ₹36,400 per sq ft, showing a notable appreciation of 10.77%, while New Launch projects average ₹34,000 per sq ft, having appreciated by 5.11%. These trends suggest that buyers are willing to pay a premium for projects currently under development compared to some established ready-to-move stock.

HDIL leads the market in terms of transaction volume with 23 recorded transactions, followed by Rashmi Housing Pvt Ltd with 13 transactions. Other prominent developers by transaction count include Kalpataru and Ravi Group, both with 9 transactions, and Veena Developers, Dosti Group, and Unique Shanti Developers Pvt Ltd, each recording 8 transactions as of the latest data period.

Kalpataru holds the top position by sales value, accounting for ₹48.37 Cr across 9 transactions. Raheja Universal ranks second with a total value of ₹41.63 Cr from 6 transactions, followed by Peninsula Land with ₹36.52 Cr from 7 transactions. These figures highlight the premium positioning of these developers within the Mumbai real estate landscape.

As of Sep 2026, the average rental rate in Mumbai is ₹114 per sq ft, which has appreciated by 3.64% compared to the previous period. The city currently offers a rental yield of 3.63%, a key metric for investors to assess the potential annual income relative to the capital investment required for property purchases.

Rental rates in Mumbai scale significantly with unit size, reflecting diverse tenant needs. As of Sep 2026, a Studio apartment averages ₹28,500 per month, while a 1 BHK costs ₹47,250 per month. Larger configurations command higher premiums, with 2 BHK units at ₹85,650, 3 BHK at ₹1.89 Lakh, 4 BHK at ₹4.12 Lakh, 5 BHK at ₹6.45 Lakh, and 6 BHK units reaching ₹21.17 Lakh per month.

Rental rates in Mumbai are highest in Mumbai South at ₹200 per sq ft, which has appreciated by 1.52% compared to the previous period. In contrast, Mumbai Central Suburbs, Mumbai Harbour, and Mumbai Western Suburbs all maintain an average rental rate of ₹100 per sq ft. While Mumbai Central Suburbs saw a depreciation of 1.75% and Mumbai Western Suburbs a depreciation of 0.92%, Mumbai Harbour remained stable with no change in rental rates.

Rental rates vary widely by property type, with showrooms commanding the highest average at ₹350 per sq ft, despite a 2.75% depreciation. Office spaces average ₹200 per sq ft (up 0.46%), while shops average ₹300 per sq ft (down 1.41%). Residential apartments and villas both average ₹100 per sq ft, with apartments remaining stable and villas experiencing an 8.18% depreciation compared to the previous period.

Investors should use the provided data to balance capital appreciation potential against rental income. With an average asking price of ₹37,700 per sq ft and a rental yield of 3.63% as of Sep 2026, investors can compare these metrics against specific micromarkets like Mumbai South or Mumbai Western Suburbs to identify areas that align with their risk appetite and income goals.