Planning to buy a flat in Mumbai? Be ready to spend ₹1 crore for a 1 BHK and up to ₹100 crore for a luxury 4BHK
In Mumbai’s real estate market, entry-level 1 BHK apartments start at around ₹1 crore, while luxury 4 BHKs in prime locations command upwards of ₹30 crore
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.
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.”
