Understanding the Budget for 3 BHK, 2 BHK, and Studio Apartments in Mumbai
Mumbai's real estate market is one of the most expensive in India, with prices ranging from ₹20,000 to ₹7 lakh per square foot. This article provides a detailed breakdown of the budget needed for 3 BHK, 2 BHK, and studio apartments across different areas of Mumbai.
Mumbai Real Estate3 Bhk Budget2 Bhk BudgetStudio Apartment BudgetProperty PricesReal EstateAug 30, 2025
In Mumbai’s real estate markets, prices can range from ₹20,000 to ₹7 lakh per square foot, depending on the locality and property type. Let’s take a look at the budget estimates for 3 BHK, 2 BHK, and studio apartments across different parts of Mumbai, as per the average listing price mentioned by the leading property website 99acres.com.
### Budget for a 3 BHK Apartment in Mumbai
#### Suburban Areas (Dahisar, Borivali, Ghatkopar, Mulund, Bhandup)
In these relatively affordable suburbs, a 3 BHK flat (approximately 1,000–1,500 sqft carpet area) typically costs between ₹2.5 crore and ₹7 crore. Prices per square foot range from ₹15,000 to ₹45,000.
#### Mid-Tier Areas (Andheri, Juhu, Bandra, Khar, Versova)
A 3 BHK flat in these areas costs between ₹3 crore and ₹13 crore, with per-square-foot rates ranging from ₹25,000 to over ₹1 lakh.
#### Premium Areas (Malabar Hill, Worli, Lower Parel)
A 3 BHK (1,200–1,500 sqft) in these areas can range from ₹9 crore to ₹30 crore or more for luxury projects. The per square foot price can range between ₹35,000 to ₹1.3 lakh.
### Budget for a 2 BHK Apartment in Mumbai
#### Suburban Areas (Thane, Navi Mumbai, Mira Road, Bhandup)
A 2 BHK flat in these areas costs between ₹25 lakh and ₹4 crore, with per-square-foot rates of ₹2,000 to ₹50,000.
#### Mid-Tier Areas (Andheri, Powai, Kandivali)
The cost for a 2 BHK property can range from ₹55 lakh to ₹10 crore. The per-square-foot cost can range between ₹8,500 and ₹75,000.
#### Premium Areas (South Mumbai, Bandra, Juhu)
A 2 BHK flat in these areas can cost ₹4 crore to ₹10 crore and more.
### Budget for a Studio Apartment in Mumbai
#### Suburban Areas (Dahisar, Borivali, Mulund)
Studio apartments in these areas are priced between ₹35 lakh and ₹75 lakh, with per-square-foot rates of ₹20,000 to ₹30,000.
#### Emerging Areas (Navi Mumbai, Thane)
These areas offer studios in the ₹10–80 lakh range, especially in older buildings or new projects in developing suburbs.
When planning your budget, it’s essential to consider additional costs such as registration fees, stamp duty, and maintenance charges. Consulting with a real estate agent or financial advisor can also provide valuable insights and help you make an informed decision.
Frequently Asked Questions
What is the average cost per square foot for a 3 BHK in Mumbai?
The average cost per square foot for a 3 BHK in Mumbai can range from ₹15,000 to ₹7 lakh, depending on the locality. Suburban areas typically have lower costs, while premium areas can be significantly more expensive.
Which areas in Mumbai are considered premium for 2 BHK apartments?
South Mumbai, Bandra, and Juhu are considered premium areas for 2 BHK apartments. These areas offer high-end amenities and are known for their prime locations.
What is the budget for a studio apartment in suburban areas of Mumbai?
A studio apartment in suburban areas of Mumbai, such as Dahisar, Borivali, and Mulund, typically costs between ₹35 lakh and ₹75 lakh, with per-square-foot rates of ₹20,000 to ₹30,000.
How do additional costs affect the budget for buying a property in Mumbai?
Additional costs such as registration fees, stamp duty, and maintenance charges can significantly impact the total budget. These costs can add up to 10-12% of the property price, so it’s important to factor them into your budget.
What are the emerging areas in Mumbai for buying a studio apartment?
Navi Mumbai and Thane are emerging areas for buying a studio apartment. These areas offer more affordable options, especially in older buildings or new projects in developing suburbs.
Related News Articles
Blackstone's Q2 Results: A Tale of Two Markets
High interest rates have boosted Blackstone's credit assets, but weighed on its real estate value. Despite this, the company has seen a 3% rise in distributable earnings.
High-End Home Buyers Finalize Purchases Quickest: Report
According to a recent report, buyers of luxury homes priced at ₹3 crore and above are making their property purchases faster than those in lower price brackets. This trend highlights a growing interest in the high-end real estate market, particularly in m
Luxury Penthouse in Sohmer Piano Building Up for Sale for ₹211 Crore
A stunning penthouse with a golden dome in New York City’s historic Sohmer Piano Building is now on the market for $25 million. This five-bedroom, five-bathroom property is nestled in a 13-story Beaux-Arts building and offers breathtaking views and a rich
Maharashtra's Capex Impact: How Welfare Schemes Affect Infrastructure and Real Estate
The recent election in Maharashtra has raised concerns about the state's capital expenditure (capex) plans, particularly in the infrastructure and real estate sectors. Lofty welfare promises could lead to a fiscal deficit, impacting key industries.
NGT Mandate Pauses 200 Mumbai Real Estate Projects in Eco-Sensitive Zones
The National Green Tribunal's directive has become a pivotal juncture for Mumbai's real estate sector, halting around 200 projects across the city's metropolitan region, particularly those within a 5-kilometer radius of key ecological zones.
Gramercy Info Park Acquires Strategic Industrial Land in Navi Mumbai's Ghansoli
Gramercy Info Park Pvt Ltd has made significant strides in the real estate sector by acquiring two industrial land parcels in Navi Mumbai’s Ghansoli. This strategic move is aimed at expanding the company's footprint in the rapidly growing industrial and l