Market data · DATA-03
Mumbai property prices: indicative bands, read honestly.
Price per square foot is the most quoted and least reliable number in Mumbai real estate. Here is how to read it, and the bands we work from.
- Basis
- Carpet area, new inventory
- Micro-markets
- 53
- Source discipline
- Registered values over asking
- Status
- Illustrative bands
The short answer
Indicative carpet-basis bands for new premium-to-mid inventory range from roughly ₹5,500 per sq ft in the outer affordable belt to above ₹1,00,000 per sq ft in the top South Mumbai and Bandra addresses. The spread within a single micro-market is often wider than the spread between neighbouring ones, which is why a specific building must be benchmarked against registered transactions for that building, not an area average.
Three reasons most price data misleads
Most circulated Mumbai price data suffers from one or more of three problems.
- It is asking-price data — systematically above what transacts and slow to fall when markets turn
- It mixes area bases — super built-up, built-up and carpet figures are not comparable
- It averages sub-markets — a micro-market average rate can be wrong for a specific street in either direction
Price is a lagging indicator
Developers hold headline rates and concede privately, so price data lags a turning market by months. Watch absorption velocity for the early signal, and treat price as confirmation.
Data
Indicative bands by micro-market.
| Micro-market | Region | Indicative band (carpet) | Pricing score |
|---|---|---|---|
| Tardeo | South Mumbai & the Central Spine | ₹65,000 – ₹1,40,000 per sq ft carpet | 96 |
| Worli | South Mumbai & the Central Spine | ₹62,000 – ₹1,20,000 per sq ft carpet | 95 |
| Bandra West | Western Suburbs | ₹48,000 – ₹1,10,000 per sq ft carpet | 92 |
| Juhu | Western Suburbs | ₹50,000 – ₹1,05,000 per sq ft carpet | 92 |
| Prabhadevi | South Mumbai & the Central Spine | ₹52,000 – ₹95,000 per sq ft carpet | 90 |
| Lower Parel | South Mumbai & the Central Spine | ₹42,000 – ₹75,000 per sq ft carpet | 88 |
| Bandra East & BKC | Western Suburbs | ₹40,000 – ₹80,000 per sq ft carpet (residential) | 88 |
| Mahalaxmi | South Mumbai & the Central Spine | ₹45,000 – ₹85,000 per sq ft carpet | 86 |
| Khar | Western Suburbs | ₹42,000 – ₹85,000 per sq ft carpet | 86 |
| Powai | Central & Eastern Suburbs | ₹28,000 – ₹52,000 per sq ft carpet | 82 |
| Santacruz West | Western Suburbs | ₹34,000 – ₹62,000 per sq ft carpet | 78 |
| Dadar | South Mumbai & the Central Spine | ₹32,000 – ₹58,000 per sq ft carpet | 76 |
| Vile Parle | Western Suburbs | ₹28,000 – ₹52,000 per sq ft carpet | 74 |
| Andheri West | Western Suburbs | ₹26,000 – ₹48,000 per sq ft carpet | 72 |
| Versova | Western Suburbs | ₹24,000 – ₹46,000 per sq ft carpet | 72 |
| Chembur | Central & Eastern Suburbs | ₹22,000 – ₹40,000 per sq ft carpet | 70 |
| Matunga | Central & Eastern Suburbs | ₹24,000 – ₹42,000 per sq ft carpet | 70 |
| Nerul | Navi Mumbai | ₹15,000 – ₹30,000 per sq ft carpet | 70 |
| Wadala | South Mumbai & the Central Spine | ₹26,000 – ₹44,000 per sq ft carpet | 68 |
| Andheri East | Western Suburbs | ₹22,000 – ₹40,000 per sq ft carpet (residential) | 68 |
| Byculla | South Mumbai & the Central Spine | ₹28,000 – ₹48,000 per sq ft carpet | 66 |
| Goregaon | Western Suburbs | ₹20,000 – ₹38,000 per sq ft carpet | 66 |
| Vikhroli | Central & Eastern Suburbs | ₹20,000 – ₹36,000 per sq ft carpet | 66 |
| Vashi | Navi Mumbai | ₹15,000 – ₹27,000 per sq ft carpet | 66 |
| Ghatkopar | Central & Eastern Suburbs | ₹19,000 – ₹35,000 per sq ft carpet | 64 |
| Mulund | Central & Eastern Suburbs | ₹19,000 – ₹34,000 per sq ft carpet | 64 |
| Sion | Central & Eastern Suburbs | ₹19,000 – ₹34,000 per sq ft carpet | 64 |
| Belapur | Navi Mumbai | ₹13,000 – ₹24,000 per sq ft carpet (residential) | 64 |
| Alibaug | MMR Growth Corridors | ₹9,000 – ₹25,000 per sq ft built (villas); land on a separate basis | 64 |
