Property Rates in Lower Parel, Mumbai

Property rates in Lower Parel have shown an upward trend over the past year. The average location rate was ₹50,138 per sq ft in Jun 2025, increasing to ₹53,793 per sq ft by Dec 2025, and further to ₹56,962 per sq ft as of Mar 2026. This consistent rise suggests growing demand or limited supply in the area.

As of Mar 2026, the average asking price in Lower Parel stands at ₹56,962 per sq ft, while the Government Registration Rate is ₹35,310 per sq ft. This indicates a significant difference, with asking prices being considerably higher than the registered values.

Property prices vary significantly across neighbourhoods near Lower Parel. As of Mar 2026, Worli has the highest average rate at ₹74,027 per sq ft, appreciating by 12.66% from the previous period. In contrast, Ghodapdeo and Chinchpokli show lower rates, with Ghodapdeo at ₹36,827 per sq ft and Chinchpokli at ₹39,821 per sq ft, both showing stable prices with 0% change.

As of Mar 2026, apartments in Lower Parel have an average price of ₹56,962 per sq ft, appreciating by 5.89%. Office spaces in the area are priced higher, averaging ₹59,089 per sq ft, and have seen a substantial appreciation of 17.53%.

In Lower Parel, as of Mar 2026, 'Ready To Move' properties are priced at an average of ₹46,474 per sq ft, showing a depreciation of 3.95%. 'Under Construction' properties are slightly higher at ₹45,595 per sq ft, with a depreciation of 1.35%. 'New Launch' properties are priced at ₹39,545 per sq ft, having appreciated by 4.08%.

Lodha The Park in Kamala Mill, Lower Parel, recorded the highest number of transactions with 9 units, and its rate appreciated by 11.18% to ₹62,025 per sq ft. Mahalaxmi CHS Parel and Raheja Imperia also show significant transaction activity with 5 and 4 transactions respectively.

Lodha The Park leads in terms of value in Lower Parel, with a total sale value of ₹55.87 Cr and a current rate of ₹62,025 per sq ft, appreciating by 11.18%. Raheja Imperia and Lodha World Tower are also among the top high-value projects, with sale values of ₹48.2 Cr and ₹34.39 Cr respectively.

Lodha is the most active developer in Lower Parel, with 20 transactions recorded. Mhada follows with 15 transactions, and Raheja Universal is third with 7 transactions, indicating their significant presence and activity in the Lower Parel market.

As of Mar 2026, the average rental rate in Lower Parel is ₹194 per sq ft, with a rental yield of 4.09%. This yield suggests the potential return on investment for property owners renting out their units in the area.

Rental rates in Lower Parel show a clear progression with the number of bedrooms. Studio apartments average ₹32,667 per month, while 1 BHK units are around ₹50,778 per month. Larger configurations like 3 BHK command ₹3.64 Lakh per month, and 5 BHK units can reach up to ₹7.23 Lakh per month, reflecting demand for varied living spaces.

Among the micromarkets near Lower Parel, Upper Worli shows the highest average rental rate at ₹269 per sq ft, despite a recent depreciation of 5.28%. Kamala Mill and Empire Mill also command premium rental rates at ₹261 per sq ft and ₹257 per sq ft, respectively, with both appreciating slightly.

As of Mar 2026, apartments in Lower Parel have an average rental rate of ₹194 per sq ft, showing an appreciation of 8.99%. Office spaces are priced higher for rent at ₹308 per sq ft, but have depreciated by 7.51%, while shops are the highest at ₹348 per sq ft, with a depreciation of 8.18%.

Ashford Casa Grande leads in rental rates among top projects in Lower Parel at ₹229 per sq ft, appreciating by 7.51%. Mittal Phoenix Towers follows with ₹220 per sq ft and stable rates. Indiabulls Sky and Raheja Atlantis Mumbai also feature with rental rates of ₹216 per sq ft and ₹215 per sq ft respectively, showing positive rental appreciation.