Property Rates in Girgaon, Mumbai 2026

Property rates in Girgaon vary by project status as of September 2026: Ready To Move projects are priced at ₹40,000 per sq ft, reflecting a depreciation of 4.32% from the previous period, while Under Construction projects are priced at ₹43,250 per sq ft, which has appreciated by 8.27%. Additionally, Partially Ready To Move projects command ₹49,450 per sq ft, showing a notable appreciation of 29.12%. These variations suggest that buyers are currently paying a premium for projects that are nearing completion or are in the construction phase compared to some established ready-to-move stock.

The average rental rate in Girgaon is ₹150 per sq ft as of September 2026, which has depreciated by 4.46% from the previous period. While this indicates a slight softening in rental demand, the locality remains a highly sought-after residential hub in South Mumbai, supported by its proximity to key business and lifestyle districts.

Rental rates in Girgaon are segmented by unit size as of September 2026: 1 BHK apartments average ₹52,550 per month, 2 BHK apartments average ₹1.21 Lakh per month, and 3 BHK apartments average ₹2.43 Lakh per month. This tiered pricing structure allows tenants to choose options based on their space requirements and budget, while providing landlords with a clear understanding of the income potential across different apartment configurations.

As of September 2026, premium rental projects in Girgaon include Unity House Girgaon and Bhagya Laxmi Apartment Giragaon, both commanding ₹200 per sq ft. Other notable projects include Purav Heights at ₹181 per sq ft and Bhagwan Arab Building at ₹178 per sq ft. The project 232 Dhuleva has also seen a significant rental appreciation of 43.52% compared to the previous period, bringing its current rate to ₹155 per sq ft, indicating rising tenant interest in specific high-value buildings.

Rental rates in the vicinity of Girgaon show significant variation as of September 2026. Gamdevi and Babulnath lead the market with rates of ₹250 per sq ft, with Babulnath experiencing a substantial appreciation of 63.4% and Gamdevi rising by 37.5% compared to the previous period. In contrast, areas like Kamathipura and Dalal Estate are more accessible at ₹150 per sq ft, showing stable growth, while Marine Drive and Grant Road maintain a steady rate of ₹200 per sq ft.

The Government Registration Rate in Girgaon is ₹25,900 per sq ft for the period between November 2025 and October 2026, based on 146 registered transactions totaling ₹277 Cr. Investors should use this figure as a baseline for understanding the official valuation of properties in the area, which often differs from the current market asking prices. Comparing this rate to the prevailing market rates helps in assessing the gap between official transaction values and current seller expectations.

Raj Developers leads the activity in Girgaon with 5 recorded transactions, followed by Lakadawala Developers, Sanghvi Group, Parth Constructions, and Shagun Construction, each with 1 transaction as of September 2026. This concentration of activity suggests that Raj Developers maintains a strong market presence, which can be a key signal for buyers looking for developers with a proven track record of successful project closures in the locality.

Property prices in the Girgaon micromarket have shown a mixed trajectory leading up to September 2026. After reaching a peak of ₹46,350 per sq ft in December 2025 and March 2026, the rate softened to ₹40,300 per sq ft in June 2026. This fluctuation indicates a period of market adjustment, providing potential buyers with a window to evaluate projects at a more moderate price point compared to the highs seen earlier in the year.

As of September 2026, Altamount Road is the most premium nearby locality with an average asking price of ₹1.35 Lakh per sq ft, having appreciated by 3.31%. Papanas Wadi follows at ₹1.21 Lakh per sq ft with stable pricing, while Walkeshwar and Tardeo are also high-value areas at ₹92,650 per sq ft and ₹89,400 per sq ft, respectively. Tardeo, in particular, has shown strong growth with an appreciation of 20.86% compared to the previous period, reflecting its rising status as a luxury residential destination.