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.
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