Property Rent Rates & Price Trends in Mumbai - 2019
Tinsel town, Mumbai sees a lot of migration both from within the state of Maharashtra as well as from other states. Over 70 per cent of the migration is from other cities of Maharashtra. Mumbai lures these migrants as employment opportunities in the city can assure a better economical and social status. Besides jobs, young families can also avail of facilities like reputed educational institutions and other social infrastructure.
If you are looking at taking up a property on rent in Mumbai, where should you look? Do note that smaller units such as a 2BHK unit move well in the market.
- In terms of configuration, 2BHK units are the most popular in Mumbai with over 28113 such properties on rent. It is followed by 1BHK units with over 16,000 properties listed on Makaan.com.
- Kharghar, Mira Road, Thane West, Majiwada, Kalyan West, Kandivali East and West, Majiwada, Ghodbunder Road, Kharegaon, Mira Bhayandar, Badlapur West, Virar, