Property rates in Mazgaon average ₹40,200 per sq ft, reflecting a steady upward trend in the local real estate market. The area sustains a healthy rental yield of 3.49%, supported by diverse residential options ranging from established apartments to modern under-construction projects. With a consistent volume of government-registered transactions, Mazgaon continues to attract buyers seeking a blend of central location and lifestyle value, further bolstered by significant infrastructure and premium project developments.
Insights for Mazgaon, Mumbai Real Estate Market Overview
The real estate market in Mazgaon demonstrates a balanced growth trajectory, characterized by a steady increase in property values and consistent transaction activity. Investors and homeowners are increasingly drawn to the area due to its strategic location in South Mumbai, where a mix of ready-to-move and under-construction projects cater to various budget segments. Rental demand remains strong, particularly for larger residential units, providing steady yields for property owners. Recent government registration data indicates robust market participation, with high-value transactions concentrated in premium residential developments.
Average property rates currently stand at ₹40,200 per sq ft, with a positive quarterly price shift.
The rental market is active, offering an average yield of 3.49% for residential apartments.
Ready-to-move projects remain a significant segment with 64 units, while 13 under-construction developments are currently in progress.
The Aga Hall Estate leads market activity with 7 transactions, reflecting strong demand for premium residential spaces.
Rental rates for 3 BHK units average ₹1.37 Lakh per month, highlighting the premium segment's appeal.
Market Strengths
Consistent quarterly price growth reaching ₹40,200 per sq ft.
Strong rental market with an average rate of ₹117 per sq ft.
Robust transaction activity with 221 registrations valued at ₹235 Cr.
Diverse project portfolio including 64 ready-to-move units.
High buyer interest in premium projects like The Aga Hall Estate.
Strong rental demand for 1 BHK, 2 BHK, and 3 BHK apartment configurations.
Market Challenges
Advanced stage projects show a price decline of -9.48%, indicating a softening in that specific segment.
Well-occupied property prices have seen a slight downward adjustment of -1.59%.
Ready-to-move projects have experienced a minor price dip of -0.84%.
Investment Opportunities
Residential apartments offer an attractive rental yield of 3.49% for investors.
3 BHK units command a significant rental average of ₹1.37 Lakh per month.
Under-construction projects priced at ₹34,950 per sq ft present potential for future appreciation.
New launch projects at ₹31,800 per sq ft provide an entry-level investment opportunity.
Established ready-to-move inventory offers immediate rental income potential.
Price Trend
Mazgaon, Mumbai Property Price Trends and Appreciation
Mazgaon has experienced a positive price trajectory, with rates climbing from ₹39,850 per sq ft in June 2025 to ₹40,200 per sq ft by March 2026. This upward movement reflects consistent demand for residential property in the region. The steady growth pattern indicates a resilient market environment for both buyers and investors.
Mazgaon serves as a central hub with varying price points across its immediate vicinity. Byculla commands an average rate of ₹44,050 per sq ft, while nearby Nagpada stands at ₹35,100 per sq ft. Other pockets such as Agripada and Byculla East offer more accessible entry points, averaging ₹35,550 and ₹35,250 per sq ft respectively, providing a range of options for diverse buyer profiles.
Residential apartments in Mazgaon are priced at an average of ₹40,200 per sq ft, reflecting a 3.07% increase over the previous period. This segment continues to be the primary driver of the local real estate market, catering to a wide range of housing needs.
Premium residential developments in Mazgaon are setting high-value benchmarks. The Aga Hall Estate leads the segment with an asking price of ₹55,850 per sq ft, followed by Hemali Casa Emerald at ₹49,700 per sq ft. Other notable projects like Kapil Bayview and Redstone Infinity are priced at ₹48,650 and ₹48,100 per sq ft respectively, reflecting the area's growing luxury appeal.
High-value transactions in Mazgaon are dominated by The Aga Hall Estate, which leads the market with significant gross turnover. Projects like Neelam Shatrunjay Darshan and Jupiter Tower also contribute substantially to the total transaction value. These developments anchor the premium segment, consistently attracting high-net-worth buyers.
