Summary
Mumbai costs more than any other Indian city on our tracker: ₹32,000 per sq ft on average, about double the next city, Gurgaon. Worli, the Mumbai locality we track in detail, averages ₹75,000 per sq ft.
Prices are still rising, but more slowly than in some cities. Our tracker shows Mumbai up 62% in five years. NHB’s official index for Mumbai rose between 3.7% to 6.2% a year over the last eight quarters, never faster than its 50-city figure. Activity is strong: documents registered in Mumbai rose 10.7% in January–September 2026, and builders registered 1,439 new projects with MahaRERA in Greater Mumbai and Thane district in FY 2024-25.
This report uses only data we hold: our tracker, our 12 priced Mumbai project pages, NHB’s press releases, MahaRERA and Maharashtra registration figures. Nothing here is a forecast.
Key findings
Each finding stands on its own and may be quoted with credit to Property Nivesh Research. Link one with its anchor (#finding-1, #finding-2 …).
- 1
Property in Mumbai costs ₹32,000 per sq ft on average on the Property Nivesh price tracker, as of October 2026. Mumbai is the most expensive of the 15 Indian cities on our price tracker.
- 2
The average asking price in Mumbai has risen 62% in five years on our tracker. On our tracker, Worli went from ₹55,000 per sq ft in 2021 to ₹75,000 in 2025, a rise of 36%.
- 3
Two-bedroom (2 BHK) flats are listed from ₹3.04 crore to ₹7.5 crore (3 listings). Three-bedroom (3 BHK) flats start from ₹1.99 crore, and the middle (median) starting price across 8 listings is ₹6.29 crore. Four-bedroom (4 BHK) flats start from ₹8.4 crore, and the middle (median) starting price across 5 listings is ₹8.69 crore.
- 4
Our Mumbai pages list prices for 12 residential projects. The lowest starting price is ₹99 lakh, at Godrej Ascend. The highest is ₹9.06 crore, at Lodha Park. The middle (median) starting price is ₹5.64 crore.
- 5
NHB’s house price index for Mumbai was 6.2% higher in Apr–Jun 2026 than a year earlier, against 7.0% for its 50 cities. Over eight quarters, Mumbai’s annual rise ranged from 3.7% to 6.2%.
- 6
Across Greater Mumbai and Thane district, builders registered 1,439 new projects with MahaRERA in FY 2024-25, against 695 in FY 2020-21 (+107%). The busiest financial year in this window was FY 2022-23, with 1,655.
- 7
The gross rental yield in Mumbai is 2.6% on our tracker. A home worth ₹1 crore would earn about ₹21,700 a month in rent, before costs.
- 8
Documents registered in Mumbai rose 6.3% in 2025 on the year before, and 10.7% in January–September 2026 on the same months of 2025. Conveyance deeds, which record property transfers such as sales, rose 6.4% in 2025 and 6.6% so far in 2026. Since 2021, yearly registrations are up 44% in all and 34% for conveyances.
- 9
Of the major cities NHB names, Mumbai ranked 5th of the 7 for annual price growth in Apr–Jun 2026.
Key numbers
- Average price per sq ft, Mumbai
- ₹32,000 per sq ft
- Property Nivesh price tracker · October 2026
- Change in five years
- 62%
- average asking price, our tracker
- Middle starting price of projects
- ₹5.64 crore
- 12 projects with a listed price
- Mumbai house prices on a year earlier (NHB)
- 6.2%
- Apr–Jun 2026 · 50-city composite 7.0%
- New RERA projects, FY 2024-25
- 1,439
- Greater Mumbai and Thane district · +107% on FY 2020-21
- Gross rental yield
- 2.6%
- about ₹21,700 a month on a ₹1 crore home
How much does property cost in Mumbai?
The average asking price of a home in Mumbai is ₹32,000 per sq ft on our price tracker, as of October 2026. Mumbai is the most expensive of the 15 Indian cities on our price tracker. Worli, the one Mumbai locality we track in detail, averages ₹75,000 per sq ft — more than twice the city average.
- Five-year change: 62% on our tracker.
- Rental yield: 2.6% a year, before costs.
- What ₹1 crore rents for: about ₹21,700 a month.
