Mumbai
The real estate market in Mazgaon presents a multifaceted picture of growth, balancing high-end residential demand with consistent rental interest. Recent price trends show a fluctuating but resilient market, with current listing rates averaging ₹40,200 per sq ft. Rental activity is particularly robust, with an average rental rate of ₹117 per sq ft supported by a healthy 3.49% yield. Government registration data confirms substantial liquidity, with 158 transactions totaling ₹166 Cr over the past year. Developers like Prince Aly Khan Hospital and Vibrant Developers are instrumental in shaping the area's ongoing residential expansion.
As of June 2026, the average asking price in Mazgaon is ₹40,200 per sq ft. This figure reflects a market that has appreciated by 3.07% compared to the previous period, indicating sustained demand and investor confidence in this South Mumbai locality.
The average asking price in Mazgaon is currently ₹40,200 per sq ft, which sits significantly higher than the Government Registration Rate of ₹23,800 per sq ft. This gap between the market-driven asking price and the government-notified rate is a common observation in established urban pockets, where property value is heavily influenced by premium amenities, project quality, and historical location value.
Property prices in Mazgaon have shown a fluctuating trajectory, with the location rate moving from ₹41,150 per sq ft in September 2025 to ₹39,000 per sq ft in December 2025, before rising to ₹40,200 per sq ft in March 2026 and reaching ₹44,300 per sq ft as of June 2026. This recent upward movement suggests a tightening of supply or increased interest in the area's residential offerings.
As of June 2026, Ready To Move properties in Mazgaon are priced at an average of ₹32,700 per sq ft, which has depreciated by 1.14% compared to the previous period. In contrast, Under Construction projects are currently priced at an average of ₹34,750 per sq ft, reflecting an appreciation of 1.21% over the same timeframe, signaling that newer developments are maintaining a premium as they progress toward completion.
The average rental yield in Mazgaon is 3.49% as of June 2026. For investors, this yield represents the annual rental income relative to the capital investment, serving as a key metric to evaluate the income-generating potential of residential assets in the area alongside potential long-term capital appreciation.
As of June 2026, rental rates in Mazgaon vary by unit size: 1 BHK apartments average ₹49,950 per month, 2 BHK units average ₹74,300 per month, and 3 BHK units command an average of ₹1.37 Lakh per month. These figures provide a clear benchmark for tenants and landlords, reflecting the premium nature of the locality and the diverse housing needs within the market.
As of June 2026, the top projects by rental rates in Mazgaon include Sarkar Tower at ₹160 per sq ft, Infinity Apartments at ₹156 per sq ft, and Shreepati Coronet at ₹135 per sq ft. Notably, Atul Wallace Fortuna has seen a significant rental appreciation of 16.81% compared to the previous period, while most other top-tier projects have maintained stable rental rates.
Rental rates in the vicinity of Mazgaon show significant variation, with Arthur Rd commanding a high of ₹250 per sq ft, while areas like Nagpada and Agripada follow at ₹200 per sq ft. In contrast, Chinchpokli offers more competitive entry points at ₹100 per sq ft, highlighting the diverse rental landscape across South Mumbai's micro-markets.
Prince Aly Khan Hospital leads the transaction activity in Mazgaon with 2 recorded transactions, followed by Vibrant Developers, Shreeji Group, Jakhubhai Lalji Dal Mills Private Limited, and Neelsidhi, each with 1 transaction. This distribution indicates a market characterized by a mix of institutional and private developer participation.
Buyers should use the June 2026 data to understand that Mazgaon is a premium market with an average asking price of ₹44,300 per sq ft for apartments, which has appreciated by 10.25% compared to the previous period. By comparing this against the Government Registration Rate of ₹23,800 per sq ft and reviewing the status-wise pricing, buyers can better assess whether they are paying a fair market value for either ready-to-move or under-construction inventory.
