Property rates · Mumbai
Mumbai property rates: prices, trends and forecast
Thinking of buying in Mumbai? Here is what a square foot costs today, how fast prices have grown since 2020, what is happening in the market right now, and where rates could be by 2030. Plain numbers, no sales pitch.
By Rajan Khosla, Property Nivesh Team ·Reviewed by Rakesh Mahajan ·Published ·Updated ·Rates checked monthly The short answer
- ✓ Property in Mumbai costs about ₹32,000 per sq ft on average (2025), the highest of the 15 Indian cities we track.
- ✓ Prices are up 62% since 2020, or about 10% a year.
- ✓ The official trend is still up: NHB's index for Mumbai rose 6.2% in the year to Q2 2026.
- ✓ Worli, the Mumbai locality we track year by year, costs ₹75,000 per sq ft and rose 5.6% in 2025.
- ✓ Rents return about 2.6% a year: roughly ₹21,700 a month on a ₹1 crore home.
- ✓ Our base-case forecast for 2030: about ₹41,900 per sq ft (range ₹36,700–₹42,900). A projection, not advice.
Property rates in Mumbai today
The average asking price in Mumbai is ₹32,000 per sq ft. That makes it the most expensive of the 15 Indian cities on our tracker. Five years ago, in 2020, the same average was about ₹19,750 per sq ft.
Average rate (2025)
₹32,000 /sq ft
Growth since 2020
+62% (10% a year)
Rental yield
2.6%
On our Mumbai project pages, listed rates run from ₹19,758 per sq ft to ₹75,000 per sq ft, with the middle project at about ₹45,000 per sq ft. Starting prices on those pages begin at ₹99 lakh (Godrej Ascend), and half the projects start below ₹5.64 crore. Some projects you can look at: Lodha World Towers; Oberoi Sky City; Oberoi Elysian, Goregaon; Oberoi Forestville.
Mumbai property rates by year
Our tracker has the Mumbai city average for 2020 and 2025. The chart shows both, then our forecast to 2030 as striped bars (thin lines mark the low and high cases). For a year-by-year picture, see Worli below, the Mumbai area we track every year.
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Property price trends in Mumbai: is the market still rising?
NHB's house price index for Mumbai was 6.2% higher in Q2 2026 than a year earlier, against 7.0% for its 50-city composite. Over the last 8 quarters the yearly rise ranged from 3.7% to 6.2%, below or level with the 50-city figure every time.
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NHB RESIDEX measures the values banks and housing finance companies put on homes they lend against, smoothed over four quarters. A gap is a quarter NHB did not print the figure. NHB RESIDEX is a registered trademark of the National Housing Bank.
On our own tracker, Worli rose 5.6% in 2025, after 7.6% the year before. Prices are still going up, but more slowly than before.
Real estate market trends in Mumbai
Prices are only one part of the story. Here is what the other numbers we follow say about the Mumbai market.
- Prices: the average asking rate is up 62% since 2020 on our tracker, about 10% a year.
- Official index: NHB's house price index for Mumbai was 6.2% higher in Q2 2026 than a year earlier, against 7.0% for its 50-city composite.
- New supply: Builders registered 1,439 new projects with MahaRERA across Greater Mumbai and Thane district in FY 2024-25, up from 695 in FY 2020-21 (+107%). More new projects usually means more choice for buyers, and over time more competition on price.
- Sales activity: Property registrations in Mumbai rose 10.7% in January–September 2026 compared with the same months of 2025, and conveyance deeds (mostly sales) rose 6.6%. That is our index of the state registration department's figures.
- Rents: a gross rental yield of about 2.6%, so rent covers only a small part of the price each year. Most buyers here are paying for future value or for a home to live in.
- Projects we cover: 24 Mumbai projects on Property Nivesh, 4 with a listed rate per sq ft. See the Mumbai city guide for the full list.
Want the detail? Read our Mumbai Property Price Report and the Mumbai Infrastructure Impact Report.
Worli property rates: Mumbai's year-by-year picture
Worli costs about ₹75,000 per sq ft on average. It has gone from ₹52,000 in 2020 to ₹75,000 in 2025: up 44%. In 2025 it rose 5.6%.
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| Year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Rate per sq ft | ₹52,000 | ₹55,000 | ₹60,000 | ₹66,000 | ₹71,000 | ₹75,000 |
| Change | — | +5.8% | +9.1% | +10.0% | +7.6% | +5.6% |
What you should know about Worli
- The area: Worli is among India's most expensive residential addresses: sea-facing towers, a luxury hospitality cluster and new road links to the rest of Mumbai. Prices here rise steadily rather than sharply, and rental yields are among the lowest we track.
- Why prices moved: The Bandra–Worli Sea Link and the Mumbai Coastal Road shorten trips to the western suburbs and South Mumbai. Metro Line 3 (Aqua) adds underground rail access.
- What to watch: Completion of the Coastal Road and the Worli–Sewri connector.
- Who it suits: UHNIs buying trophy sea-facing assets; global Indians relocating to South-Central Mumbai.
- Rent: about 2.2% a year. A ₹1 crore home here would rent for roughly ₹18,300 a month.
- Projects on our site with a listed rate: Lodha World Towers (₹75,000 per sq ft). Single projects can sit far from the area average.
- Outlook: our base case for 2030 is ₹99,900 per sq ft (range ₹86,700–₹1,00,700).
