Area-Wise Mumbai Property Rates: MMR Property Prices
Property prices by Mumbai neighbourhood: See how prices have evolved since 2015 in Thane West, Mira Road, Thane East, Panvel, Kalyan, Borivali, Dombivli, Kandivali, and Malad. Bollywood star Sonam Kapoor recently made headlines for allegedly selling her opulent Bandra–Kurla Complex flat for Rs 32.5 crore. Twitterati was alerted to the news after it was revealed that she had bought the aforementioned house for Rs 31.5 crore in 2015. This information led many social media users to assert that real estate isn’t always profitable.
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Some even asserted that because prices have not increased considerably, the majority of buyers who made investments in Mumbai real estate in 2015 had faced the same fate as Sonam. If so, how? Sonam or her family have not publicly confirmed the specifics of the purchase, but we sought to determine how average home values have risen since 2015 in various areas of Mumbai. In 2015, the MMR average price per square foot was Rs 10,280. By 2022, it would be Rs 11,560 per square foot.
Average Mumbai real estate costs during the past year
| Year | Avg. Prices in MMR (INR/sq.ft.) |
| 2015 | 10,280 |
| 2016 | 10,482 |
| 2017 | 10,392 |
| 2018 | 10,497 |
| 2019 | 10,595 |
| 2020 | 10,610 |
| 2021 | 10,886 |
| 2022 | 11,569 |
In the MMR micromarkets of Mira Road and Panvel, the price of real estate increased the most between 2015 and 2022. Since 2015, prices per square foot in these areas have increased by 30%. In the Mira Road neighbourhood, the average price per square foot was Rs 10,800 in 2015; by 2022, it would rise to Rs 14,000 per square foot. Similar to this, Panvel’s average price per square foot was only Rs. 6900 in 2015 but increased 30% to Rs. 9000 per square foot by 2022.
The Thane East micro market experienced the least amount of a rise in home prices between 2015 and 2022. In Thane East, the average price per square foot in 2015 was Rs 17,550; in 2022, it would be Rs 19,300, a rise of 10%.
Mumbai’s most active property marketplaces
In terms of new launches, Thane West, Kalyan, Dombivili, Borivali, & Mira Road were the most active micromarkets in MMR in 2022. In 2022, Thane West saw the introduction of 14,712 new units, while Dombivli saw the launch of 10,746 units.
| Micro Market | Launched Units | Average price (Year 2022) (On Carpet) | Average Price (Year 2015) (On Carpet) | % Increase – 2022 Vs 2015 |
| Dombivli | 10,746 | 10,500 | 8,300 | 27% |
| Panvel | 4,274 | 9,000 | 6,900 | 30% |
| Mira Road | 5,098 | 14,000 | 10,800 | 30% |
| Kalyan | 5,948 | 9,100 | 7,200 | 26% |
| Thane East | 3,704 | 19,300 | 17,550 | 10% |
| Borivali | 5,264 | 22,000 | 18,000 | 22% |
| Malad | 3,968 | 23,500 | 20,300 | 16% |
| Thane West | 14,712 | 19,100 | 15,300 | 25% |
| Kandivali | 4,036 | 23,000 | 20,500 | 12% |
In 2022, 5968, 5264, & 5098 new units were launched in Kalyan, Borivali, and Mira Road, respectively. Thane West experienced the newest releases in 2022, and if we look at the growth in the area’s typical property prices, it had approximately a 25% increase in 2022 compared to 2021. Thane East experienced the smallest growth of 10% throughout that time.
Top Projects in Mumbai
RAGHU LEELA REALTORS PRIVATE LIMITED
Borivali
Status Possession by Dec 2027
Possession 2027
About ICON
The massive residential complex Icon, developed by Raghu Leela Realtors Private Limited, is situated in Mumbai’s Borivali West neighbourhood. 3.11 acres will be used for development of the project.
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RUSHABH REAL ESTATE DEVELOPERS PRIVATE LIMITED
Status Possession by Nov 2023
Possession 2023
About MEERAS EMPIRE AND MEERAS CROWN
One of the well-known ongoing development projects in Goregaon (West), Meeras Empire by Aaress Realty, Rushabh Real Estate, and Mavji Es offers affordable apartments. The project was introduced in May 2011 as one of Mumbai’s Andheri-most Dahisar’s reasonably priced addresses. In May 2023, Meeras Empire Goregaon (West) is expected to be in possession. Meeras Empire offers incredibly economical yet gorgeous living with practically all essential utilities in place. This project may be worthwhile in the long run for those looking for financial options.
Click to know more about MEERAS EMPIRE AND MEERAS CROWN
S D CORPORATION PRIVATE LIMITED
Kandivali
Status Possession by Dec 2026
Possession 2026
About Building No 3 Wing C Aquila
Looking for an apartment in Mumbai’s Kandivali East? Aquila is home to the SD Corporation’s project, SD Building No. 3 Wing C. The project has three bedrooms. It’s located on 0.88 Acres. A residential project is now under construction at SD Building No. 3 Wing C Aquila.
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MARATHON REALTY PVT LTD
Status Possession by Dec 2023
Possession 2023
About MARATHON MONTE CARLO-2
Marathon Monte Carlo, a property that Marathon Realty is currently building in the outskirts of Central Mumbai, offers luxury with a perfect balance of exclusivity and elegance. Designer apartments will be located at this forthcoming address, ensuring the owners’ comfort and wellbeing. To ensure comfort and convenience for its occupants, Marathon Monte Carlo’s floor designs and layouts have been specially created. It assures residents of a stress-free existence where everyone’s independence and privacy are intertwined.
Click to know more about MARATHON MONTE CARLO-2
Ashford Infotech Private Limited
Status Possession by Dec 2022
Possession 2022
About Ashford Royale Tower D
In the outskirts of Central Mumbai, Ashford Royale by Ashford is a development project that offers luxury with a perfect balance of exclusivity and elegance. Designer apartments will be located at this forthcoming address, ensuring the owners’ comfort and wellbeing. Ashford Royale’s floor designs and layouts are specially created to assure comfort and convenience for its residents. It assures residents of a stress-free existence where everyone’s independence and privacy are intertwined.
Click to know more about Ashford Royale Tower D
Sandu Developers Pvt. Ltd.
Status Possession by Dec 2026
Possession 2026
About Shilpadatta
A recently unveiled property called Sandu Shilpadatta by Sandu Developers in Mumbai Harbour offers roomy apartments for a reasonable price. You can rent apartments in Govandi through this project that offers affordable luxury, and possession is expected to begin in December 2026. Sandu Shilpadatta is the best alternative for you if you’re looking to invest in a mid-range project because it provides the most lifestyle-friendly investment possibilities in the Mumbai Harbour real estate market.
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MACROTECH DEVELOPERS LIMITED
Status Possession by Dec 2026
Possession 2026
About Lodha Bellagio
In the suburbs of central Mumbai, Lodha Bellagio, a project by Macrotech Developers, offers luxury with a perfect balance of exclusivity and elegance. Designer apartments will be located at this forthcoming address, ensuring the owners’ comfort and wellbeing.
The Lodha Bellagio is expected to be completed in December 2026 and will feature large residences with many layout options.
To provide comfort and convenience for its occupants, Lodha Bellagio’s floor plans and layouts have been specially created. It assures residents of a stress-free existence where everyone’s independence and privacy are intertwined.
Click to know more about Lodha Bellagio
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