Mumbai's real estate market is the most expensive in the country, and buying a home in the financial capital is a dream come true for many homebuyers, considering that apartments cost as much as ₹20,000 per sq ft to nearly ₹3 lakh per sq ft.
Mumbai’s real estate market offers a wide range of prices for 3 BHK apartments from affordable suburban areas to ultra-premium locations.
The price of a 3 BHK can vary significantly based on factors such as location, property age, and amenities. In suburban areas like Dahisar, Borivali, and Ghatkopar, you can find 3 BHK apartments in the ₹3 crore to ₹7 crore range, while prime spots like Juhu, Bandra, and South Mumbai command prices that can go as high as ₹30 crore for luxury apartments.
As Mumbai continues to evolve, the cost of owning a 3 BHK is a reflection of the city’s high demand and premium living standards.
What should be your budget to buy a 3 BHK apartment in Mumbai?
Mumbai is broadly divided into four geographies: South Mumbai, western suburbs (North Mumbai), eastern suburbs (North East Mumbai), Central Mumbai, and South Mumbai.
Suburbs
{{/usCountry}}Mumbai is broadly divided into four geographies: South Mumbai, western suburbs (North Mumbai), eastern suburbs (North East Mumbai), Central Mumbai, and South Mumbai.
Suburbs
{{/usCountry}}In areas like Dahisar, Borivali, Mulund, Kurla, Bhandup, Nahur, Ghatkopar, and Malad, 3 BHK apartments are available between ₹3 crore and ₹7 crore, with prices ranging from ₹15,000 to ₹70,000 per sq ft.
In high-profile areas like Juhu, Versova, Andheri, Khar, and Bandra, 3 BHK apartments range from ₹5 crore to ₹13 crore, depending on size (1,000 to 1,300 sq ft), with prices from ₹40,000 to over ₹1 lakh per sq ft. A 3 BHK apartment in these localities is available in the range of ₹40,000 to above ₹1 lakh per sq ft.
Also Read: How much would Shah Rukh potentially make if he sells his bungalow Mannat in Mumbai's Bandra today?
Central Mumbai
In areas like Dadar, Lower Parel, Prabhadevi, and Worli, 3 BHK apartments range from ₹50,000 to ₹1.5 lakh per sq ft. For instance, a 3 BHK near Dadar's Shivaji Park, known for its old Mumbai charm, costs between ₹6 crore and ₹10 crore. Further towards Worli, Prabhadevi, and Lower Parel, prices for 3 BHKs range from ₹10 crore to ₹20 crore for apartments sized around 1,000 to 1,300 sq ft, depending on the exact location, according to local brokers.
South Mumbai
In South Mumbai, the per sq ft price for older buildings in areas like Tardeo, Colaba, Cuffe Parade, Charni Road, Marine Lines, and Nepeansea Road ranges from ₹60,000 to ₹80,000. This makes a 3 BHK apartment available for under ₹10 crore.
However, for newer constructions in prime areas like Malabar Hill, Peddar Road, Nepeansea Road, and Altamount Road, prices soar to ₹1 lakh to ₹2 lakh per sq ft. The starting price for a 1,200 to 1,500 sq ft 3 BHK apartment in these areas ranges from ₹15 crore to ₹30 crore, according to local brokers.
What sells in Mumbai?
According to Knight Frank India, a real estate consultancy, nearly 96% of the 47,035 primary housing units sold in the Mumbai Metropolitan Region (MMR) during the first half of 2025 were priced below ₹5 crore. Homes priced at ₹5 crore and above were primarily purchased by upgrade buyers seeking larger and more premium residences.
As many as 47,035 housing units were sold in Mumbai in various price segments during the first half of 2025. Of these, 18,604 units were priced below ₹50 lakh, 11,729 units were sold in the ₹50 lakh– ₹1 crore range, and 15,270 units were priced between ₹1 crore and ₹5 crore. In the sub- ₹1 crore segment alone, Mumbai led all cities with 30,333 units sold, followed by Ahmedabad with 18,083 units.
Launches in Mumbai
According to registration data of Maharashtra Real Estate Regulatory Authority (Maharera), in 2024, 50% of properties registered with Maharashtra Real Estate Regulatory Authority (MahaRERA) in the Mumbai real estate market were smaller than 650 sq ft, with nearly 60% comprising 1 BHK and 2 BHK apartments. This highlights affordability as the key factor influencing apartment sizes.
According to MahaRERA data, 36,274 of the 63,244 units registered in the calendar year 2024 were 1 BHK and 2 BHK apartments.
Around 15%, or over 10,000 units, were 3 BHK apartments, and around 3% or nearly 2,000 units, were 4 BHK apartments.