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.
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