These are asking prices across the projects and listings we follow. They are not registered sale prices.
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Mumbai property price trend, 2021–2025
On our tracker, Worli went from ₹55,000 per sq ft in 2021 to ₹75,000 in 2025, a rise of 36%.
The chart also shows the Mumbai projects on our pages that have three or more years of prices. Yearly rises in Worli were steady, between about 6% and 10%.
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Flat prices in Mumbai by size: 2 BHK, 3 BHK, 4 BHK
How much does a flat cost in Mumbai? Here is what our project pages list, by number of bedrooms.
Two-bedroom (2 BHK) flats are listed from ₹3.04 crore to ₹7.5 crore (3 listings). Three-bedroom (3 BHK) flats start from ₹1.99 crore, and the middle (median) starting price across 8 listings is ₹6.29 crore. Four-bedroom (4 BHK) flats start from ₹8.4 crore, and the middle (median) starting price across 5 listings is ₹8.69 crore.
Our Mumbai listings are mostly premium projects from three large developers, so they show the upper end of the market. Location matters more than size here: the cheapest 3 BHK on our pages starts below the cheapest 2 BHK.
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New and ongoing projects in Mumbai: starting prices
Our Mumbai pages list prices for 12 residential projects. The lowest starting price is ₹99 lakh, at Godrej Ascend. The highest is ₹9.06 crore, at Lodha Park. The middle (median) starting price is ₹5.64 crore.
- Projects starting under ₹1 crore: 1.
- Projects starting under ₹2 crore: 3.
- Projects starting at ₹5 crore or more: 8.
The developers with priced projects on our pages include Godrej Properties, Lodha (Macrotech Developers) and Oberoi Realty. The tables at the end give each project’s price range, location and possession date. Our priced Mumbai pages are projects by Godrej Properties, Lodha (Macrotech Developers) and Oberoi Realty, so they lean towards the premium end.
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What official data says about Mumbai house prices
The National Housing Bank (NHB) tracks house prices in 50 cities, using the values banks put on homes they lend against. Mumbai is one of the major cities it names every quarter.
NHB’s house price index for Mumbai was 6.2% higher in Apr–Jun 2026 than a year earlier. Its 50-city composite rose 7.0%. From Q3 2024 to Q2 2026, Mumbai’s annual rise ranged from 3.7% to 6.2%, and it stayed below the 50-city figure in all 8. NHB also named Navi Mumbai in 4 of the 8 releases, Q3 2024 (6.5% on the quarter), Q4 2024 (8.3% on the quarter), Q1 2025 (45.8% on the year, 17.3% on the quarter) and Q2 2025 (39.1% on the year).
NHB’s index and our tracker measure different things. NHB uses lenders’ valuations, smoothed over four quarters. Our tracker uses asking prices.
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New supply: RERA project registrations in Mumbai
Every new project must be registered with the state’s Real Estate Regulatory Authority (RERA) before it is sold. The count of new registrations shows how much new supply is coming.
Across Greater Mumbai and Thane district, builders registered 1,439 new projects with MahaRERA in FY 2024-25, against 695 in FY 2020-21 (+107%). The busiest financial year in this window was FY 2022-23, with 1,655.
Greater Mumbai accounted for 52% of the new projects in FY 2024-25; Thane district for the rest.
Our Mumbai Infrastructure Impact Report charts these registrations beside the city’s metro and road projects.
Property registrations in Mumbai
Every property sale in Mumbai is registered with the state’s Department of Registration and Stamps. The number of documents registered is a good sign of how busy the market is. We show it as an index (2021 = 100), because the department does not allow its own counts to be reproduced without permission.
Documents registered in Mumbai rose 6.3% in 2025 on the year before, and 10.7% in January–September 2026 on the same months of 2025. Conveyance deeds, which record property transfers such as sales, rose 6.4% in 2025 and 6.6% so far in 2026. Since 2021, yearly registrations are up 44% in all and 34% for conveyances.
Conveyance deeds are closer to property sales than all documents, which also include leases, mortgages and other deeds. Monthly figures for the last six months are in the table at the end.
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Buying in Mumbai: how to use these numbers
Use this report to see price levels and direction, not to value one home.
- Compare like with like. Check whether a price per square foot is on carpet, built-up or super area before you compare.
