Property rates in Mumbai average ₹37,700 per sq ft, reflecting a stable market environment. The city shows dynamic growth across key segments, with office spaces commanding premium interest at ₹46,150 per sq ft. Mumbai Harbour has emerged as a high-growth micromarket with a 6.47% increase in rates. With a healthy rental yield of 3.63%, investors continue to find value in the city’s diverse residential and commercial real estate landscape.
The Mumbai real estate market maintains a steady trajectory, characterized by a balanced interplay between rising capital values and consistent rental demand. Current asking prices average ₹37,700 per sq ft, supported by robust registration activity that saw 44,328 transactions valued at ₹76,050 Cr. Developers remain active, with firms like HDIL and Kalpataru driving significant transaction volumes and value, respectively. The rental market is equally vibrant, offering yields of 3.63%, while under-construction projects continue to attract significant buyer interest.
Mumbai Harbour has demonstrated strong growth, with rates increasing by 6.47%.
Office spaces represent a premium segment, currently averaging ₹46,150 per sq ft.
The ready-to-move segment remains the most liquid, with 22,220 units currently available.
Rental rates for 6 BHK apartments reach up to ₹21.17 Lakh per month, reflecting the luxury housing demand.
Government registration data highlights a substantial market turnover of ₹76,050 Cr over the past year.
Market Strengths
A massive volume of 22,220 ready-to-move units provides immediate liquidity for buyers.
The market recorded a substantial transaction value of ₹76,050 Cr, proving high investor confidence.
Office spaces are showing strong performance with a 14.59% appreciation in average rates.
Villas are a strong asset class, maintaining high interest with a 9.64% increase in rates.
Diverse rental options range from studios to 6 BHK units, catering to all tenant profiles.
Market Challenges
Mumbai South has experienced a -13.13% correction, indicating a softening in the ultra-luxury segment.
Shops have seen a -4.94% decline in average pricing, reflecting a slight cooling in retail property demand.
Upcoming project inventory is currently seeing a -6.66% adjustment in rates.
Well-occupied residential units have faced a -6.31% change in average pricing.
Investment Opportunities
Rental yields of 3.63% provide a stable return for residential property investors in Mumbai.
The 14.59% growth in office space rates highlights a strong potential for commercial investment.
Under-construction projects have seen a 10.77% increase in value, suggesting capital appreciation potential.
Mumbai Harbour's 6.47% rate growth makes it a compelling micromarket for long-term capital gains.
Top Micromarkets in Mumbai
Mumbai South
Avg Price₹ 40,300 /Sq.Ft.
YOY
-13.13 %
Avg Rent₹ 193 /Sq.Ft.
YIELD
+ 5.75
LISTINGS
10,000
Mumbai Harbour
Avg Price₹ 39,650 /Sq.Ft.
YOY
+ 6.47 %
LISTINGS
1,996
Mumbai Central Suburbs
Avg Price₹ 32,400 /Sq.Ft.
YOY
-1.81 %
Avg Rent₹ 107 /Sq.Ft.
YIELD
+ 3.96
LISTINGS
8,870
Mumbai Western Suburbs
Avg Price₹ 35,900 /Sq.Ft.
YOY
+ 2.86 %
Avg Rent₹ 105 /Sq.Ft.
YIELD
+ 3.51
LISTINGS
10,000
Price Trend
Mumbai Property Price Trends and Appreciation
Mumbai's property market has shown periodic fluctuations, with rates recorded at ₹37,700 per sq ft in December 2025 and June 2026. Price levels reached a peak of ₹38,600 per sq ft in March 2026 before settling at ₹38,200 per sq ft by September 2026. These variations underscore the market's responsiveness to seasonal buyer demand and inventory absorption.
Mumbai's real estate landscape is divided into distinct micromarkets, each with unique pricing characteristics. Mumbai South remains the most expensive area, averaging ₹40,300 per sq ft, despite a correction of -13.13%. Mumbai Harbour closely follows at ₹39,650 per sq ft, benefiting from a growth of 6.47%. Meanwhile, the Western Suburbs and Central Suburbs offer more accessible entry points at ₹35,900 per sq ft and ₹32,400 per sq ft, respectively.
