Mumbai
The real estate landscape in Shri Nagar reflects a steady market supported by consistent transaction activity and a robust rental segment. Recent registration data indicates a healthy volume of deals, totaling 36 transactions with a gross value of ₹50 Cr over the past year. Rental demand is particularly strong for standard residential units, catering to a wide demographic seeking accessibility within the broader Mumbai region. The market is bolstered by its proximity to key areas such as Goregaon West and Malad West, which influence both capital and rental values.
As of June 2026, the average asking price in Shri Nagar stands at ₹35,900 per sq ft. This figure reflects a consistent upward trajectory in the locality's pricing, having increased from ₹34,900 per sq ft in March 2026, ₹34,600 per sq ft in December 2025, and ₹33,100 per sq ft in September 2025. This steady growth over the last few quarters signals resilient demand and sustained buyer interest in this micromarket.
The average asking price in Shri Nagar is currently ₹35,900 per sq ft as of June 2026, which is notably higher than the Government Registration Rate of ₹22,200 per sq ft. The Government Registration Rate is based on 36 transactions recorded between August 2025 and July 2026, with a total gross value of ₹50 Cr. Buyers should note that the market asking price often includes premiums for amenities, floor rise, and specific project positioning that may differ from the government-benchmarked valuation.
The average rental rate in Shri Nagar is ₹97 per sq ft as of June 2026. This rate has seen a depreciation of 8.49% compared to the previous period. While rental markets can fluctuate based on seasonal demand and inventory availability, this current rate provides a baseline for tenants and landlords looking to understand the prevailing cost of leasing residential space in the area.
In Shri Nagar, the typical monthly rent for a 1 BHK apartment is ₹35,000, while a 2 BHK apartment commands an average monthly rent of ₹65,000 as of June 2026. These figures help prospective tenants budget effectively and allow property owners to benchmark their rental expectations against the current market standards for these specific unit types.
Rental rates in the vicinity of Shri Nagar show significant variation, with Best Nagar commanding a premium at ₹150 per sq ft, which has appreciated by 5.04% compared to the previous period. Other nearby areas such as Goregaon West, Bangur Nagar, and Motilal Nagar maintain a consistent rental rate of ₹100 per sq ft. Notably, Motilal Nagar has seen a significant appreciation of 20.83% in its rental rates, while areas like Mahesh Nagar have experienced a depreciation of 10.31% as of June 2026.
Property prices in the areas surrounding Shri Nagar vary significantly, reflecting the diverse real estate landscape of the region. As of June 2026, Gokuldham Colony is among the higher-priced areas at ₹46,950 per sq ft, despite a depreciation of 6.47%. Conversely, Unnat Nagar offers a more accessible entry point at ₹23,850 per sq ft, with prices remaining stable. Other notable rates include Bangur Nagar at ₹36,900 per sq ft (depreciated by 0.07%) and Oshiwara at ₹36,000 per sq ft, which has seen a substantial appreciation of 18.4%.
The average rental rate for apartments in Shri Nagar is ₹100 per sq ft as of June 2026, which represents a depreciation of 9.28% compared to the previous period. This downward movement suggests a shift in the rental market dynamics, potentially due to increased supply or a cooling in short-term leasing demand. Investors and tenants should monitor these trends closely to understand the evolving affordability and income potential of residential apartments in the locality.