- Check the RERA registration. Every project you consider should be registered, with a possession date on record.
- Look at the locality, not just the city. Worli averages more than twice the Mumbai average on our tracker. Suburbs and the wider Mumbai region cost far less.
- Ask for the all-in price. Starting prices usually leave out parking, club charges, GST on under-construction homes, stamp duty and registration.
- Think about rent too. At a 2.6% gross yield, rent covers only part of a home loan EMI.
This report does not forecast prices or recommend buying or selling any property.
Data tables
| Market | ₹ per sq ft | 5-year growth | Rental yield | Rank by price |
|---|---|---|---|---|
| Mumbai | ₹32,000 | 62% | 2.6% | 1st of 15 |
| Worli (locality) | ₹75,000 | 44% | 2.2% | — |
| Locality or project | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Worli | ₹55,000 | ₹60,000 | ₹66,000 | ₹71,000 | ₹75,000 | +36% |
| Lodha World Towers (project) | ₹55,000 | — | ₹65,000 | — | ₹75,000 | +36% |
| Oberoi Elysian, Goregaon (project) | — | — | ₹33,000 | ₹38,000 | ₹42,000 | +27% |
| Size | Listings | Projects | Lowest | Median | Highest | Lowest-priced project |
|---|---|---|---|---|---|---|
| 1 BHK | 1 | 1 | ₹99 lakh | ₹99 lakh | ₹99 lakh | Godrej Ascend |
| 2 BHK | 3 | 2 | ₹3.04 crore | ₹3.67 crore | ₹7.5 crore | Lodha Bellagio |
| 3 BHK | 8 | 8 | ₹1.99 crore | ₹6.29 crore | ₹14 crore | Godrej Ascend |
| 4 BHK | 5 | 5 | ₹8.4 crore | ₹8.69 crore | ₹16.48 crore | Lodha Divino |
| 5 BHK | 1 | 1 | ₹17.38 crore | ₹17.38 crore | ₹17.38 crore | Lodha Park |
| Project | Developer | Location | Status | Price range | ₹ per sq ft | Possession |
|---|---|---|---|---|---|---|
| Godrej Ascend | Godrej Properties | — | Under construction | from ₹99 lakh | — | Apr 2028 |
| Godrej Urban Park | Godrej Properties | — | Ready to move | from ₹1.38 crore | — | Sep 2026 |
| Oberoi Forestville | Oberoi Realty | — | Under construction | from ₹1.96 crore | ₹19,758 | 2028 (est.) |
| Lodha Bellagio | Lodha (Macrotech Developers) | — | Ready to move | from ₹3.04 crore | — | Ready |
| Oberoi Sky City | Oberoi Realty | — | Ready to move | from ₹5.05 crore | ₹48,080 | Phased (part ready) |
| Oberoi Elysian, Goregaon | Oberoi Realty | Goregaon East | Under construction | ₹5.5 crore – ₹12 crore | ₹42,000 | Dec 2027 |
| Godrej Horizon | Godrej Properties | — | Under construction | from ₹5.78 crore | — | Jun 2027 |
| Godrej Reserve | Godrej Properties | — | Under construction | from ₹5.94 crore | — | Jun 2030 |
| Lodha Divino | Lodha (Macrotech Developers) | — | Under construction | from ₹6.65 crore | — | 2027 |
| Lodha World Towers | Lodha (Macrotech Developers) | Worli | Ready to move | ₹7.5 crore – ₹55 crore | ₹75,000 | Ready |
| Godrej Sky Terraces | Godrej Properties | — | Under construction | from ₹9 crore | — | Jun 2029 |
| Lodha Park | Lodha (Macrotech Developers) | — | Ready to move | from ₹9.06 crore | — | Ready |
| Developer | Projects priced | Price range | ₹ per sq ft | Projects |
|---|---|---|---|---|
| Godrej Properties | 5 | ₹99 lakh – ₹9 crore | — | Godrej Ascend, Godrej Urban Park, Godrej Horizon, Godrej Reserve, Godrej Sky Terraces |
| Lodha (Macrotech Developers) | 4 | ₹3.04 crore – ₹55 crore | ₹75,000 | Lodha Bellagio, Lodha Divino, Lodha World Towers, Lodha Park |
| Oberoi Realty | 3 | ₹1.96 crore – ₹12 crore | ₹19,758 – ₹48,080 | Oberoi Forestville, Oberoi Sky City, Oberoi Elysian, Goregaon |
