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Mumbai Property Market, Price Trends, Circle Rates & Tax !

The filmy city of Mumbai, earlier known as Bombay, has its own rhythm that can hypnotize anyone. From aspiring actors to Bollywood stars, from the hard-working labourers to multi-millionaire businessmen, Mumbai inhabits within its precincts every class and category. This city, which is the capital of Maharashtra, has a rich cultural and historical heritage. The famous Gateway of India, numerous colonial buildings, beaches and galleries add to the charm of this city. The city dwellers or Mumbaikars are sure proud to be a part of this culturally rich city.


Infrastructure & Connectivity
Mumbai’s infrastructure has seen dramatic changes over the years to inhabit lakhs of aspirants that flock this city every year. New plans and projects come up to transform the old-fashioned buildings into world-class apartments. The construction of various universities, healthcare institutes, schools and other infrastructure has changed the face of Mumbai. But one thing that never changed is the Local Railway, also known as Mumbai’s lifeline. Add to that, the Mumbai Metro and the bustling autos and taxis keep the fast paced life of this city moving. Chhatrapati Shivaji International Airport connects this city to various parts of the country and even beyond.


The population of Mumbai was recorded at 22 million in the year 2015, making it the 4th most populous city in the world. With a present population density of 28,508 per sq. km., this population has almost doubled over the past 15 years. It has increased at the rate of 17-20% per year. This increasing population is due to the endless inflow of migrants who come here to realize the Bollywood dreams.


Life Style
The streets of Mumbai are always bustling with various activities. One can easily find Bollywood stars making their presence felt in the international eating chains. From the roadside vendors to the world famous restaurants, the heavily-crowded shopping streets or high-end fashion boutiques, a sunny day out at Juhu or the grooving beats of pubs and discs, Mumbai has the charms to suit every mood of all its dwellers.


Key localities in Mumbai
Every city has some great localities while some not so good ones. Localities in Mumbai have developed dramatically to inhabit all types of people. This city can suit the needs of everyone. Some localities still remain to cater more attention and get developed in a better way. The best localities in Mumbai are: Andheri, Borivali, Dadar, Chandivali, Bandra, Juhu, Powai, South Mumbai, Goregaon, Worli, etc.

Real Estate Market
The builders in Mumbai come up with several projects to match the increasing property demands of the unstoppable migrants. These builders are the backbone behind Mumbai’s infrastructural development. Some of the top builders of Mumbai are: Lodha Group, TATA Housing Development Company, Rustomjee – Keystone Group, Oberoi Constructions, K Raheja Corp, Godrej Properties Limited, etc.


Projects in Mumbai
Mumbai has various projects in its bag to cater to the individual demand of all the people and migrants. Although the main city has become quite saturated, the outer area and the countryside are still welcoming a number of new projects and housing schemes. Whether one needs commercial property to start a business or a residential apartment to have a happy stay, Mumbai has a large number of projects for every type of property. Mumbai also takes care of the budget of every individual buyer and offers all types of property ranging from affordable to super luxurious.


Govt Projects in Mumbai
There are several projects launched by the MMRDA in the past decade to improve the infrastructure of Mumbai Real Estate. The BDD Chawl Redevelopment plan is one of the latest initiatives taken to reconstruct 91 acres of land and provide better housing facility to 12,000 inhabitants. These government projects help the lower and middle income class groups to have their own home in this city of dreams.

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  • Sales Price Trends in Mumbai

  • Property Distribution

  • Locality Price Range (Rs./Sq-ft) Average Price
    Oct 2017
    Jan 2018
    Khar 37000 - 47368 42184 15%
    Versova 19615 - 26923 23269 0%
    Ghatkopar 15789 - 28829 22309 0%
    Wadala 15536 - 38706 27121 0%
    Mulund 15517 - 23462 19489.5 19%
    Borivali 14286 - 17059 15672.5 3%
    Chembur 12777 - 33167 22972 7%
    Kurla 12136 - 16867 14501.5 0%
    Manpada 10000 - 16506 13253 5%
    Mira Road 5000 - 9402 7201 9%
    • 92% - Apartments / Flats
    • 1% - Residential Plots
    • 2% - Builder Floor
    • 2% - Independent House
Disclaimer : The Price Trend of different location has been compiled from the asking price of the database of properties listed on RealEstateIndia.com and are not based on the actual transactions. Therefore RealEstateIndia.com does not give any guarantee of the accuracy, reliability and completeness of any information and data should be verified independently.

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