Property Rates in Mahalaxmi, Mumbai

As of March 2026, the average asking price in Mahalaxmi is ₹60,590 per sq ft, which is significantly higher than the micromarket average of ₹46,372 per sq ft. This suggests Mahalaxmi commands a premium compared to its immediate surrounding areas.

Property rates in Mahalaxmi have seen a downward trend over the past year. From a high of ₹75,399 per sq ft in June 2025, the average asking price has decreased to ₹60,590 per sq ft as of March 2026, reflecting a notable correction of 19.03% over this period.

As of May 2025 to April 2026, the average Government Registration Rate in Mahalaxmi is ₹15,900 per sq ft, while the average asking price is ₹60,590 per sq ft as of March 2026. This substantial difference indicates that the actual transaction values are considerably higher than the registered values.

As of March 2026, the average asking price for apartments in Mahalaxmi is ₹60,590 per sq ft. This rate has depreciated by 3.14% compared to the previous period, suggesting a softening in the apartment market segment.

In Mahalaxmi, property prices vary significantly by status as of March 2026. 'Project On Hold' properties are priced highest at ₹75,004 per sq ft, appreciating by 4.53%. 'Mid Stage' properties are at ₹73,665 per sq ft, with a slight appreciation of 0.63%. 'Partially Ready To Move' properties are priced at ₹72,033 per sq ft, remaining stable. In contrast, 'Ready To Move' properties are priced at ₹49,084 per sq ft, showing a depreciation of 1.45%, and 'Under Construction' properties are at ₹58,402 per sq ft, down by 2.99%.

As of March 2026, the projects with the highest listing rates in Mahalaxmi include K Raheja Vivarea at ₹83,927 per sq ft, which has seen a slight depreciation of 0.25%. Piramal Mahalaxmi North Tower is listed at ₹79,422 per sq ft, appreciating by 1.6%, followed by Runwal 7 Mahalaxmi at ₹78,252 per sq ft, showing a significant appreciation of 51.18%.

As of March 2026, the average rental rate in Mahalaxmi is ₹237 per sq ft, with an average rental yield of 4.69%. This yield indicates the potential return on investment for property owners based on current rental income relative to property values.

In Mahalaxmi, rental rates increase significantly with the number of bedrooms. As of March 2026, a 1 BHK apartment averages ₹38,500 per month, while a 2 BHK commands ₹1.71 Lakh per month. Larger configurations like 3 BHK, 4 BHK, and 5 BHK are priced at ₹3.09 Lakh, ₹4.36 Lakh, and ₹12 Lakh per month, respectively, catering to different tenant needs and budgets.

As of March 2026, apartments in Mahalaxmi have an average rental rate of ₹237 per sq ft, which has appreciated by 5.33%. Office spaces in the area are priced higher, averaging ₹365 per sq ft with stable rates.

Among the surrounding micromarkets as of March 2026, Mahalaxmi Racecourse leads with the highest average rental rate at ₹293 per sq ft, showing no change. Upper Worli follows at ₹269 per sq ft, with a depreciation of 5.28%. Conversely, Agripada has the lowest average rental rate at ₹135 per sq ft, remaining stable, followed by Chinchpokli at ₹129 per sq ft, also stable.

As of March 2026, K Raheja Vivarea Mumbai leads with a current rental rate of ₹275 per sq ft, showing a slight appreciation of 0.73%. Piramal Mahalaxmi North Tower is next at ₹271 per sq ft, having depreciated by 2.17%. K Raheja Vivarea is also listed at ₹265 per sq ft, with a depreciation of 2.21%, indicating premium rental demand in these projects.

As of March 2026, Mahalaxmi's average asking price is ₹60,590 per sq ft. This is lower than Worli's average rate of ₹74,027 per sq ft (which appreciated by 12.66%) and Tardeo's ₹73,967 per sq ft (up 12.88%). However, it is higher than Lower Parel's ₹56,962 per sq ft (which appreciated by 14.35%) and Agripada's ₹35,573 per sq ft (down 10.73%).

The significant gap between the average asking price (₹60,590 per sq ft as of March 2026) and the Government Registration Rate (₹15,900 per sq ft from May 2025 to Apr 2026) in Mahalaxmi suggests that actual property transactions may involve premiums over the officially registered value. This could be due to various market factors or negotiation dynamics.