Mumbai's real estate market caters to diverse buyer preferences across property categories. Commercial spaces, particularly office spaces, lead the premium segment at ₹46,150 per sq ft, experiencing a 14.59% growth. Residential options include apartments priced at ₹38,200 per sq ft with a 1.33% increase, while villas trade at ₹37,350 per sq ft, showing a 9.64% rise. Shops round out the market at ₹76,350 per sq ft, reflecting varied investment appetites.
The Mumbai market offers properties across various development stages catering to different buyer timelines. Ready To Move inventory, comprising 22,220 units, averages ₹32,200 per sq ft with a 2.62% increase, appealing to immediate occupancy seekers. Under Construction projects present 2,172 opportunities at ₹36,400 per sq ft showing a 10.77% gain, while New Launch projects offer 893 units at ₹34,000 per sq ft. This diverse supply mix enables buyers to balance possession timing with pricing preferences.
Project & Developer Insights
Top Residential Projects and Developers in Mumbai
Top Projectsin Mumbai
Arihant Aspire is the top project in Mumbai with prices from ₹ 38.00 Lac to 1.17 Cr.
Arihant Aspire
₹ 38 L - ₹ 1.17 Cr
Panvel, Navi Mumbai
LnT Crestoria Estate
₹ 1.36 Cr - ₹ 3.29 Cr
Panvel, Navi Mumbai
Hiranandani Fortune City
₹ 1.05 Cr - ₹ 3.13 Cr
Panvel, Navi Mumbai
Godrej Green Terraces
₹ 88 L - ₹ 2.3 Cr
Panvel, Navi Mumbai
Godrej Nexspace
₹ 90 L - ₹ 1.8 Cr
Panvel, Navi Mumbai
K Raheja Jade City
₹ 1.91 Cr - ₹ 3.31 Cr
Vashi, Navi Mumbai
Godrej Eternal Palms
₹ 3.51 Cr - ₹ 5.44 Cr
Vashi, Navi Mumbai
Lodha Alibaug
₹ 17.94 Cr - ₹ 17.94 Cr
Raigad, Navi Mumbai
Embassy Serenity
₹ 3.66 Cr - ₹ 4.32 Cr
Raigad, Navi Mumbai
Birla Taranya
₹ 1 Cr - ₹ 2.45 Cr
Thane City, Thane
View More
New Launch
Under Construction
Ready to Move
Top Developersin Mumbai
Lodha leads in Mumbai with 112 projects and 46 years of experience.
Lodha
₹ 67.27 L - ₹ 264.74 Cr
112 Projects
46 Years
Kalpataru
₹ 1.19 Cr - ₹ 71.98 Cr
84 Projects
57 Years
Hiranandani
₹ 1.02 Cr - ₹ 10.36 Cr
77 Projects
48 Years
Rustomjee
₹ 25.75 L - ₹ 74 Cr
70 Projects
31 Years
Runwal
₹ 86 L - ₹ 69.58 Cr
69 Projects
48 Years
Mayfair Housing
₹ 1.16 Cr - ₹ 15 Cr
53 Projects
62 Years
Godrej
₹ 1.15 Cr - ₹ 87.92 Cr
44 Projects
36 Years
Chandak
₹ 85 L - ₹ 11.11 Cr
41 Projects
40 Years
Mahindra Lifespaces
₹ 1.12 Cr - ₹ 16 Cr
36 Projects
32 Years
Shapoorji Pallonji
₹ 87.85 L - ₹ 36.57 Cr
31 Projects
161 Years
View More
Top Developers by Transaction Count and Transaction Value
The Mumbai development landscape is shaped by established builders driving transaction volumes. HDIL leads with 23 registrations, demonstrating strong market presence and brand pull. Rashmi Housing Pvt Ltd follows with 13 transactions, while Kalpataru and Ravi Group each secured 9 registrations. The top developer cohort, including Veena Developers and Dosti Group, collectively represents the market's most active and trusted builders.
High-value transactions in Mumbai are dominated by premium developers. Kalpataru leads with ₹48.37 Cr across 9 deals, positioning it as the luxury market leader. Raheja Universal recorded ₹41.63 Cr from 6 transactions, while Peninsula Land generated ₹36.52 Cr from 7 transactions. These value leaders, including HDIL and Godrej, define the premium segment and set market benchmarks.
Government Registrations
Government Registration in Mumbai
Official registration data reveals robust transaction activity in Mumbai between November 2025 and October 2026. The market recorded 44,328 transactions valued at ₹76,050 Cr with average registration rates at ₹18,300 per sq ft. Developer activity was led by HDIL and Rashmi Housing Pvt Ltd, while transaction values were dominated by Kalpataru and Raheja Universal, indicating strong market momentum.
