Mumbai
Gulmohar Road stands as a premium residential destination in Mumbai, currently witnessing stable property values for apartment units. The market shows resilience, with property rates hovering around ₹57,050 per sq ft throughout recent quarters. Rental demand is equally robust, supported by diverse options across nearby localities like Juhu, Munshi Nagar, and Nutan Laxmi Society. With rental rates reaching as high as ₹200 per sq ft in key pockets, the area offers attractive prospects for those looking at income-generating assets.
The average asking price in Gulmohar Road is ₹57,050 per sq ft as of June 2026. This figure reflects a market depreciation of 1.41% compared to the previous period, suggesting a slight softening in seller expectations or market adjustments in this specific locality.
Property prices in Gulmohar Road have shown a fluctuating trajectory over the past year, moving from ₹56,950 per sq ft in September 2025 to a peak of ₹57,900 per sq ft in March 2026, before settling at ₹57,050 per sq ft in June 2026. This trend indicates a period of price consolidation following the growth observed in the first quarter of 2026.
Gulmohar Road, with an average asking price of ₹57,050 per sq ft as of June 2026, remains a premium pocket when compared to several surrounding areas. For instance, nearby localities like Juhu command ₹60,650 per sq ft, whereas areas such as Vile Parle West at ₹49,800 per sq ft, Andheri West at ₹41,400 per sq ft, and Versova at ₹45,000 per sq ft offer different price entry points for buyers looking in the broader vicinity.
Rental rates in the vicinity of Gulmohar Road show significant variation, with areas like Munshi Nagar and Nutan Laxmi Society commanding higher rates of ₹200 per sq ft as of June 2026. In contrast, locations such as Gulmohar Colony and Vithal Nagar are currently priced at ₹100 per sq ft, reflecting the diverse rental landscape and tenant demand profiles across these neighbouring micro-markets.
As of June 2026, Munshi Nagar has experienced a notable rental appreciation of 9.26%, while DN Nagar has seen a 7.96% increase compared to the prior period. Conversely, Irla has witnessed a rental depreciation of 8.93%, and Gulmohar Colony has seen a decline of 3.45%, highlighting how rental demand can shift rapidly across these specific pockets.
The residential market in Gulmohar Road is primarily composed of apartment-style properties. As of June 2026, the average asking price for these apartments stands at ₹57,050 per sq ft, which represents a 1.41% depreciation compared to the previous period, reflecting the current supply and demand dynamics for this property type in the locality.
A prospective buyer should view the price movement in Gulmohar Road as a stabilization phase following the growth seen up to March 2026. With the current rate at ₹57,050 per sq ft as of June 2026, the 1.41% depreciation from the previous quarter suggests that the market is currently in a phase of price correction, which may provide a more balanced environment for those looking to enter this premium locality.
