Discover the Most Affordable Rentals in Mumbai’s Real Estate Market
Looking for the most affordable rent in Mumbai? While the city is notorious for sky-high rental rates, some pockets of reasonably priced options still exist.
Within Mumbai city limits, some of the more affordable areas include Dahisar, Borivali, Kandivali, Mulund, Bhandup, Nahur, and Vikhroli. Here, renting a 1 BHK apartment typically costs between ₹20,000 and ₹35,000 per month. A 2 BHK in these suburbs ranges from ₹35,000 to ₹60,000, depending on the location and amenities. According to local brokers, these western and eastern suburbs offer the most budget-friendly options for those who want to stay within the city.
For even lower rents, peripheral areas like Navi Mumbai, Thane, and Panvel offer 1 BHK apartments starting at ₹7,000 to ₹20,000. Renters with budgets between ₹10,000 and ₹20,000 can explore micro-markets such as Thane, Mira Road, Bhayander, Kalyan, or Dombivli. However, brokers caution that living in these areas may require a daily commute of two to three hours if your workplace is in Central Mumbai or BKC.
Manisha Verma (name changed), a Central Mumbai resident, is on the hunt for a spacious 5 BHK apartment with a monthly budget of ₹7 lakh. Experts say such cases represent only about 5% of Mumbai’s rental market, with most transactions taking place in the suburbs. “I have a client whose budget is ₹7 lakh for a 5 BHK apartment with balconies and premium amenities. I recently showed her an apartment in a Mahalaxmi high-rise, but since the building did not offer balconies, she rejected it. The Mumbai rental market can get tricky, even with a budget of ₹7 lakh a month,” said Asif Shaikh, a broker specialising in the city’s luxury real estate.
While the highest budget rentals represent a niche market, the majority of renters in Mumbai are looking for more affordable options. Real estate consultants recommend exploring the western and eastern suburbs for the best value for money. These areas not only offer lower rents but also provide a good quality of life with access to essential amenities and public transport.
