Mumbai
Prabhadevi maintains its stature as one of Mumbai's most sought-after residential addresses, characterized by high-end property values and a robust rental market. Current data shows asking prices reaching ₹67,900 per sq ft, while registration rates provide a stable baseline for transactions. The rental sector is particularly active, with an average yield of 3.91% and diverse options ranging from compact studio apartments to expansive 5 BHK homes. Developers are actively catering to premium demand, with recent project launches adding significant value to the local landscape.
As of September 2026, the average asking price in Prabhadevi stands at ₹67,900 per sq ft. This figure reflects a significant market appreciation of 8.02% compared to previous periods, indicating robust demand and sustained interest in this premium South Mumbai location.
The average asking price in Prabhadevi is currently ₹67,900 per sq ft, whereas the Government Registration Rate is ₹38,850 per sq ft. This gap between the market-driven asking price and the government-notified rate is a common characteristic in high-demand urban markets, with the registration rate based on transaction data recorded between November 2025 and October 2026.
Property prices in Prabhadevi vary significantly by project status as of September 2026. Ready-to-move projects are priced at ₹52,050 per sq ft, having appreciated by 5.43% over the comparison period. In contrast, under-construction projects command a higher average of ₹66,200 per sq ft, showing a notable appreciation of 15.13%. New launch projects are currently priced at ₹67,450 per sq ft, reflecting a sharp appreciation of 38.49%, while partially ready-to-move projects lead the segment at ₹74,250 per sq ft, following an appreciation of 13.51%.
Rental rates in Prabhadevi scale significantly with unit size, reflecting the area's premium status. As of September 2026, a Studio apartment averages ₹35,150 per month, while a 1 BHK unit averages ₹60,950 per month. Larger configurations command higher premiums: 2 BHK units average ₹1.34 Lakh per month, 3 BHK units ₹4.03 Lakh per month, 4 BHK units ₹5.65 Lakh per month, and 5 BHK units reach an average of ₹8.24 Lakh per month.
Prabhadevi currently offers a rental yield of 3.91% as of September 2026, with the overall average rental rate at ₹221 per sq ft. This rental rate has seen an appreciation of 10.5% compared to the previous period. For investors, a yield of 3.91% provides a benchmark for annual rental income relative to the capital investment, helping to evaluate the attractiveness of residential assets in this high-value micromarket.
As of September 2026, the projects commanding the highest rental rates in Prabhadevi include Raheja Princess at ₹285 per sq ft (stable at 0% change), Rohan Lifescapes Aquino at ₹261 per sq ft (appreciating by 1.16%), and Moon Reach at ₹256 per sq ft (which saw a significant appreciation of 104.8%). Other notable premium rental projects include Twin Towers and Chaitanya Tower, both at ₹253 per sq ft, reflecting the area's strong appeal for high-end tenants.
Rental rates in the vicinity of Prabhadevi show diverse trends as of September 2026. Areas like Gokhale Road, Century Mills, and Empire Mill command premium rates of ₹250 per sq ft. Conversely, locations like Century Bazar and Agar Bazar are currently at ₹150 per sq ft, with Century Bazar seeing a depreciation of 27.45% and Agar Bazar a depreciation of 36.55% over the observed period. Dighe Nagar stands out with a rental rate of ₹200 per sq ft, having appreciated by 11.11%.
As of September 2026, the projects with the highest listing rates in Prabhadevi include Suraj Ocean Star 1 at ₹1 Lakh per sq ft (appreciating by 63.49%), followed by Prabhadevi Industrial Estate at ₹97,100 per sq ft (stable at 0% change), and Hubtown 25 South at ₹97,050 per sq ft (appreciating by 58.65%). These rates highlight the premium positioning of these specific developments within the locality.
Buyers should note that the average asking price in Prabhadevi reached ₹67,900 per sq ft as of September 2026. The price trend data shows a dynamic market; while the rate was ₹67,900 per sq ft in June 2026, it moved from ₹62,850 per sq ft in March 2026 to ₹63,900 per sq ft in December 2025. This trajectory suggests a resilient market where buyers should monitor quarterly shifts to time their entry effectively.
As of September 2026, there is a clear distinction in rental rates by property type in Prabhadevi. Office spaces command a higher average of ₹350 per sq ft, despite a depreciation of 7.61% over the period. In contrast, apartments have an average rental rate of ₹200 per sq ft, which has shown a strong appreciation of 10.5% compared to the previous period.
