How Far Does $1 Million Go in Mumbai, Bengaluru, and Delhi's Real Estate Market?
With soaring real estate prices in major Indian cities, a $1 million budget can secure different sizes of residential property in Mumbai, Bengaluru, and Delhi. In Mumbai, $1 million could buy approximately 1,065 sq ft of property in 2024, reflecting a 3%
Real EstatePropertyMumbaiBengaluruDelhiReal Estate MumbaiMar 05, 2025
For many aspiring homeowners, the question of how much house one can buy for $1 million is a crucial consideration.
Let's delve into the specifics of what a million dollars can buy in these bustling metropolises.
In Mumbai, the financial capital of India, real estate prices have been notoriously high.
According to recent market trends, a budget of $1 million can buy you approximately 1,065 square feet of residential property.
This reflects a 3% decline from the previous year, indicating a slight easing of prices.
However, the cost per square foot remains one of the highest in the country, making it challenging for many middle-class families to afford a home in the city.
Bengaluru, the tech hub of India, has seen a surge in property prices due to the influx of tech companies and young professionals.
For $1 million, you can purchase around 1,800 to 2,000 square feet of residential space in prime locations.
While this is more spacious compared to Mumbai, the city's rapid development has also pushed prices higher, making it a competitive market for buyers.
Delhi, the capital of India, offers a diverse range of property options.
In the central areas, $1 million can buy you about 1,500 square feet of residential property.
However, if you are flexible with the location and willing to explore the outskirts, you can get significantly more space for the same budget.
For instance, in areas like Gurgaon and Noida, you can secure a home of around 2,500 to 3,000 square feet for $1 million.
These figures highlight the stark differences in property prices across different regions.
The cost of living and property values in Mumbai are influenced by its status as a financial hub, while Bengaluru's tech-driven economy and Delhi's political significance play significant roles in their respective real estate markets.
For potential buyers, understanding the local market dynamics, including factors like location, infrastructure, and future development plans, is crucial.
It's also advisable to consult with local real estate agents and financial advisors to make informed decisions and maximize your budget.
In conclusion, while $1 million can buy you a modest home in Mumbai, it can secure a more substantial property in Bengaluru and Delhi.
The choice of city and location will play a significant role in determining the size and quality of the property you can afford.
Whether you are a first-time buyer or an investor, careful planning and research are essential to navigate the real estate market in these major Indian cities.
Frequently Asked Questions
How much property can I buy for $1 million in Mumbai?
In Mumbai, $1 million can buy you approximately 1,065 square feet of residential property, reflecting a 3% decline from the previous year.
What size of property can I get for $1 million in Bengaluru?
For $1 million, you can purchase around 1,800 to 2,000 square feet of residential space in prime locations in Bengaluru.
How much property can I buy for $1 million in Delhi?
In Delhi, $1 million can buy you about 1,500 square feet of residential property in central areas. In outskirts like Gurgaon and Noida, you can get around 2,500 to 3,000 square feet.
What factors influence property prices in these cities?
Property prices in Mumbai, Bengaluru, and Delhi are influenced by factors such as their economic significance, tech industry presence, and political status. Location, infrastructure, and future development plans also play crucial roles.
What advice do you have for potential buyers in these cities?
For potential buyers, it's essential to understand local market dynamics, consult with real estate agents and financial advisors, and carefully plan and research to make informed decisions and maximize your budget.
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