Property rates in Girgaon average ₹1.16 Lakh per sq ft, reflecting a significant upward trend in the local market. This prime South Mumbai location sees robust interest from buyers, supported by a healthy rental yield of 1.63%. With diverse residential options ranging from established towers to new project launches, the area remains a highly sought-after destination for those prioritizing connectivity and prestige in the heart of the city.
Insights for Girgaon, Mumbai Real Estate Market Overview
Girgaon presents a dynamic real estate landscape characterized by high premium pricing and consistent transaction activity. The market supports a variety of housing needs, from ready-to-move apartments that cater to immediate occupancy to new developments that reflect the evolving architectural standards of South Mumbai. Rental demand remains steady, with yields demonstrating the area's appeal to both investors and long-term residents. Recent government registration data confirms the area's liquidity, with hundreds of crores worth of property changing hands annually.
The average asking price for apartments has seen a notable appreciation of 49.22%.
Ready to move projects currently average ₹41,800 per sq ft, showing a positive trend of 13.99%.
Rental rates average ₹157 per sq ft, with 3 BHK units commanding monthly rents of approximately ₹2.43 Lakh.
Top developers like Raj Developers are actively driving transaction volumes within the locality.
New launch projects are entering the market at an average price point of ₹46,700 per sq ft.
Market Strengths
The 49.22% appreciation in apartment pricing confirms the high demand for residential space in Girgaon.
A diverse range of project statuses, including 148 ready-to-move units, ensures high liquidity for buyers.
Strong developer backing from firms like Raj Developers provides confidence in project completion and quality.
The area maintains a stable rental market with 3 BHK units fetching up to ₹2.43 Lakh per month.
Proximity to high-value areas like Malabar Hill and Altamount Road bolsters the long-term investment profile of the locality.
Market Challenges
High average asking prices of ₹1.16 Lakh per sq ft require significant capital commitment for new investors.
Specific established locations like Kemps Corner have experienced a -31.13% change, highlighting volatility in certain sub-pockets.
Rental rates for apartments have seen a marginal decline of -4.46%, suggesting a competitive leasing environment.
Nagpada and Walkeshwar have seen price contractions of -11.81% and -15.37% respectively, reflecting localized market corrections.
Investment Opportunities
Residential apartments show a strong 49.22% growth, marking them as a primary asset class for capital appreciation.
The 1.63% rental yield provides a consistent income stream for investors in the South Mumbai residential market.
Ready to move inventory has seen a 13.99% increase, offering immediate rental potential for new owners.
New launch projects at ₹46,700 per sq ft represent a strategic entry point for long-term capital gains.
Top Localities in Girgaon, Mumbai
Charni Road
Avg Price₹ 81,650 /Sq.Ft.
LISTINGS
2
Price Trend
Girgaon, Mumbai Property Price Trends and Appreciation
Girgaon sits within a cluster of high-value South Mumbai localities, each offering distinct price points. Altamount Road commands a premium at ₹1.31 Lakh per sq ft, while Marine Lines and Malabar Hill hover around the ₹99,900 and ₹95,700 per sq ft marks respectively. More accessible options are available in areas like Grant Road and Kemps Corner, which trade at approximately ₹55,700 and ₹55,650 per sq ft. This range allows investors to choose between ultra-luxury corridors and competitively priced pockets within the same geographic sphere.
Girgaon's residential market is defined by its apartment segment, which remains the primary driver of property transactions. With an average price of ₹1.16 Lakh per sq ft and a significant appreciation of 49.22%, apartments here represent the core investment asset. This consistent performance highlights the preference for vertical living in one of Mumbai's most established neighborhoods.
The supply in Girgaon is well-distributed, offering choices for every buyer timeline. Ready to move projects, which account for 148 units, trade at an average of ₹41,800 per sq ft, reflecting a 13.99% growth. Meanwhile, new launches are priced at ₹46,700 per sq ft, indicating a premium for modern amenities, while under construction projects offer a balanced entry point at ₹39,950 per sq ft.
Project & Developer Insights
Top Residential Projects and Developers in Girgaon
Top Projectsin Girgaon
LnT Island Cove is the top project in Girgaon with prices from ₹ 3.40 Cr to 6.34 Cr.
