Are flats in Mumbai expensive?

How much does a flat cost in Mumbai?

The average weighted cost of an apartment in Mumbai is Rs 3.03 crore or Rs 20,449 per square foot.

Why are flats expensive in Mumbai?

A combination of factors such as distance from the prime South city centres to the suburbs, coupled with lack of robust infrastructure connecting these places, has led to prices surging in the prime city centres and the immediate peripheries such as Prime North (Bandra-Juhu) and South Central (Byculla-Chembur).

How much does a luxury apartment in Mumbai cost?

3 BHK Luxury Apartment in Dadar (West)

Property Details Locality Price (per Sqft)
₹ 19 Crore – 19.8 Crore, 4212 – 4443 sq.ft.( 391.31-412.77 sq.m. ), 4 BHK Luxury Apartment in Bandra (West) 81 Aureate , Bandra (West) ₹ 44,836/sq.ft.

Are houses in Mumbai expensive?

The average home prices in these localities hover between Rs 31,000 per sq ft and Rs 39,000 per sq ft. According to Amit Desai, Owner, Propinvest Equity, “When compared to the other metro cities in India, including Delhi NCR and Bangalore, property prices in Mumbai are costlier by 30-40 percent.

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Why is Mumbai property so expensive?

The house price-to-monthly income ratio—the average number of monthly incomes required to own a house—in Mumbai is the highest among major Indian cities, according to a study by the Reserve Bank of India (RBI).

How expensive is housing in Mumbai?

List of posh areas in Mumbai

Area Average property price (per sq ft) Average rent per month
Cuffe Parade Rs 48,750 Rs 3 lakhs
Tardeo Rs 47,786 Rs 2.5 lakhs
Juhu Rs 44,442 Rs 1.75 lakhs
Bandra west Rs 42,691 Rs 95,000

Which is the costliest flat in Mumbai?

Price trends in the costliest areas of Mumbai

Area Average property prices (per sq ft) Average rent per month
Tardeo Rs 47,786 Rs 2.5 lakhs
Juhu Rs 44,442 Rs 1.75 lakhs
Bandra west Rs 42,691 Rs 95,000
Worli Rs 37,013 Rs 80,000

Who owns the most expensive house in Mumbai?

1. Antilia. Situated on Altamount Road, one of the most exclusive roads in Mumbai. It is owned by billionaire businessman Mukesh Ambani, it reportedly costs around 12000 crores.

Is Mumbai an expensive city?

Mumbai remains the most expensive city for expatriates surveyed in India and among the top 20 in Asia, shows the Mercer 2021 Cost of Living City Ranking. … In all, five Indian cities feature on the list. After Mumbai, New Delhi is ranked 117, Chennai 158, Bengaluru 170 and Kolkata 181.

Where do middle class live in Mumbai?

Chembur is one of the best localities to live or purchase the property for a middle-class family in Mumbai. The localities in the South Mumbai region are highly expensive such as Malabar Hills, Bandra, Worli and other parts like Andheri, Powai, etc are out of reach for a middle-class family.

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Is rent expensive in Mumbai?

The rents vary according to the area of your choice. Mumbai provides you with various options ranging from as low as Rs. 5000-12000 per month in areas like Navi Mumbai, Thane, etc. to as high as Rs. 30000-50000 in areas like South Mumbai, Juhu, etc.

Which is the best place in Mumbai to live?

7 Best Places to Live in Mumbai for Families on Rent

  • Best Areas to Live in Mmbai for Families.
  • Colaba- Cuffe Parade.
  • Worli- Lower Parel.
  • Dadar-Matunga-Parel.
  • Juhu.
  • Powai.
  • Ghatkopar East.
  • Borivali.

What is the cost of Mukesh Ambani house?

Antilia (building)

Antilia
Opening 2010
Cost US $2.6 billion
Owner Mukesh Ambani
Height 173 m (568 ft)

Which part of Mumbai is rich?

The rich people of Mumbai live in some of the most expensive areas of the city. The most expensive street of Mumbai is Altamount Road, where several billionaires live. The area is Tardeo. Apart from these, the rich live in Cuffe Parade, Breach Candy, Worli, and Mahalaxmi.

Which is the cheapest place to live in Mumbai?

Malad is regarded as the cheapest residential area to live in Mumbai. Burgeoning demand for household hubs and good accommodations for the upper-class and middle-class population has been soaring. Malad connects with other major locations by SV Road, Link Road, and NH-8 Ferry.