Right Time To Watch Property Rates In Mumbai

Mumbai is the dream city for Indians, it is the financial capital of India. The city summarizes with a rich culture, commerce, and most important a real estate landscape. A very popular line that is said about Mumbai is that the city never sleeps.

The town is known for its skyscraper buildings and also historic places and landmarks. The place has witnessed great fluctuations in property rates over the years. and it has also witnessed infrastructural, social, and economic factors.

The Factors That Influence The Property Rates In Mumbai

Firstly the most important factor that influences the property rate in Mumbai is the economic factor of the town. Economic factors include GDP Rates, employment rates, and economic growth these factors directly affect property prices in the town. With the booming of the economic growth the demand for the property increases.

Secondly Infrastructure development of the city also directly influences the property rates in Mumbai. Metro stations, developed highways airports, and railways development also affect the rates of property in any town.

Right Time To Watch Property Rates In Mumbai

Thirdly The policies of the government also influence the rates of the property in the town. It includes taxation charges, house taxes, water taxes, and property taxes. Government policies related to purchasing the property in the place. Understanding the policies of the landscape is very important for purchasing any property.

Fourthly demographic trends mean the population density of a particular place influences the rates of the property. The city of Mumbai attracts a large population from outside it attracts business professionals as well as individuals to come and settle in the big city. This includes the demand and density of the population.

Mumbai Market In Detail

Right Time To Watch Property Rates In Mumbai

How do you examine the micro market within Mumbai? It is very easy to just consider the property rates per square. like what are the charges for a South Mumbai, different rates of luxury houses, Bandra, Kurla complex. It will help you get the right property.

Properties Prices In Mumbai Area Wise

AreaAvg price per sqft
1Thane West 956 – 1,50,000 / sqft 84,452.17 / sqft
2Mira Road East782 – 56,693 / sqft 37,538.99 / sqft
3Kharghar 2,727 – 1,10,435 / sqft 58,555.6 / sqft
4Dombivili 811 – 51,155 / sqft 23,84.59 / sqft
5Andheri West 2,419 – 2,00,000 / sqft 86,647.71 / sqft
6Kandivali East 1,372 – 1,43,334 / sqft 48,981.24 / sqft
7Kalyan West 718 – 64,449 / sqft 21,21.8 / sqft
8 Chembur 3,168 – 72,392 / sqft 42,487.47 / sqft
9 Powai 5,116 – 53,333 / sqft 43,388.32 / sqft
10 Ulwe 647 – 80,558 / sqft 39,29.27 / sqft
11 Virar 1,034 – 19,814 / sqft 14,669.04 / sqft
12 Andheri East 1,550 – 43,667 / sqft 39,642.16 / sqft
13 Malad West 2,540 – 55,905 / sqft 39,823.77 / sqft
14 Panvel 2,260 – 31,565 / sqft 24,667.87 / sqft
15 Ghansoli 2,043 – 30,686 / sqft 25,618.4 / sqft
16 Borivali West 1,600 – 39,387 / sqft 35,437.54 / sqft
17 Bandra West 1,667 – 1,49,606 / sqft 1,07,515.91 / sqft
18Mulund West 1,444 – 40,278 / sqft 31,909.41 / sqft
19 Goregaon East 6,206 – 51,170 / sqft 35,652.55 / sqft
20 Kandivali West 2,439 – 1,68,181 / sqft 48,442.09 / sqft
21 Kanjurmarg 2,438 – 38,372 / sqft 33,153.3 / sqft
22 Wadala 4,300 – 45,802 / sqft 42,951.15 / sqft
23 Goregaon West 3,814 – 1,82,358 / sqft 79,503.92 / sqft
24 Bhandup West 1,589 – 53,333 / sqft 34,310.54 / sqft
25 Borivali East 7,538 – 51,181 / sqft 35,509.15 / sqft
26 Koper Khairane 2,038 – 32,680 / sqft 27,60.91 / sqft
27 Seawoods 2,104 – 50,378 / sqft 33,993.34 / sqft
28 Malad East 2,478 – 34,314 / sqft 28,731.22 / sqft
29Naigaon East 2,308 – 12,708 / sqft 10,652.57 / sqft
30 Vikhroli 1,617 – 54,348 / sqft 37,596.5 / sqft
31 Airoli 2,000 – 47,281 / sqft 27,912.92 / sqft
32 Santacruz East 6,436 – 50,000 / sqft 40,161.59 / sqft
33Ghatkopar East 5,750 – 51,383 / sqft 37,844.77 / sqft
34Taloja 1,482 – 20,741 / sqft 17,55.14 / sqft
35Dahisar 5,069 – 43,125 / sqft 30,576.08 / sqft
36Worli 4,400 – 92,308 / sqft 73,875.62 / sqft
37Lower Parel 2,000 – 80,000 / sqft 63,70.41 / sqft
38Jogeshwari West 7,000 – 1,42,857 / sqft 46,837.29 / sqft
39Kamothe 3,789 – 20,755 / sqft 12,817.5 / sqft
40Bhayandar East 2,083 – 23,622 / sqft 19,921.35 / sqft
41Nerul 1,754 – 43,333 / sqft 27,282.33 / sqft
42Bhiwandi 747 – 56,897 / sqft 30,655.89 / sqft
43Dombivali East 1,286 – 13,333 / sqft 12,408.64 / sqft
44 Ambernath East 1,939 – 11,111 / sqft 9,885.6 / sqft
45 Badlapur East 2,000 – 20,250 / sqft 11,331.44 / sqft
46 Parel 9,735 – 67,093 / sqft 54,668.09 / sqft
47 Vasai 3,158 – 37,200 / sqft 17,257.37 / sqft
48 Juhu 2,437 – 1,43,095 / sqft 97,331.79 / sqft
49 Sion 5,913 – 50,909 / sqft 39,950.49 / sqft
50 Sanpada 1,574 – 27,778 / sqft 23,747.24 / sqft
51Neral 1,935 – 19,777 / sqft 7,671.74 / sqft
52Ville Parle East 4,000 – 58,899 / sqft 49,261.09 / sqft
53 Ghatkopar West 3,333 – 38,043 / sqft 31,185.01 / sqft
54 Nala Sopara 2,200 – 15,059 / sqft 10,692.66 / sqft
55 Santacruz West 6,373 – 76,688 / sqft 66,641.79 / sqft
56Kalyan East 2,105 – 24,038 / sqft 13,21.11 / sqft
57Prabhadevi 13,714 – 85,294 / sqft 60,634.25 / sqft
58Kurla 978 – 37,079 / sqft 30,121.29 / sqft
59Khar West 5,882 – 1,15,000 / sqft 83,511.93 / sqft
60Mulund East 5,000 – 31,429 / sqft 27,753.53 / sqft
Conclusion

