Mumbai
The real estate market in Upper Govind Nagar demonstrates consistent demand, characterized by a stable pricing environment and active rental activity. Residential units remain the primary focus, with 3 BHK apartments commanding significant monthly rents, indicating a strong preference for spacious living arrangements in this part of Mumbai. Recent registration data highlights a steady flow of property transactions, underscoring the area's appeal to both end-users and investors. The rental market, in particular, has experienced a notable increase of 12.05% in average rates over the past year.
As of Jun 2026, the average asking price in Upper Govind Nagar stands at ₹35,900 per sq ft. This figure reflects a consistent upward trend in the locality, having appreciated from ₹34,900 per sq ft in Mar 2026, which indicates sustained demand and growing investor confidence in this micromarket.
Property prices in Upper Govind Nagar have shown a steady upward trajectory throughout the recent quarters. The average asking price rose from ₹33,100 per sq ft in Sep 2025 to ₹34,600 per sq ft in Dec 2025, reaching ₹34,900 per sq ft in Mar 2026, and finally settling at ₹35,900 per sq ft as of Jun 2026. This consistent quarterly growth signals a resilient market environment for property owners and investors.
The average asking price in Upper Govind Nagar is significantly higher than the Government Registration Rate. While the current average asking price is ₹35,900 per sq ft as of Jun 2026, the Government Registration Rate is recorded at ₹17,750 per sq ft for the period between Sep 2025 and Aug 2026. This gap is common in active real estate markets and typically reflects the difference between market-driven valuation and official benchmark rates used for taxation purposes.
Property rates in the vicinity of Upper Govind Nagar show significant variation depending on the specific neighbourhood. As of Jun 2026, Goregaon East commands a higher average asking price of ₹37,950 per sq ft, which has appreciated by 7.45% compared to previous periods. In contrast, areas like Unnat Nagar and Evershine Nagar offer more accessible entry points at ₹23,850 per sq ft and ₹23,900 per sq ft, respectively, both showing stable pricing with no recent change.
The average rental rate in Upper Govind Nagar is ₹93 per sq ft as of Jun 2026. This rate has seen a notable appreciation of 12.05% compared to previous periods, suggesting a strong rental market with increasing demand for residential spaces in the area.
Rental rates in Upper Govind Nagar vary significantly by property type, with commercial spaces commanding a premium. As of Jun 2026, shops are available at an average rental rate of ₹350 per sq ft, showing stable pricing with no change. Meanwhile, apartments are renting at an average of ₹100 per sq ft, which has appreciated by 3.23% compared to previous periods, reflecting a healthy demand for residential leasing.
As of Jun 2026, the average monthly rent for a 3 BHK apartment in Upper Govind Nagar is approximately ₹1.07 Lakh per month. This data point is essential for tenants looking to budget for larger residential configurations in the locality and for investors evaluating the income potential of premium housing units.
Among the areas surrounding Upper Govind Nagar, Kasam Baug stands out with a higher rental rate of ₹150 per sq ft as of Jun 2026, with pricing remaining stable. Other surrounding localities such as Panch Wadi, Mahendra Nagar, and Malad East maintain a consistent rental rate of ₹100 per sq ft. While some areas like Mahendra Nagar have seen a depreciation of 1.59%, others like Pandurang Wadi have experienced a 3% appreciation, highlighting the diverse rental dynamics across these neighbouring pockets.
