One of the in-demand and poshest areas of Mumbai is the south Mumbai localities. It is rich in historic buildings and cutting-edge construction that come together to form a distinctively Mumbai culture. The price trend in Mumbai South will give investors and end users a very clear idea of the way that Mumbai’s real estate market is headed. Check out the article to get insights on Property Rates in South Mumbai and Flat rates.
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Property Rates in South Mumbai
One of Mumbai’s upscale neighbourhoods, South Mumbai, is also one of the most expensive places in the country to purchase real estate. It includes Mumbai’s primary business districts and the neighbourhoods around them.
In reality, these areas regularly compare on the global real estate index and are home to some of the world’s billionaires.
South Mumbai, which is found in Salsette Island’s southernmost corner, is home to several upscale residential neighbourhoods.
Great connectivity and premium projects bring the eye of people to buy a house at this location.
Real Estate Overview of South Mumbai 2024
One of Mumbai’s commercial hubs is the neighbourhood of South Mumbai. As a result, demand for residential units in South Mumbai has increased significantly.
Along with the different commercial offices, social infrastructure remains a significant driver of South Mumbai’s explosive growth.
The cost of apartments in South Mumbai is always the highest. The residential developments that are created here are among the most expensive in the entire world, let alone India, and extremely opulent.
Additionally, the connectivity is of the highest calibre with metro and highway connections to nearer places.
In this area of the city, there are no automobiles or rickshaws. The only mode of local transportation is cabs.
Shantanu Tipnis Homebazaar.com’s South Mumbai expert said, ” In the aftermath of the pandemic, South Mumbai has not only weathered the storm but has emerged stronger than ever, attested by a substantial 30% surge in property prices. We recognize that South Mumbai properties are not just assets; they are an embodiment of enduring value and prestige. The unwavering demand for real estate in this iconic region signifies not just an investment, but an affirmation of a lifestyle steeped in opulence and sophistication.”
The entire area has continuous power backup, and the present government intends to build the main highway to connect it to the northern areas of the city.
Also, the international airport is near this locality which makes it a more convenient and high-priced area of the city. All these factors decide the property rates in south Mumbai.
South Mumbai Property Rates Per Square Feet
The most affluent and expensive residential neighbourhood in the city is South Mumbai, where real estate prices have skyrocketed.
Here is a list of localities with the south Mumbai property rates per square feet.
| Locality | South Mumbai Property Rates Per Square Feet (Avg) |
| Parel | Rs. 27,600 |
| Byculla | Rs. 29,500 |
| Colaba | Rs.39,000 |
| Dadar | Rs. 34,000 |
| Lower Parel | Rs. 32,600 |
| Mahalaxmi | Rs. 37,700 |
| Mahim | Rs. 31,000 |
| Prabhadevi | Rs. 39,000 |
| Worli | Rs.38,690 |
| Sewri | Rs. 29,400 |
1 BHK Flat Rates In South Mumbai
South Mumbai is known for its luxury residences and top-notch amenities. The property rates in south Mumbai are like what developers built to give a lifestyle to buyers.
Here are 1 BHK flat rates in South Mumbai localities.
| Locality | 1 BHK Flat Rates In South Mumbai (Rs) |
| Parel | 82.80L – 1.38Cr |
| Byculla | 88.50L – 1.47Cr |
| Colaba | 1.17Cr – 1.95Cr |
| Dadar | 1.02Cr- 1.70Cr |
| Lower Parel | 97.80L – 1.63Cr |
| Mahalaxmi | 1.13Cr – 1.88Cr |
| Mahim | 93L – 1.55Cr |
| Prabhadevi | 1.17Cr – 1.95Cr |
| Worli | 1.16Cr – 1.93Cr |
| Sewri | 88.20L – 1.47Cr |
2 BHK Flat Rates In South Mumbai
Property rates in South Mumbai are always in surge due to the high demand of this location.
Here is a list of localities with 2 BHK flat rates in South Mumbai.
| Locality | 2 BHK flat rates in South Mumbai (Rs) |
| Parel | 1.51Cr – 2.48Cr |
| Byculla | 1.62Cr – 2.65Cr |
| Colaba | 2.14Cr – 3.51Cr |
| Dadar | 1.87Cr – 3.06Cr |
| Lower Parel | 1.79Cr – 2.93Cr |
| Mahalaxmi | 2.07Cr – 3.39Cr |
| Mahim | 1.70Cr – 2.79Cr |
| Prabhadevi | 2.14Cr – 3.51Cr |
| Worli | 2.12Cr – 3.48Cr |
| Sewri | 1.61Cr – 2.64Cr |
3 BHK Flat Rates In South Mumbai
Property rates in south Mumbai continue to increase as it offers a luxurious lifestyle. Many celebrities and actors choose this location as their home.
Here are 3 BHK flat rates in South Mumbai.
| Locality | 3 BHK flat rates in South Mumbai (Rs) |
| Parel | 2.62Cr – 4.14Cr |
| Byculla | 2.80Cr – 4.42Cr |
| Colaba | 3.70Cr – 5.85Cr |
| Dadar | 3.23Cr – 5.10Cr |
| Lower Parel | 3.09Cr – 4.89Cr |
| Mahalaxmi | 3.58Cr – 5.65Cr |
| Mahim | 2.94Cr – 4.65Cr |
| Prabhadevi | 3.70Cr – 5.85Cr |
| Worli | 3.67Cr – 5.80Cr |
| Sewri | 2.79Cr – 4.41Cr |
Also Check out, Stylish Sea Facing Flats In Mumbai
FAQs
| Is South Mumbai a rich area?
South Mumbai is known as an elite area as it has signs of historic culture and also most of the celebrities are living in this location and the developers are offering luxurious apartments with all top-notch amenities. |
| Why is South Mumbai so expensive?
Due to its historic structures, like the Asiatic Library, the Gateway of India, and the well-known Kala Ghoda festival, south Mumbai is regarded as the most expensive area. |
| Why there are no autos in South Mumbai?
Autos are not allowed in the South Mumbai locality to avoid congestion in the central part of the city. |
| How much does a flat cost in South Mumbai?
The average per square foot rate in south Mumbai is around Rs. 32,000-Rs. 38,000. |