The property rates in Mumbai depend on a depends upon a multitude of factors, ranging from economic conditions to infrastructural developments and shifting societal preferences. Navigating this complex landscape requires a nuanced understanding of both macroeconomic trends and micro-market dynamics. As Mumbai continues to grow, so too will its real estate, presenting both challenges and opportunities for investors, developers, and home buyers alike.

Disclaimer

We have given this information to help the visitor get the desired house they are looking for. All the above information is collected from Google and we are not held responsible for any misguidance you can get all the details from Google. You can visit Contact the Broker for more information.

FAQs

How much money is required to buy a house in Mumbai?

The cost of buying a flat in Mumbai in 2023 on average is more than Rs 23,000 per sq ft, in some of the areas, it is an average price it can increase and decrease according to the facilities.

Are property prices falling in Mumbai?

According to the rates list of the 10 years, Mumbai has demonstrated zero net growth in the price of property. It has increased much less over a time of 10 years.

How expensive is Mumbai real estate?

Average luxury real estate rates in Mumbai stood at Rs 707,996 per square meter or Rs 65,771 per square foot as compared to other towns in India.

How much does it cost to buy a flat in Mumbai?

Purchasing a flat in Mumbai completely depends upon the location and facilities available on average we can say 1 BHK- 65.5 L. 2 BHK- 1.5 crores. 3 BHK- 3 crores approximately.

Will property prices drop in 2023 in Mumbai?

The city had the sixth-highest year in growth in prime residential property rates in 2023 April and in the next six quarters in 2023, it increased by 6%. We can say on this ground it will increase and not drop.

Where is the best place to buy residential property in Mumbai?

The best place in Mumbai to buy property is Thane, Mira Road East, Andheri West, Dombivili, and Kharghar.

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