Sales Transactions44,328
Gross Sales Value₹ 76,050 Cr
Registered Rate₹ 18,300/Sq.Ft
Recent Registered Transactions
Recent Registered Transactions in Mumbai
The market recorded 44,328 transactions with a gross value of ₹76,050 Cr. Registration rates averaged ₹18,300 per sq ft during the past year.
Date
Floor/Unit
Tower/Wing
Area
Value
Rate/Sq.Ft.
2026-10-09
Floor तळ, Unit 5
Ground
96 Sq.Ft.
2026-10-06
Unit A14
N/A
226 Sq.Ft.
2026-10-06
Floor 2, Unit 201
N/A
588 Sq.Ft.
2026-10-05
Floor 2, Unit 201
B
460 Sq.Ft.
2026-10-05
Floor 17, Unit 1702
N/A
578 Sq.Ft.
2026-10-05
Floor 13, Unit 1302
N/A
1788 Sq.Ft.
2026-10-05
Floor 3, Unit 304
A
397 Sq.Ft.
2026-10-01
Floor 4, Unit 1401
N/A
1224 Sq.Ft.
2026-10-01
Floor 11, Unit 1105
2, B
973 Sq.Ft.
2026-10-01
Floor 1, Unit 101
N/A
650 Sq.Ft.
Rental Trends
Rental Trends and Average Rent in Mumbai
Rental rates in Mumbai span from ₹28,500 per month for studio apartments to ₹21.17 Lakh per month for 6 BHK units. Larger configurations like 4 BHK and 5 BHK apartments command significant monthly rents of ₹4.12 Lakh and ₹6.45 Lakh, respectively. This tiered pricing structure reflects the broad range of residential apartment options available across the city. Mumbai South commands the highest rental rates at ₹200 per sq ft, with a 1.52% increase. In contrast, the Central Suburbs, Harbour, and Western Suburbs maintain a consistent average of ₹100 per sq ft. These rates reflect the geographic premium associated with South Mumbai compared to the suburban regions. Commercial rental demand remains high, with showrooms averaging ₹350 per sq ft and shops at ₹300 per sq ft. Office spaces follow at ₹200 per sq ft with a 0.46% increase, while residential apartments and villas average ₹100 per sq ft. Showrooms have seen a -2.75% adjustment, while villas experienced a -8.18% change.
Rental rates in Mumbai span from ₹28,500 per month for studio apartments to ₹21.17 Lakh per month for 6 BHK units. Larger configurations like 4 BHK and 5 BHK apartments command significant monthly rents of ₹4.12 Lakh and ₹6.45 Lakh, respectively. This tiered pricing structure reflects the broad range of residential apartment options available across the city.
Mumbai South commands the highest rental rates at ₹200 per sq ft, with a 1.52% increase. In contrast, the Central Suburbs, Harbour, and Western Suburbs maintain a consistent average of ₹100 per sq ft. These rates reflect the geographic premium associated with South Mumbai compared to the suburban regions.
Commercial rental demand remains high, with showrooms averaging ₹350 per sq ft and shops at ₹300 per sq ft. Office spaces follow at ₹200 per sq ft with a 0.46% increase, while residential apartments and villas average ₹100 per sq ft. Showrooms have seen a -2.75% adjustment, while villas experienced a -8.18% change.
Frequently Asked Questions About Property Rates in Mumbai
What is the current average asking price in Mumbai?
As of Sep 2026, the average asking price in Mumbai stands at ₹37,700 per sq ft. This figure reflects a depreciation of 2.3% compared to the previous period, indicating a slight market correction in the city's residential sector.
How have property prices in Mumbai trended recently?
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.
How do property rates compare across different neighbourhoods in Mumbai?
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.
What is the difference between the average asking price and the Government Registration Rate in Mumbai?
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.
How does property status influence pricing in Mumbai?
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.
Which developers have the highest transaction activity in Mumbai?
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.
Which developers lead the Mumbai market in terms of total sales value?
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.
What is the average rental rate and rental yield in Mumbai?
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.
How does the rental market vary by BHK configuration in Mumbai?
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.
How do rental rates compare across different micromarkets in Mumbai?
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.
How do rental rates differ by property type in Mumbai?
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.
How should investors interpret the property rate data for Mumbai?
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.