Is 1 Crore Enough to Buy an Apartment in Mumbai's Prime Locations?
In the expensive real estate market of Mumbai, a budget of ₹1 crore can barely secure a small apartment in prime areas like South Mumbai and Bandra. Discover what you can actually get with this budget in one of India's most expensive cities.
Mumbai Real EstateProperty PricesPrime LocationsAffordable HousingCooperative HousingReal EstateMay 15, 2025
If you have ₹1 crore to spend on a property in Mumbai, your options are severely limited when it comes to prime locations. In areas like South Mumbai and Bandra, where real estate prices are among the highest in the city, this budget might only get you a small, compact apartment. These apartments are often referred to as
Frequently Asked Questions
What is the average price per square foot in South Mumbai?
The average price per square foot in South Mumbai can range from ₹20,000 to ₹30,000, making it one of the most expensive areas in Mumbai.
Can I find a larger apartment for ₹1 crore in the suburbs of Mumbai?
Yes, in suburbs like Thane, Kurla, or Vashi, a budget of ₹1 crore can often get you a more spacious 2 or 3 BHK apartment.
What are the downsides of living in the suburbs of Mumbai?
The main downside of living in the suburbs is the longer commute to the city center, which can be congested and time-consuming, especially during peak hours.
Is it a good idea to buy an older property and renovate it?
Yes, buying an older property and renovating it can sometimes provide better value for your budget, but it comes with the additional costs and hassles of renovations.
What is a co-operative housing society, and how can it help in buying property in Mumbai?
A co-operative housing society is a group of people who pool their resources to buy a larger property and share the living space. This can be a practical solution for those who want to live in a prime location but cannot afford to buy a property individually.
Related News Articles
Small Cities, Big Opportunities: How Tier-2 and Tier-3 Cities are Revolutionizing the Real Estate Market
Mid-tier cities like Faridabad, Lucknow, Vrindavan, Ludhiana, Chandigarh, Indore, Dehradun, and Jaipur are becoming hotspots in the real estate market, offering a low-cost, peaceful life and high returns on investment.
PM Modi to Launch Multiple Development Projects in Maharashtra Worth Over Rs 56,000 Crore
Prime Minister Narendra Modi will visit Maharashtra on Saturday to launch several development initiatives costing over Rs 56,000 crore, including the BKC-Aarey JVLR section of Mumbai Metro Line - 3 and various agricultural and animal husbandry projects.
Cornell University: Klarman Fellow Reveals Insights on Housing Costs
A Klarman Fellow at Cornell University has conducted a groundbreaking analysis of housing costs, providing new insights into the factors affecting real estate development and the built environment. This research has significant implications for urban plan
Mumbai Real Estate Projects Halted by New Environmental Clearance Order
The real estate sector in Mumbai is experiencing significant disruptions due to a recent directive from the National Green Tribunal (NGT). This order has led to the suspension of nearly 200 projects in the Mumbai Metropolitan Region (MMR), causing delays
Bhubaneswar: SJTA to Launch Online Platform for Land Settlements
Currently, individuals occupying temple lands submit manual applications to SJTA for property sale or transfer. This process is set to become more efficient with the launch of an online platform.
Mumbai Property Registrations Show Strong Growth in February 2025
Mumbai witnessed a significant rise in property registrations in February 2025, with 12,056 units registered, according to real estate consultant Knight Frank India. This growth indicates a robust market recovery and increased investor confidence in the c