8.5 Crore for a 5 BHK in Borivali: Mumbai’s Real Estate Market Soars
A 5 BHK apartment in Mumbai’s Borivali has been listed for over ₹8.52 crore, sparking social media reactions. Real estate experts attribute the surge to post-pandemic market trends and improved connectivity.
Real EstateProperty PricesMumbaiBorivaliLuxury ApartmentsReal Estate NewsJun 30, 2025
While many expressed disbelief, real estate experts say the surge aligns with post-pandemic market trends, with per sq ft rates in Borivali now reaching up to ₹56,000. Notably, in 2024, the suburb saw one of its most expensive deals, a 4 BHK luxury apartment sold for ₹14 crore at ₹56,000 per sq ft.
Borivali, located in the western suburbs of Mumbai, is approximately a 2-hour drive from South Mumbai, depending on traffic conditions. According to a listing on 99acres.com, a 5 BHK apartment located within a 1-km radius of Borivali railway station was listed for resale at ₹8.52 crore.
Reacting to the listing, users recalled a time 20 years back when 2 BHK apartments in Borivali were priced between ₹15–20 lakh, and 5 BHK units weren’t even part of the market supply. “Borivali sells 5 BHK apartments for ₹8 crore++ can't believe.. 20+ years ago, during my childhood: 2 BHK was available for ₹15-20 lakh in Borivali and 5 BHK didn’t exist certainly,” said an X user.
While some users expressed shock at the current price tag, others said the rise was expected. “₹1.5 crore with 10% inflation for a BHK over 20+ years... ₹8 crore for a 5 BHK today isn’t surprising,” one user commented. Another X user cited growth in the stock market over 25 years and said, “with the Indian growth story and stock market performance, this much is expected.”
Borivali recorded one of its priciest deals in 2024 when a 4 BHK luxury apartment sold for ₹14 crore, clocking in at ₹56,000 per sq ft, according to property registration data accessed by IndexTap.com. The 4 BHK apartment, which is 2,497 sq ft, is located in a Grade A residential building named Aquaria Grande constructed by the Wadhwa Group.
Amid the buzz over Borivali’s ₹8.5 crore apartment listing, one X user suggested that those with such a budget should consider relocating to Dubai instead. “If you have ₹8 crore, it’s better to move to Dubai. Start a company in a free zone, get a 2-year resident visa, earn tax-free income, and invest ₹4.5 crore in property to qualify for a golden visa. Plus, home loan rates there are down to 3.5%,” the user wrote.
According to local brokers, the average price of apartments in Borivali ranges between ₹25,000 and ₹40,000 per sq ft, with most projects trading around ₹30,000 per sq ft. “Residential apartments in Borivali are typically fetching ₹30,000 to ₹35,000 per sq ft across most projects,” said Dhiren Joshi, a real estate consultant based in the area. “In some luxury projects, prices have touched ₹40,000 to ₹45,000 per sq ft, and the highest so far has been ₹56,000 per sq ft,” he said.
While Borivali is seeing rapid appreciation, it still remains more affordable compared to Mumbai’s most expensive pockets like Pali Hill in Bandra and Worli, where luxury apartment prices range from over ₹1 lakh to as high as ₹2.84 lakh per sq ft, according to brokers.
The Borivali-Goregaon corridor recorded home sales worth ₹40,083 crore in FY 2024–25, marking a 39% year-on-year growth. The surge has been largely driven by a wave of redevelopment projects and strong end-user and investor demand, cementing Borivali’s status as a key real estate hotspot in Mumbai. Improved connectivity has further boosted the area’s appeal. With the operational Metro Line 2A, seamless access via the Western Express Highway, and the upcoming Mumbai-Ahmedabad bullet train hub, commuting has become significantly easier, making Borivali a preferred choice for homebuyers.
Frequently Asked Questions
What is the current asking price for a 5 BHK apartment in Borivali?
The current asking price for a 5 BHK apartment in Borivali is over ₹8.52 crore, which comes to around ₹35,000 per sq ft.
What is the highest per sq ft rate recorded in Borivali?
The highest per sq ft rate recorded in Borivali is ₹56,000, achieved in a luxury 4 BHK apartment sold for ₹14 crore in 2024.
How has the property market in Borivali changed over the past two decades?
Over the past two decades, property prices in Borivali have seen a significant rise. Twenty years ago, 2 BHK apartments were priced between ₹15–20 lakh, and 5 BHK units were not part of the market supply. Today, a 5 BHK can be listed for over ₹8.52 crore.
What factors are contributing to the rise in property prices in Borivali?
The rise in property prices in Borivali is attributed to post-pandemic market trends, improved connectivity, and a wave of redevelopment projects. The area's strategic location and better infrastructure have also boosted its appeal.
What are some notable real estate projects in Borivali?
Notable real estate projects in Borivali include the Aquaria Grande, a Grade A residential building constructed by the Wadhwa Group, which saw one of the most expensive deals in the suburb with a 4 BHK apartment sold for ₹14 crore.
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