Mumbai property price forecast, 2026–2030
Short answer: probably up, at a steadier pace. Our base case puts the Mumbai average near ₹41,900 per sq ft by 2030, a rise of about 31% from today. Here is the full picture.
| Year | Low case | Base case | High case | Base-case growth |
|---|---|---|---|---|
| 2025 (actual) | — | ₹32,000 | — | — |
| 2026 | ₹32,800 | ₹33,600 | ₹33,900 | +5.1% |
| 2027 | ₹33,700 | ₹35,400 | ₹36,000 | +5.3% |
| 2028 | ₹34,600 | ₹37,400 | ₹38,200 | +5.6% |
| 2029 | ₹35,600 | ₹39,500 | ₹40,500 | +5.8% |
| 2030 | ₹36,700 | ₹41,900 | ₹42,900 | +6.1% |
Mumbai average rate per sq ft. Forecast values rounded to the nearest ₹100.
| Locality | 2025 rate | 2030 low | 2030 base case | 2030 high |
|---|---|---|---|---|
| Worli | ₹75,000 | ₹86,700 | ₹99,900 | ₹1,00,700 |
How we worked out the forecast
We kept it simple on purpose, so you can check it yourself. It rests on two numbers:
- A starting pace. For the Mumbai forecast that is the average yearly change in NHB's index for Mumbai over the last four quarters (4.8%). We use it because our tracker has the Mumbai average for 2020 and 2025, not for every year in between. Each locality starts from its own latest yearly rise.
- A long-run pace. We use 6.1% a year: the average yearly rise in NHB RESIDEX, the National Housing Bank's index of home values in 50 cities, over the 8 quarters from Q3 2024 to Q2 2026, as printed in NHB's press releases.
- Base case: growth starts at the starting pace and moves in equal steps towards the long-run pace, reaching it in year five. Fast markets tend to cool and slow ones tend to catch up.
- Low case: half the base-case growth each year. Think of a slower market or a few flat years.
- High case: the faster of the two paces, held for all five years.
That is all there is to it. The model does not know about interest rates, new supply, policy changes or a slowdown. Any of those can move prices well outside this range.
Please read before you use the forecast
- The forecast is based on our research and past rates only. It is an estimate, not a prediction you can rely on.
- It is not investment, financial, legal or tax advice, and it is not a recommendation to buy, sell or hold any property.
- Past growth does not guarantee future growth. Property prices can fall as well as rise.
- Rates are averages. A single project, tower or flat can be priced very differently.
- Talk to a qualified adviser and do your own checks (RERA registration, title, the builder's track record) before you decide.
How we get these rates
- What the numbers are: the average asking price per sq ft across the projects and listings our team tracks. They are not registered sale prices or government circle rates.
- One number per year: the Mumbai figures are our city average for 2020 and 2025; Worli is tracked every year.
- Checked every month: we review the rates monthly. Once the current year has checks, its bar shows the average so far and is marked with a star (*). It firms up as the months come in.
- Who checks: the Property Nivesh Team writes these pages, and our editor reviews them before they go live. See our editorial policy and methodology.
- Sources: Property Nivesh price tracker and project pages; National Housing Bank, NHB RESIDEX press releases; MahaRERA registered-project lists; Department of Registration and Stamps, Maharashtra (as our index). NHB RESIDEX is a registered trademark of the National Housing Bank.
Questions people ask about Mumbai property rates
What are property rates in Mumbai right now? ＋
About ₹32,000 per sq ft on average (the city average on our tracker, 2025). Rates vary a lot by area. Worli, the Mumbai locality we track year by year, averages ₹75,000 per sq ft.
How much have property prices grown in Mumbai? ＋
Up 62% from 2020 to 2025 on our tracker, which works out to about 10% a year. Worli rose 44% over the same years.
Are property prices in Mumbai still rising in 2026? ＋
Yes, by the official measure. NHB's index for Mumbai was 6.2% higher in Q2 2026 than a year earlier. The pace is below the national 50-city figure (7.0%).
What is the property price forecast for Mumbai? ＋
Our base case puts the Mumbai average near ₹41,900 per sq ft by 2030, within a range of ₹36,700 to ₹42,900. It is a simple projection from past rates and the national trend, not a promise and not investment advice. The method is explained on this page.
What is the property rate in Worli, Mumbai? ＋
About ₹75,000 per sq ft in 2025, up from ₹52,000 per sq ft in 2020. Our base case for 2030 is ₹99,900 per sq ft.
Is Mumbai a good place to invest in property? ＋
We don't give investment advice, but here are the numbers that matter. Prices grew about 10% a year from 2020 to 2025, and rents return about 2.6% of the price a year before costs. Compare those with what your money earns elsewhere, check the project's RERA registration and the builder's record, and plan for prices to move slower than they did recently.
What is the rental yield in Mumbai? ＋
About 2.6% a year before costs. In plain terms, a ₹1 crore home in Mumbai would rent for roughly ₹21,700 a month.
How often are these rates updated? ＋
We check them every month. When a year's checks come in, that year's bar shows the average so far, and the figure firms up as the months pass. The rates were last reviewed on 20 September 2026.
Property rates in other cities
- Pune property rates · ₹10,500 per sq ft
- Goa property rates · ₹14,500 per sq ft
- Bengaluru property rates · ₹12,800 per sq ft
- Gurgaon property rates · ₹16,500 per sq ft
- All cities: property rates in India
More on Mumbai
Disclaimer: all figures are indicative and for general information. Property Nivesh is an independent research platform, not a broker or an agent for any developer. Rates, forecasts and project prices change, so confirm the current price with the developer and check RERA records before you pay anything.