Project Name
Current Price (₹/sq.ft)
Transactions
Change %
The Aga Hall Estate, Tara Bagh
55,850
7
12.4
Sumer Park, Tara Bagh
46,800
1
-
P Square Ganga Avenue, Tara Bagh
35,550
1
-8.4
Jupiter Tower, Tadwadi
31,450
1
16.7
Neelam Shatrunjay Darshan, Tara Bagh
31,200
1
-
Hamza Tower, Ekta Nagar
30,800
1
60.4
Shubh Sandesh, Tara Bagh
30,800
1
5.7
Buyer preference is clearly visible in the transaction data, with The Aga Hall Estate securing 7 registrations, making it the most sought-after development. Other projects like Sumer Park and P Square Ganga Avenue have also recorded consistent buyer interest. This concentration of activity suggests a strong preference for established and reputable residential complexes in the locality.
Sarkar Tower leads the rental market with a rate of ₹160 per sq ft, followed closely by Infinity Apartments at ₹156 per sq ft. Projects like Shreepati Coronet and Sumer Park also remain key contributors, with rental rates ranging between ₹134 and ₹135 per sq ft.
The development landscape is driven by key players who maintain a strong presence in the locality. Prince Aly Khan Hospital leads the transaction charts with 7 registrations, followed by Sumer with 3 transactions. These developers, alongside others like Vibrant Developers and Razak Builder, play a critical role in shaping the residential supply in Mazgaon.
Government Registrations
Government Registration in Mazgaon, Mumbai
Government registration data confirms strong activity in Mazgaon, with 221 transactions recorded between June 2025 and May 2026. These transactions reached a gross value of ₹235 Cr, with an average registered rate of ₹25,200 per sq ft. Prince Aly Khan Hospital and Sumer lead the developer landscape in transaction volume, indicating active market participation from established builders.
Sales Transactions221
Gross Sales Value₹ 235 Cr
Registered Rate₹ 25,200/sq.ft
Rental Trends
Rental Trends and Average Rent in Mazgaon, Mumbai
Rental demand is robust across all configurations, with 1 BHK units averaging ₹49,300 per month. 2 BHK apartments command an average of ₹76,650 per month, while 3 BHK units reach a premium of ₹1.37 Lakh per month, reflecting the area's versatility for different tenant needs. Rental rates vary across the sub-localities, with Byculla and Nagpada both reaching ₹200 per sq ft. Tadwadi offers a more accessible rental rate at ₹100 per sq ft, while other areas like Chinchpokli and Agripada maintain a steady average of ₹150 per sq ft. Residential apartments in Mazgaon are highly sought after in the rental market, currently averaging ₹100 per sq ft. This sector has seen a positive growth of 5.41% in rental rates, indicating strong demand for apartment-style living. Sarkar Tower leads the rental market with a rate of ₹160 per sq ft, followed closely by Infinity Apartments at ₹156 per sq ft. Projects like Shreepati Coronet and Sumer Park also remain key contributors, with rental rates ranging between ₹134 and ₹135 per sq ft.
Rental demand is robust across all configurations, with 1 BHK units averaging ₹49,300 per month. 2 BHK apartments command an average of ₹76,650 per month, while 3 BHK units reach a premium of ₹1.37 Lakh per month, reflecting the area's versatility for different tenant needs.
Rental rates vary across the sub-localities, with Byculla and Nagpada both reaching ₹200 per sq ft. Tadwadi offers a more accessible rental rate at ₹100 per sq ft, while other areas like Chinchpokli and Agripada maintain a steady average of ₹150 per sq ft.
Residential apartments in Mazgaon are highly sought after in the rental market, currently averaging ₹100 per sq ft. This sector has seen a positive growth of 5.41% in rental rates, indicating strong demand for apartment-style living.
Frequently Asked Questions About Property Rates in Mazgaon, Mumbai
What is the current average asking price in Mazgaon as of March 2026?
The average asking price in Mazgaon is ₹40,200 per sq ft as of March 2026. This figure reflects an appreciation of 3.07% compared to previous periods, indicating a resilient demand for residential apartments in this locality.
How do property rates in Mazgaon compare to the Government Registration Rate?
As of March 2026, the average asking price in Mazgaon stands at ₹40,200 per sq ft, while the Government Registration Rate is recorded at ₹26,850 per sq ft. This difference highlights the gap between market-driven valuations and government-benchmarked rates, which is a common observation in established urban markets.
What is the recent price trend in Mazgaon?