| Quarter | 50-city y-o-y | Mumbai y-o-y | Mumbai q-o-q | Navi Mumbai y-o-y | Navi Mumbai q-o-q |
|---|---|---|---|---|---|
| Q2 2026 | 7.0% | 6.2% | — | — | — |
| Q1 2026 | 4.5% | 4.5% | — | — | — |
| Q4 2025 | 5.0% | 3.7% | — | — | — |
| Q3 2025 | 4.8% | 4.8% | — | — | — |
| Q2 2025 | 5.7% | 5.2% | — | 39.1% (fastest of 50) | — |
| Q1 2025 | 7.5% | 5.9% | — | 45.8% (fastest of 50) | 17.3% (1st of 4 named) |
| Q4 2024 | 7.2% | 6.0% | — | — | 8.3% (1st of 4 named) |
| Q3 2024 | 6.8% | 4.0% | — | — | 6.5% (2nd of 4 named) |
| District | FY 2020-21 | FY 2021-22 | FY 2022-23 | FY 2023-24 | FY 2024-25 |
|---|---|---|---|---|---|
| Greater Mumbai (MahaRERA) | 333 | 744 | 873 | 697 | 752 |
| Thane district (MahaRERA) | 362 | 676 | 782 | 731 | 687 |
| All | 695 | 1,420 | 1,655 | 1,428 | 1,439 |
| Period | All documents (index) | Change | Conveyance deeds (index) | Change |
|---|---|---|---|---|
| 2021 | 100 | — | 100 | — |
| 2022 | 116.9 | 16.9% | 109 | 9.0% |
| 2023 | 122.6 | 4.8% | 113.4 | 4.0% |
| 2024 | 135.4 | 10.5% | 126.2 | 11.2% |
| 2025 | 144 | 6.3% | 134.3 | 6.4% |
| Jan–Sep 2026 vs 2025 | — | 10.7% | — | 6.6% |
| April 2026 | — | 12.0% | — | 9.2% |
| May 2026 | — | 17.0% | — | 7.2% |
| June 2026 | — | 18.5% | — | 15.7% |
| July 2026 | — | 4.1% | — | 9.9% |
| August 2026 | — | 18.4% | — | 12.0% |
| September 2026 | — | 8.9% | — | 4.5% |
Methodology
Property Nivesh price tracker. Average asking price per square foot for each city and locality we track, a yearly history (the last five years shown), the change in that average over five years, and the gross rental yield (a year’s rent as a share of the price). Averages come from the projects and listings we follow; they are asking prices, not registered sale prices.
Project pages. Starting prices, price ranges, prices per square foot and flat configurations as listed on our project pages, which record what the developer published or what the reports cited on each page say. Flat sizes are counted only where a configuration is one size (2 BHK, not “2 & 3 BHK”); villas, plots, penthouses and duplexes are left out of the flat tables. A median is the middle value: half the listings start below it and half above.
NHB RESIDEX. The city figures the National Housing Bank prints in its national RESIDEX press releases (HPI @ Assessment Prices, built from the values banks and housing finance companies put on homes they lend against, in 50 cities), reproduced as printed with acknowledgement under NHB’s website copyright policy. We do not use NHB’s RESIDEX portal series, which needs NHB’s written permission. NHB RESIDEX is a registered trademark of National Housing Bank.
RERA. New real-estate projects registered with the state RERA authority, counted from its registered-project lists by registration date. Greater Mumbai (Mumbai City and Mumbai Suburban, combined in the source) and Thane district, by financial year as MahaRERA publishes them.
Registrations. Maharashtra IGR’s monthly documents registered in Mumbai City and Mumbai Suburban, all documents and conveyance deeds (Article 25), summed to calendar years and published only as our index (first year = 100) and percentage changes.
Editions. Updated every quarter at this address; each edition is kept as a PDF. This edition uses the tracker as of October 2026 and NHB releases from Q3 2024 to Q2 2026.
How we collect, check and publish research data: Property Nivesh research methodology.
