Property Rates in Gamdevi, Mumbai 2026

The average asking price in Gamdevi is significantly higher than the Government Registration Rate. While the current average asking price is ₹84,050 per sq ft as of June 2026, the Government Registration Rate is recorded at ₹29,500 per sq ft for the period of August 2025 to July 2026. This gap is common in premium real estate markets and reflects the difference between market-driven valuation and government-notified benchmarks for stamp duty and registration purposes.

Property rates in Gamdevi have shown a consistent upward trajectory over the recent quarters. According to data from September 2025 to March 2026, the location rate moved from ₹83,950 per sq ft to ₹84,050 per sq ft, reflecting sustained demand and investor confidence in this established residential hub.

As of June 2026, property prices in Gamdevi vary by construction status, with Ready To Move units averaging ₹63,300 per sq ft, which has appreciated by 5.98% over the compared period. In contrast, Under Construction projects are priced at a premium, averaging ₹87,750 per sq ft, though this segment saw a depreciation of 1.41% compared to the previous period, likely reflecting a market correction or adjustment in developer pricing strategies.

As of June 2026, Shapoorji Pallonji The Odyssey leads the market with a listing rate of ₹87,750 per sq ft, despite a 1.41% depreciation compared to the previous period. Other premium projects include Shapoorji Pallonji JK Tower at ₹82,150 per sq ft (appreciating by 1.49%) and Kalpataru Umang at ₹81,950 per sq ft (appreciating by 1.08%), showcasing the high-value nature of residential developments in the area.

The average rental yield in Gamdevi is 2.51% as of June 2026, with an average rental rate of ₹176 per sq ft. For investors, this yield provides a baseline for the annual income potential relative to the capital investment, which is essential when balancing the high entry cost of property in this prime South Mumbai locality against long-term rental returns.

As of June 2026, rental rates in Gamdevi are segmented by unit size, with 2 BHK apartments averaging ₹1.31 Lakh per month and 3 BHK apartments commanding an average of ₹3.41 Lakh per month. These figures reflect the premium nature of the locality and the high demand for spacious, well-located residential units among tenants.

Rental rates in areas surrounding Gamdevi show significant variation, with Malabar Hill and Walkeshwar commanding the highest rates at ₹250 per sq ft. Other areas like Grant Road, Altamount Road, Kemps Corner, and Tardeo maintain a consistent rate of ₹200 per sq ft, while Girgaum Chowpatty, Babulnath, Gowalia Tank, and Girgaon are priced at ₹150 per sq ft. Notably, Walkeshwar saw an appreciation of 18.95% in rental rates, while Malabar Hill experienced a slight depreciation of 0.85% over the same period.

As of June 2026, the top projects by rental rates in Gamdevi include Sumer Saraswati at ₹222 per sq ft and Devtaru The Island at ₹209 per sq ft, both of which have maintained stable rental pricing. Rohan Shiv Tapi follows with a rental rate of ₹135 per sq ft, highlighting the premium that specific, well-maintained residential projects command in this competitive rental market.

Potential buyers should use the data provided for June 2026 to understand the premium positioning of Gamdevi within the Mumbai South market. By comparing the average asking price of ₹84,050 per sq ft against the Government Registration Rate of ₹29,500 per sq ft and observing the price stability across property types, buyers can make informed decisions about whether to invest in Ready To Move units, which currently offer a lower entry point at ₹63,300 per sq ft compared to Under Construction projects.