What is the Property Rates & Price Trends in Mumbai -2020

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The financial capital of India, Mumbai is an investment hotspot that boasts end-user interest throughout the year. Coupled by the employment opportunities, Mumbai also presents investment options in all price ranges although prospective buyers must be ready to look in the peripheries if they are in search of budget homes. Property prices in Mumbai vary with differences in the kind of infrastructure, connectivity, demand and supply in a given location.com.

Top localities in Mumbai include Dadar East where prices are Rs 31,000 per sq ft on an average followed by Matunga at Rs 29,900 per sq ft, Dadar West with average property rate at Rs 34,600 per sq ft and Bandra East where you can opt for a property for an average rate of Rs 28,335 per sq ft. All these localities have a liveability quotient of 9.8 and above on a scale of 10. This means that social infrastructure in the form of schools, colleges, hospitals, shopping complexes, hangouts, provision stores and such other conveniences are close at hand. Physical infrastructure such as connecting roads, commute and transport facility is also adequate in these areas which garners such a high liveability score.

If you are looking at an investment in apartment in Mumbai, there are 7,814 properties in the Rs 15-24.25 lakh category. However, these would be in areas far off from the central locations. The next popular budget segment is Rs 25-34 lakh and there are 6,684 properties in this range. There are over 10,000 properties across and around Mumbai in the price range of Rs 32-53 lakh.

If you are looking at villas in and around Mumbai, there are 300 projects and the price range is rather broad with projects priced between Rs 20 lakh to Rs 40 crore. Boisar, Thane West, Khandala, Kalina, Andheri West, New Panvel, Vasai, Dombivali East, Goregaon West, Uran, Lonavala are some of the popular places.

Here are the top localities:

• There are 120959 ready-to-move properties in Mumbai and 47456 that are under-construction. Seven others are launching soon.

• In Central Mumbai, Powai, Kanjurmarg and Bhandup West have maximum properties for sale while Powai, Chandivali and Bhandup West are popular when it comes to rent.

• In Mira Road and beyond region, Mira Road East, Nalasopara and and Virar have maximum properties on sale and rent.

• Between Andheri and Dahisar area, Kandivali East, Kandivali West and Goregaon East have maximum properties for sale. Besides these localities, Malad West is also popular when it comes to apartments on rent.

• In the Beyond Thane region, Dombivali, Dombivali East and Badlapur East are prominent locations. Kalywan West also features in the list when it comes to property on rent with maximum options.

• If you are looking at the Mumbai Harbour area, Chembur, Chembur East and Tilak Nagar have maximum properties on rent and sale.