Data sources
- Property Nivesh — price tracker (city and locality averages, yearly history, rental yields) and project pages.
- National Housing Bank — NHB RESIDEX national press releases, quarters ended September 2024 to June 2026, published on the NHB website. NHB RESIDEX is a registered trademark of National Housing Bank.
- Maharashtra Real Estate Regulatory Authority (MahaRERA) — new project registrations by district and financial year.
- Department of Registration and Stamps, Government of Maharashtra (IGR) — monthly documents registered in Mumbai, January 2021 to September 2026, used as an index and percentage changes only.
Limitations
- Asking prices, not registered sale prices. What buyers finally pay can be lower or higher.
- Our project pages cover the projects we follow in Mumbai, many from large listed developers. They are not a random sample of every home for sale, so the price ranges lean towards newer and bigger projects.
- Developers quote prices on different area bases (carpet, built-up or super area). Compare prices per square foot only on the same basis.
- NHB prints only some cities’ figures each quarter. Where NHB did not print a figure, the tables show a dash; nothing is estimated.
- Rental yields are gross: they leave out maintenance, tax, vacancy and the cost of buying.
- Mumbai registrations are shown as an index and changes only; we do not reproduce the department’s counts.
Editions and PDFs
This report is updated every quarter at this address. Each edition is kept as a PDF — findings, charts, data tables, methodology and sources for its period.
- Mumbai Property Price Report — Q3 2026LatestData: January–September 2026 Download PDF
Frequently asked questions
What is the average property price in Mumbai per sq ft? ＋
The average asking price in Mumbai is ₹32,000 per sq ft on the Property Nivesh price tracker, as of October 2026. Worli averages ₹75,000 per sq ft. Prices in the suburbs and the wider Mumbai region are lower.
What is the price of a 2 BHK flat in Mumbai? ＋
On our Mumbai project pages, two-bedroom (2 BHK) flats are listed from ₹3.04 crore. These are premium projects. Our tracker’s Mumbai average of ₹32,000 per sq ft shows that many homes in the city cost much less per square foot.
How much does a 3 BHK flat cost in Mumbai? ＋
Three-bedroom (3 BHK) flats on our Mumbai pages start from ₹1.99 crore. The middle starting price across 8 listings is ₹6.29 crore. Our Mumbai listings lean towards premium projects.
Have property prices in Mumbai gone up? ＋
Yes. On our tracker the average asking price in Mumbai has risen 62% in five years. NHB’s index for the city was 6.2% higher in Apr–Jun 2026 than a year earlier.
What rental yield can I expect in Mumbai? ＋
About 2.6% a year before costs, on our tracker. That is roughly ₹21,700 a month for a home worth ₹1 crore.
Are Mumbai property registrations going up? ＋
Yes. Documents registered in Mumbai rose 10.7% in January–September 2026 on the same months of the year before, and conveyance deeds rose 6.6%, by our index of Maharashtra IGR figures.
How often is this report updated? ＋
Every quarter. The page always shows the latest edition, and each earlier edition is kept as a PDF at a permanent address.
Cite this research
You may quote the findings and reuse the charts under CC BY 4.0. Please credit Property Nivesh Research and link to this page.
Reference (APA style)
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Version history. Report v1.0 (2026-10-11): First publication. · Property Nivesh price tracker and project prices by city v1.0 (2026-10-11): First release: 17 cities, 10 localities, 204 projects (79 priced). · India house price indices by quarter — RBI all-India HPI and NHB RESIDEX national releases v1.0 (2026-10-10): First release: 9 quarters (2024-Q2 to 2026-Q2); NHB figures for 8 quarters. · New RERA project registrations v1.0 (2026-10-09): First release: 1087 HRERA Gurugram registrations (to 2026-09-14), 2277 district counts from 9 RERA authorities. · Property registrations — Mumbai (index) and Hyderabad districts v1.0 (2026-10-11): First release: Mumbai to 2026-09 (index, base 2021); Hyderabad 3 districts, complete years 2022, 2023, 2024.
This research describes official historical data. It is not investment advice, does not forecast prices and does not recommend buying or selling any property. Government circle rates are minimum values for stamp duty, not market prices. See our methodology, editorial standards and disclaimer.