Property Rates in Mazgaon, Mumbai 2026

As of September 2026, the average asking price in Mazgaon stands at ₹41,350 per sq ft, which is notably higher than the Government Registration Rate of ₹22,900 per sq ft. This gap between the market-driven asking price and the government-notified rate is a common characteristic in prime urban areas, and buyers should account for this difference when calculating stamp duty and registration costs.

Property prices in Mazgaon have shown a positive trajectory, with the location rate rising from ₹40,200 per sq ft in March 2026 to ₹44,500 per sq ft by September 2026. This upward trend suggests a resilient market environment, supported by consistent interest from both end-users and investors looking to secure assets in this well-connected part of Mumbai.

Property rates in Mazgaon vary significantly when compared to surrounding areas. For instance, Tardeo commands a much higher average of ₹89,400 per sq ft, having appreciated by 20.86% from June 2025 to September 2026, while more accessible areas like Byculla East are priced at ₹32,550 per sq ft, which has seen a depreciation of 7.72% over the same period. These variations highlight the diverse investment profiles available within the South Mumbai region.

Property prices in Mazgaon are segmented by construction status, with 'Under Construction' projects averaging ₹38,600 per sq ft as of September 2026, marking an appreciation of 11.07% compared to previous cycles. Meanwhile, 'Ready To Move' properties are priced at ₹35,800 per sq ft, reflecting a 9.41% appreciation, while 'New Launch' projects are available at ₹33,350 per sq ft, showing a 4.32% appreciation. This data suggests that buyers are currently placing a premium on under-construction assets, likely due to modern amenities or newer project specifications.

The average rental yield in Mazgaon is 3.40% as of September 2026, with an average rental rate of ₹117 per sq ft. This yield provides a baseline for investors to evaluate the income-generating potential of their property relative to the capital investment required for purchase. A yield of 3.40% in a prime location like Mazgaon is a key metric for those balancing long-term capital appreciation with consistent monthly rental returns.

As of September 2026, rental rates in Mazgaon are tiered by unit size: 1 BHK apartments average ₹49,850 per month, 2 BHK apartments average ₹67,100 per month, and 3 BHK apartments command an average of ₹1.37 Lakh per month. These figures help tenants and landlords understand the market positioning of various apartment sizes, with larger units naturally attracting higher absolute monthly rents due to their increased square footage.

Among the top rental projects in Mazgaon, Sarkar Tower leads with a rental rate of ₹160 per sq ft, followed by Infinity Apartments at ₹156 per sq ft and Shreepati Coronet at ₹135 per sq ft as of September 2026. Notably, Atul Wallace Fortuna has seen a significant appreciation of 16.81% in its rental rate, while other top projects have maintained stable rental pricing, reflecting consistent demand for premium residential spaces in the locality.

Buyers should use the property rate data for Mazgaon to benchmark their investment against current market averages and historical trends. By observing the appreciation rates—such as the 7.63% increase in apartment pricing from previous periods to September 2026—investors can gauge the growth potential of the area. Additionally, comparing the 'Ready To Move' price of ₹35,800 per sq ft against 'Under Construction' rates helps in deciding whether to prioritize immediate occupancy or potential future value gains.

The property market in Mazgaon features a mix of developers, with Prince Aly Khan Hospital leading in transaction activity with 2 recorded transactions as of September 2026. Other active players include P Square Builders And Developer, Shree Laxmi Developers, Noma Infra, Hemali Investments And Finance, Atul Projects India Ltd, and Vibrant Developers, each contributing to the local supply with their respective projects.