The real estate prices are fast increasing in Indian metro cities, especially for the residential properties and Mumbai leads this race. So, if you’re looking to buy a home in Mumbai, be ready for a hefty budget.
If you’re looking to buy a 3 BHK, 2 BHK, or studio apartment in Mumbai, this article is a must read for you.
There are many factors that determine the cost including location, size, age of the property and amenities.
According to CNBC18, Prices range from ₹ 20,000 to ₹ 7 lakh per square foot in Mumbai these days, which varies based on the locality and property type.
2025 Mumbai Property Price Trends
Here is a news roundup for the current price trends in Mumbai.
- Mumbai saw a 10-15% YoY price increase in residential property rates in 2025, with some premium areas registering even higher spikes of up to 20%.
- The city accounted for over 25% of all luxury housing launches in India during Q2 2025. It is mainly driven by strong demand from investors and NRIs.
- Average home loan interest rates in August 2025 are around 8.5% to 9.25%, which is slightly up from January & February rates this year.
Residential Property Price Stats
- The average price per sq ft in Mumbai now ranges from ₹20,000 in suburbs to over ₹7 lakh in luxury South Mumbai towers.
- Inventory overhang has fallen. As of August 2025, Mumbai’s unsold housing stock declined by about 5% YoY, signaling robust demand.
- In Q2 2025, Mumbai witnessed over 7,200 new residential launches, with Bandra, Powai, and Mulund among top contributors.
So, the Mumbai real estate market is literally on fire.
Here are the estimated prices for 3 and 2 BHK flats and studio apartments across different parts of Mumbai, as per the average listing price mentioned by the leading property website 99acres.com.
The latest infrastructure drive in Mumbai and revival of Bollywood is mainly responsible for taking the luxury Real estate in Mumbai to new heights.
Prices of a 3 BHK apartment in Mumbai
Suburban Areas
If you’re looking for a 3 BHK flat in relatively affordable suburbs like Bhandup, Borivali, Dahisar, Ghatkopar, and Mulund, it will cost you approximately 1,000-1,500 sqft carpet area. So, the flat will typically cost you between ₹ 2.5 crore and ₹ 7 crore. Prices per square foot range from ₹ 15,000 to ₹ 45,000.
Mid-Tier Areas
A 3 BHK flat in areas such as Andheri, Bandra, Juhu, Khar, & Versova costs between ₹3 crore and ₹13 crore, with per-square-foot rates ranging from ₹25,000 to over ₹1 lakh.
Premium Areas
A 3 BHK with 1,200–1,500 sqft space in premium areas such as Lower Parel, Malabar Hill, & Worli can range from ₹9 crore to ₹30 crore or more for luxury projects. The per square foot price in these neighborhoods can range between ₹35,000 to ₹1.3 lakh.
Prices of a 2 BHK apartment in Mumbai
Suburban Areas
A 2 BHK flat in suburban areas such as Bhandup, Mira Road, Navi Mumbai, and Thane costs between ₹25 lakh and ₹4 crore, with per-square-foot rates of ₹2,000– ₹50,000.
Mid-Tier Areas
The cost for a 2 BHK property in Andheri, Kandivali and Powai can range from ₹55 lakh to ₹10 crore. The per-square-foot cost can range between ₹8,500 and ₹75,000.
Premium Areas
A 2 BHK flat in premium areas such as Bandra, Juhu and other parts of South Mumbai can cost ₹4 crore to ₹10 crore and more.
Prices of a Studio Apartment in Mumbai
Suburban Areas
Studio apartments in suburban areas such as Borivali, Dahisar, and Mulund are priced between ₹35 lakh and ₹75 lakh, with per-square-foot rates of ₹20,000 to ₹30,000.
Emerging Areas
The rapidly developing areas such as Navi Mumbai and Thane offer studios in the ₹10-80 lakh range, especially in older buildings or new projects in developing suburbs.
Facts by Apartment Type
3 BHK Apartments
Here is a synopsis across different parts of Mumbai.
- Suburban Areas: Apartments in Dahisar, Borivali, Ghatkopar, Mulund, and Bhandup are available at ₹2.5 – ₹7 crore. So, the rates range from ₹15,000 to ₹45,000/sq ft, driven by ongoing infrastructure upgrades such as Metro Link and Coastal Road.
- Mid-Tier Areas: Andheri, Juhu, Bandra, Khar, Versova apartments fetch ₹3-13 crore, with rising demand from young professionals.
- Premium: Malabar Hill, Worli, Lower Parel units usually fall between ₹9-30 crore, and luxury projects continue to break per sq ft price records, touching ₹1.3 lakh per sq ft.
2 BHK Apartments
- Suburban Areas: The 2BHK apartments in Thane, Navi Mumbai, and Mira Road, are priced between ₹25 lakh and ₹4 crore with a rate of ₹2,000-₹50,000 per sq ft.
- Mid-Tier Areas: The flats in Andheri, Powai, and Kandivali command ₹55 lakh -10 crore.
- Premium: The 2 BHK apartments in South Mumbai, Bandra,and Juhu are often above ₹4 crore due to limited new supply and persistent high demand.
Studio Apartments
- Suburban Areas: Studio apartments in Dahisar, Borivali, and Mulund are priced between ₹35 and 75 lakh with a rate of ₹20,000 and ₹30,000 per sq ft.
- Emerging Areas: Studio apartments in Navi Mumbai and Thane range between ₹10–80 lakh, with new projects catering to first-time buyers and urban professionals.
Trending News in Mumbai Real Estate (August 2025)
- Top builders such as Lodha, Oberoi, and Godrej launched several luxury towers amid a surge in demand for premium homes.
- The forthcoming Mumbai Metro expansions and new coastal road have also sparked a price boom in northern and eastern suburbs, with Sion, Bhandup, and Ghatkopar witnessing a 12-15% price bump this year.
- High stamp duty and registration fees remain controversial, accounting for 6% of property value on average.
- Rental yields in Mumbai are low with 1.8%–3.1% for most segments, prompting investors to prefer capital appreciation over rental returns.
Mumbai Real Estate Quick Facts (2025)
- Average apartment size for new launches: 980 sq ft which is down from 1,150 sq ft in 2020.
- Share of luxury launches: It increased by 22% in 2025, up from 16% in 2024.
- Time to sell new flats: With a median 7.2 months, it’s speedier than the national average.
Final Thoughts
Mumbai’s property market continues to set the pace for national trends on pricing, amenities, and urban housing demand in 2025. It’s amongst the fastest growing real estate markets in India apart from Bangalore. With expansion of infrastructure projects, the commuting gap between different areas is decreasing and more affordable areas are filling up housing needs.