| Malad | Western Suburbs | ₹17,000 – ₹32,000 per sq ft carpet | 60 |
| Kolshet & Manpada | Thane & the Central Corridor | ₹14,000 – ₹24,000 per sq ft carpet | 60 |
| Borivali | Western Suburbs | ₹16,000 – ₹30,000 per sq ft carpet | 58 |
| Airoli | Navi Mumbai | ₹11,000 – ₹20,000 per sq ft carpet | 58 |
| Thane West | Thane & the Central Corridor | ₹13,000 – ₹26,000 per sq ft carpet | 58 |
| Kandivali | Western Suburbs | ₹15,000 – ₹28,000 per sq ft carpet | 56 |
| Jogeshwari | Western Suburbs | ₹17,000 – ₹31,000 per sq ft carpet | 56 |
| Kurla | Central & Eastern Suburbs | ₹16,000 – ₹30,000 per sq ft carpet | 56 |
| Bhandup | Central & Eastern Suburbs | ₹15,000 – ₹27,000 per sq ft carpet | 54 |
| Kharghar | Navi Mumbai | ₹10,000 – ₹18,000 per sq ft carpet | 54 |
| Ghodbunder Road | Thane & the Central Corridor | ₹11,000 – ₹19,000 per sq ft carpet | 50 |
| Dahisar | Western Suburbs | ₹13,000 – ₹23,000 per sq ft carpet | 48 |
| Panvel | Navi Mumbai | ₹8,000 – ₹15,000 per sq ft carpet | 48 |
| Ulwe | Navi Mumbai | ₹9,000 – ₹16,000 per sq ft carpet | 44 |
| Bhiwandi | Thane & the Central Corridor | ₹4,500 – ₹9,000 per sq ft carpet (residential); warehousing on separate basis | 44 |
| Karjat | MMR Growth Corridors | ₹5,000 – ₹13,000 per sq ft built; plots on a separate basis | 44 |
| Mira Road & Bhayandar | Western Suburbs | ₹9,000 – ₹17,000 per sq ft carpet | 42 |
| Dombivli | Thane & the Central Corridor | ₹8,000 – ₹15,000 per sq ft carpet | 42 |
| Taloja | Navi Mumbai | ₹6,500 – ₹12,000 per sq ft carpet | 38 |
| Kalyan | Thane & the Central Corridor | ₹7,000 – ₹13,000 per sq ft carpet | 38 |
| Khopoli & Pen | MMR Growth Corridors | Land-led; built product ₹4,500 – ₹9,000 per sq ft | 34 |
| Vasai & Virar | MMR Growth Corridors | ₹5,500 – ₹11,000 per sq ft carpet | 32 |
| Ambernath & Badlapur | Thane & the Central Corridor | ₹5,500 – ₹10,000 per sq ft carpet | 30 |
| NAINA Region | MMR Growth Corridors | Land-led; highly variable by village and entitlement status | 30 |
Note on figures. The metrics shown are illustrative placeholders held in a single data file pending verification against the firm's audited mandate records. They must be replaced with attributable figures before publication. Market data points are directional and should be read alongside the promoter's own RERA disclosures.
Questions
Frequently asked.
What is the average property price in Mumbai per square foot?
A single Mumbai average is not meaningful, because indicative carpet-basis bands range from around ₹5,500 per sq ft in the outer MMR affordable belt to above ₹1,00,000 per sq ft at the top of South Mumbai. Always use the band for the specific micro-market, and registered comparables for the specific building.
Why do property websites show different rates for the same area?
They typically mix asking prices with transacted prices, super built-up area with carpet area, and old stock with new inventory. Normalise to carpet area and registered transactions before comparing.
Where can I verify actual transaction prices?
Registered transaction values recorded with the registration department are the most reliable source; for new projects, the promoter's RERA disclosures and registered agreements for comparable units are also useful.
More intelligence
- Genesis Index™A consistent eight-variable score for every MMR micro-market — the framework published, the reasoning visible.
- Genesis MapAn interactive map of micro-markets, scores and infrastructure corridors credited by delivery stage.
- The Genesis BriefThe recurring publication: The Market, The Shift, The Opportunity, The Risk, The Address, The Outlook.
- Micro-market matrixEvery micro-market against every variable, sortable and filterable.
- Mumbai market reportThe current reading of the MMR, region by region.
- Absorption trackerVelocity — the indicator that turns before price does.
Bespoke research
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