Explore the current property market in Mumbai to see if it's still possible to find a home for just Rs 1 crore. Dive into price trends, growth projections, and key factors influencing the real estate sector.
MumbaiReal EstateProperty PricesAffordable HousingInvestmentReal Estate MumbaiApr 16, 2025
The current average price per square foot in Mumbai ranges from Rs 2,000 to Rs 10,000, depending on the location and property type. Prime locations tend to have higher prices.
Homes for Rs 1 crore or less can be found in areas like Vasai-Virar, Kalyan-Dombivali, and some parts of Navi Mumbai. These areas are less developed but are rapidly growing.
The Pradhan Mantri Awas Yojana (PMAY) is a key government initiative that offers financial assistance and tax benefits to first-time homebuyers, making it easier to purchase affordable properties.
Before buying a home in a less developed area, consider factors such as proximity to workplaces, access to schools and hospitals, overall quality of life, and future growth potential of the region.
The implementation of the Real Estate (Regulation and Development) Act (RERA) has improved transparency and buyer protection in the real estate market. However, it has also contributed to an increase in property prices due to higher compliance costs.
Lavasa, a hillside resort four hours from Mumbai, was meant to be India's answer to Portofino, but it has turned into a crumbling ghost town with $1 billion in liabilities and 5,000 lingering residents.
Average rental values have surpassed capital values in Bengaluru, Pune, Kolkata, and Chennai, while NCR, MMR, and Hyderabad saw the opposite trend.
Macrotech Developers, a leading real estate company, has reported a 21% increase in sales bookings to a record Rs 4,290 crore during the July-September period, driven by strong housing demand.
In a significant move, BNP Paribas has leased a prime office space in Mumbai's Business District, BKC, at a record rental rate of Rs 811 per square foot. This deal highlights the resilience of the Mumbai real estate market despite economic challenges.
Explore the luxurious lifestyle of Bollywood actors Huma Qureshi and her brother Saqib Qureshi, who have recently rented a premium villa in Juhu, one of Mumbai's most sought-after localities. Discover what makes Juhu a favorite among the stars.
India's real estate sector is facing a significant setback as the Maharashtra government recently raised the ready reckoner rate, leading to a sudden crash in real estate stocks. This move has caused widespread concern among developers, investors, and homebuyers.