Home to soaring towers, top corporations, and sleek infrastructure - Mumbai gives you the advantage of living in a developed city. Residential properties here usually offer a high quality lifestyle with good constructions and a range of amenities.
From 1 BHK flats in Mumbai to lavish sea-view apartments, the city offers a diverse range of residential housing. With easy access to a large variety of units & configurations - it is easy to find flats for sale in Mumbai that span across the affordable, mid-segment, and luxury sectors.
A well-connected network of roadways, rail lines, and sea-link makes it easier to travel from one corner of the city to the other. Numerous infrastructure projects on waterways, coastal roads, and metro lines are being developed to reduce congestion in Mumbai.
Mumbai is one of the leading cities for residential real estate, with a high property demand in India. In fact, the first 3 months of 2023 saw a 39% growth in property sales in Mumbai, despite repo rate hikes and implementation of 1% metro cess.
The key reason for demand in flats for sale in Mumbai is the immense consumer demand here. The Western & Central suburbs usually lead in the demand and sales, followed by Thane, Navi Mumbai, and South Mumbai.
As per a Knight Frank report, at least 48 to 50% of real estate sales are in the affordable market, with sales under ₹50 lakhs. The sales have also significantly risen in the ₹50 lakhs to ₹1 Crore range in recent months.
Developers too have risen to meet the growing housing demand by launching projects, with the second half of 2022 seeing a 29% growth in new project launches. Most of these launches were in the Western & Central markets along with Thane.
The supply range is ample across all configurations, from 1 to 4 BHK. In the last half of 2022, the Western suburbs supply was mostly 2 and 3 BHK flats, while South Bombay majorly featured 2 and 2.5 BHKs. The Central suburbs saw an equal distribution of the supply, while the rest of the suburbs had a larger number of 1 and 1.5 BHK flats.
Overall, the age of old inventory has decreased as well, and the consumer sentiment is driving the residential real estate sales in Mumbai.
Some of the top residential areas in Mumbai include Mahalaxmi, Thane, Powai.
Mumbai offers Apartment, Retail Shop, Commercial Office, Duplex, catering to various budget segments.
The average property price in Mumbai ranges from ₹5,150 to ₹68,550 per sq.ft., depending on the location and amenities.
Mumbai is well-connected via Byculla, Chinchpokli, Mahalakshmi, Kalwa, Thane.
The metro stations in and around Mumbai include key stops such as Mahalaxmi, Science Museum, Mumbai Central, Shitladevi Temple, Dadar, providing convenient connectivity to major areas.
Yes, areas like Kurla, Thane offer budget-friendly housing options in Mumbai.
Areas like Worli, Wadala, Khar, Bandra, Santacruz with price range above ₹11.47 Cr are known for luxurious residences in Mumbai