Mumbai’s real estate market's residential segment continues to reflect sharp contrasts between suburban affordability and the premium pricing of South and Central Mumbai. Prices rise steeply as one moves from 1 BHK to 4 BHK units, and from peripheral suburbs to central and coastal areas, especially in sea-facing or sea-view projects.
How much does a 1 BHK cost in Mumbai?
In western and eastern suburbs such as Borivali, Kandivali, Malad, Goregaon, Mulund, Bhandup, and Ghatkopar, 1 BHK apartments are priced between ₹80 lakh and ₹1.5 crore.
According to local brokers, the price band is much higher in midtown locations like Vile Parle, Santacruz, and Bandra, between ₹2 crore and ₹3.5 crore.
In Worli, one of the most coveted addresses in India, a 1 BHK can cost between ₹3 crore and ₹4 crore. Prices in South Mumbai are also in a similar range, brokers said.
Also Read: What is the lowest rent currently available in Mumbai’s real estate market?
How much does a 2 BHK cost in Mumbai?
In South and Central Mumbai, the city’s most expensive regions, 2 BHK apartments command prices between ₹3 crore and ₹10 crore in areas such as Malabar Hill, Breach Candy, Lower Parel, and Prabhadevi. This micro-market continues to attract luxury buyers, particularly HNIs and NRIs, who prefer larger layouts, premium amenities, and sea-view towers.
{{/usCountry}}In South and Central Mumbai, the city’s most expensive regions, 2 BHK apartments command prices between ₹3 crore and ₹10 crore in areas such as Malabar Hill, Breach Candy, Lower Parel, and Prabhadevi. This micro-market continues to attract luxury buyers, particularly HNIs and NRIs, who prefer larger layouts, premium amenities, and sea-view towers.
{{/usCountry}}By contrast, the western suburbs, including Bandra, Andheri, Goregaon, and Borivali, see the highest transaction volumes. Here, 2 BHKs are typically priced between ₹2 crore and ₹6 crore.
Also Read: Planning to buy a 2 BHK apartment in Mumbai? Here’s what it will cost
How much does a 3 BHK or 4 BHK cost in Mumbai?
Larger configurations are the costliest. In the primary market, the most affordable 4 BHKs are in Borivali, priced between ₹5 crore and ₹10 crore. A 3 BHK in Borivali and surrounding areas generally costs between ₹3 crore and ₹7 crore, brokers said.
Moving to Bandra, Khar, Central and South Mumbai, considered among the priciest addresses in India, 3 and 4 BHK apartments are available between ₹7 crore and ₹60 crore, depending on the project, location, age of the property, and amenities.
Ultra-luxury formats such as 5 BHKs, duplexes, triplexes, and penthouses form less than 1% of total market transactions. These rare units are priced at ₹60 crore and above, with the most expensive deal to date touching ₹635 crore.
The entry barrier: At least ₹1 crore for a 1 BHK in Mumbai
According to Mayank Varma, a real estate consultant based in Mumbai’s suburbs, “The minimum amount you need to buy a house in Mumbai, including taxes, is around ₹1 crore. That would typically get you a 1 BHK from a mid-sized or smaller developer in areas like Dahisar, Borivali, or Mulund. Beyond that, the sky’s the limit, homes are priced at ₹30 crore, ₹50 crore, even ₹100 crore or more. Nothing stops you if budget isn’t a constraint.”