LnT Island Cove
₹ 3.40 Cr - ₹ 6.34 Cr
Mumbai South, Mumbai
JP Codename Matunga Origins
₹ 2.93 Cr - ₹ 4.23 Cr
Mumbai South, Mumbai
Godrej Trilogy
₹ 18.88 Cr - ₹ 29.95 Cr
Mumbai South, Mumbai
Piramal Mahalaxmi
₹ 5.45 Cr - ₹ 14.03 Cr
Mumbai South, Mumbai
Runwal Timeless
₹ 1.59 Cr - ₹ 3.4 Cr
Mumbai South, Mumbai
Kalpataru Azuro
₹ 45 Cr - ₹ 71.98 Cr
Mumbai South, Mumbai
Lodha Malabar
Price On Request
Mumbai South, Mumbai
Lodha Sea Face
Price On Request
Mumbai South, Mumbai
Prestige Ocean Towers
₹ 26 Cr - ₹ 50.68 Cr
Mumbai South, Mumbai
Godrej Carmichael
₹ 87.92 Cr - ₹ 87.92 Cr
Mumbai South, Mumbai
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New Launch
Under Construction
Ready to Move
Top Developersin Mumbai
Ruparel leads in Mumbai with 44 projects and 19 years of experience.
Luxury living in Girgaon is defined by iconic projects that command high market valuations. New Shreeniketan Building leads the premium segment with prices at ₹72,750 per sq ft, followed closely by Sumer Grande and Hubtown Realms at ₹71,200 per sq ft. Other notable developments like Rohan Lifescapes Arihant at ₹70,350 per sq ft and Unity House Girgaon at ₹68,200 per sq ft further anchor the local luxury market, offering residents high-end living in a prime location.
Unity House Girgaon and Bhagya Laxmi Apartment Giragaon lead the rental market, both commanding ₹200 per sq ft. Other projects like Purav Heights and Bhagwan Arab Building also maintain strong rental positions at ₹181 and ₹178 per sq ft, respectively, while 232 Dhuleva has seen a significant 43.52% increase in rental value.
The Girgaon development scene is spearheaded by Raj Developers, who leads the market with 5 recorded transactions. Other key players contributing to the local inventory include Lakadawala Developers, Sanghvi Group, Parth Constructions, and Shagun Construction. These developers collectively maintain the supply chain and ensure a steady pipeline of housing options for local buyers.
Government Registrations
Government Registration in Girgaon, Mumbai
Recent government registration data for Girgaon highlights a robust market, with 234 transactions totaling a gross value of ₹397 Cr. With registered rates averaging ₹23,900 per sq ft, the market demonstrates steady movement. Raj Developers has emerged as the most active player in terms of transaction volume, underscoring the trust buyers place in established builders within this region.
Sales Transactions234
Gross Sales Value₹ 397 Cr
Registered Rate₹ 23,900/Sq.Ft
Rental Trends
Rental Trends and Average Rent in Girgaon, Mumbai
Rental options in Girgaon cater to diverse needs, with 1 BHK units averaging ₹52,550 per month. Those seeking larger spaces can opt for 2 BHK units at ₹1.23 Lakh per month or 3 BHK apartments, which command an average monthly rent of ₹2.43 Lakh. Rental rates vary across the neighborhood, with Babulnath and Gamdevi commanding the highest rates at ₹250 per sq ft, reflecting increases of 63.4% and 31.82% respectively. Meanwhile, locations like Marine Drive, Grant Road, and Tardeo maintain a consistent rate of ₹200 per sq ft. More affordable leasing options are available at Girgaum Chowpatty, Kamathipura, and Dalal Estate, which average ₹150 per sq ft. Apartment rentals in Girgaon average ₹150 per sq ft. While the market remains competitive, this price point offers a stable baseline for tenants looking for residential units in this well-connected part of the city. Unity House Girgaon and Bhagya Laxmi Apartment Giragaon lead the rental market, both commanding ₹200 per sq ft. Other projects like Purav Heights and Bhagwan Arab Building also maintain strong rental positions at ₹181 and ₹178 per sq ft, respectively, while 232 Dhuleva has seen a significant 43.52% increase in rental value.
Rental options in Girgaon cater to diverse needs, with 1 BHK units averaging ₹52,550 per month. Those seeking larger spaces can opt for 2 BHK units at ₹1.23 Lakh per month or 3 BHK apartments, which command an average monthly rent of ₹2.43 Lakh.