The price trend in Mazgaon shows a recovery trajectory as of March 2026, with the average asking price rising to ₹40,200 per sq ft from ₹39,000 per sq ft in December 2025. This upward movement suggests strengthening buyer interest following the fluctuation seen in September 2025, when rates peaked at ₹41,150 per sq ft before a brief correction.
How do property rates vary across neighbourhoods near Mazgaon?
Property rates in the vicinity of Mazgaon show significant variation, reflecting the diverse nature of the South Mumbai real estate market as of March 2026. While Girgaon commands a premium at ₹1.16 Lakh per sq ft, having appreciated by 49.22%, other areas like Nagpada and Byculla East are priced at ₹35,100 per sq ft and ₹35,250 per sq ft, respectively. These areas have seen depreciation, with Nagpada recording an 11.81% decline and Byculla East a 7.84% decline, providing a range of entry points for different investors.
How does property status influence pricing in Mazgaon?
Pricing in Mazgaon varies significantly by project status as of March 2026. Ready To Move projects are priced at ₹32,800 per sq ft, showing a slight depreciation of 0.84%, whereas Under Construction projects command a higher average of ₹34,950 per sq ft, having appreciated by 1.82%. Partially Ready To Move projects currently hold the highest status-based rate at ₹48,650 per sq ft, reflecting a 4.62% appreciation, which suggests a premium for projects nearing completion.
What are the top projects in Mazgaon by transaction activity?
The Aga Hall Estate leads transaction activity in Mazgaon with 7 recorded transactions as of March 2026, commanding a rate of ₹55,850 per sq ft, which represents an appreciation of 12.43%. Other notable projects include Sumer Park at ₹46,800 per sq ft and P Square Ganga Avenue at ₹35,550 per sq ft, the latter of which saw a depreciation of 8.37%.
Which developers have the highest transaction activity in Mazgaon?
Prince Aly Khan Hospital is the most active developer in Mazgaon by transaction volume, accounting for 7 transactions as of March 2026. Following them is the developer Sumer with 3 transactions, while other developers such as Vibrant Developers, Razak Builder, and Neelam Realtors Pvt Ltd have each recorded 1 transaction, indicating a market with a mix of institutional and private developer activity.
What is the average rental rate and rental yield in Mazgaon?
As of March 2026, the average rental rate in Mazgaon is ₹117 per sq ft, which has appreciated by 5.41% compared to prior periods. The locality offers a rental yield of 3.49%, a metric that provides investors with a clear indicator of potential annual income relative to the capital investment required for property acquisition.
What is the BHK-wise rental pattern in Mazgaon?
Rental rates in Mazgaon as of March 2026 are tiered by unit size to cater to different tenant profiles. A 1 BHK apartment rents for an average of ₹49,300 per month, while a 2 BHK unit averages ₹76,650 per month. For larger requirements, a 3 BHK apartment commands an average rent of ₹1.37 Lakh per month, reflecting the premium associated with larger living spaces in this locality.
Which projects in Mazgaon command the highest rental rates?
As of March 2026, Sarkar Tower leads the rental market in Mazgaon with a rate of ₹160 per sq ft. Other premium rental projects include Infinity Apartments at ₹156 per sq ft and Shreepati Coronet at ₹135 per sq ft. These rates reflect the high demand for well-maintained residential complexes in the area, with Atul Wallace Fortuna notably seeing a 16.81% appreciation in its rental rate.
How should an investor interpret the rental yield and sale price data in Mazgaon?
Investors looking at Mazgaon should evaluate the 3.49% rental yield in the context of the ₹40,200 per sq ft average asking price as of March 2026. While the capital appreciation of 3.07% shows a positive trend for long-term asset growth, the rental yield provides a steady income stream, making it essential to balance the higher entry cost of premium projects like The Aga Hall Estate against the potential monthly rental returns.
Are there specific micromarkets in Mazgaon that offer better value for renters?
Rental rates vary across the Mazgaon micromarket, with Tadwadi being the most accessible at ₹100 per sq ft as of March 2026. In contrast, areas like Byculla, Nagpada, and Jacob Circle command higher rental rates of ₹200 per sq ft. Renters seeking value may find Tadwadi more economical, while those prioritizing proximity to premium hubs like Byculla may expect to pay higher rates.