Rental rates vary across the neighborhood, with Babulnath and Gamdevi commanding the highest rates at ₹250 per sq ft, reflecting increases of 63.4% and 31.82% respectively. Meanwhile, locations like Marine Drive, Grant Road, and Tardeo maintain a consistent rate of ₹200 per sq ft. More affordable leasing options are available at Girgaum Chowpatty, Kamathipura, and Dalal Estate, which average ₹150 per sq ft.
Apartment rentals in Girgaon average ₹150 per sq ft. While the market remains competitive, this price point offers a stable baseline for tenants looking for residential units in this well-connected part of the city.
Frequently Asked Questions About Property Rates in Girgaon, Mumbai
What is the average asking price in Girgaon as of June 2026?
As of June 2026, the average asking price in Girgaon stands at ₹1.16 Lakh per sq ft. This figure reflects a significant appreciation of 49.22% compared to the previous period, signaling strong demand and high investor confidence in this South Mumbai locality.
How do property prices in Girgaon compare to the Government Registration Rate?
The average asking price in Girgaon is currently ₹1.16 Lakh per sq ft, which is notably higher than the Government Registration Rate of ₹25,900 per sq ft. This gap between the market-driven asking price and the government-notified rate is common in premium, high-demand areas where property values often exceed base registration benchmarks.
What is the recent price trend for property in Girgaon?
Property rates in Girgaon have shown a fluctuating trajectory in recent quarters. The micromarket rate was ₹41,150 per sq ft in June 2026, following a period of relative stability at ₹46,350 per sq ft in both March 2026 and December 2025, after rising from ₹46,200 per sq ft in September 2025. These trends suggest a market currently navigating price adjustments after a period of consistency.
How do property prices vary across different project statuses in Girgaon?
As of June 2026, property prices in Girgaon vary by project status, with New Launch projects commanding the highest average at ₹46,700 per sq ft, which has appreciated by 39.6% compared to the prior period. Ready To Move properties are priced at an average of ₹41,800 per sq ft, showing an appreciation of 13.99%, while Under Construction projects are available at ₹39,950 per sq ft, reflecting a 3.39% appreciation.
What is the average rental rate and rental yield in Girgaon?
As of June 2026, the average rental rate in Girgaon is ₹157 per sq ft, which has appreciated by 12.14% compared to the previous period. The locality currently offers a rental yield of 1.63%, providing investors with a baseline for income potential relative to the capital investment required for residential apartments in this area.
What are the typical monthly rental rates for 1 BHK, 2 BHK, and 3 BHK apartments in Girgaon?
Rental rates in Girgaon are tiered by configuration to suit different tenant profiles. As of June 2026, a 1 BHK apartment typically rents for ₹52,550 per month, a 2 BHK apartment averages ₹1.23 Lakh per month, and a 3 BHK apartment commands an average of ₹2.43 Lakh per month. These figures reflect the premium nature of the South Mumbai rental market.
Which projects in Girgaon command the highest rental rates?
As of June 2026, premium projects such as Unity House Girgaon and Bhagya Laxmi Apartment Giragaon lead the market with rental rates of ₹200 per sq ft. Other notable projects include Purav Heights at ₹181 per sq ft and Bhagwan Arab Building at ₹178 per sq ft, while 232 Dhuleva has seen a significant rental appreciation of 43.52% to reach ₹155 per sq ft.
How do rental rates compare across neighbourhoods near Girgaon?
Rental rates in the vicinity of Girgaon show significant variation, with Babulnath, Gamdevi, and Kemps Corner all commanding premium rates of ₹250 per sq ft as of June 2026. In contrast, areas like Marine Drive, Grant Road, Marine Lines, and Tardeo maintain a consistent rental rate of ₹200 per sq ft, while Girgaum Chowpatty, Kamathipura, and Dalal Estate are priced at ₹150 per sq ft.
Which developers have the highest transaction activity in Girgaon?
Raj Developers currently leads the market in Girgaon with 5 recorded transactions, making them the most active developer in the area as of June 2026. Other developers with notable transaction activity include Lakadawala Developers, Sanghvi Group, Parth Constructions, and Shagun Construction, each contributing to the local market's liquidity.
How should a buyer interpret the price differences between Ready To Move and Under Construction properties in Girgaon?
Buyers in Girgaon can observe that Ready To Move properties, priced at ₹41,800 per sq ft as of June 2026, carry a premium over Under Construction units, which are priced at ₹39,950 per sq ft. This price difference often reflects the immediate availability and reduced risk associated with completed projects, whereas Under Construction properties may offer potential for capital appreciation as the project nears completion.
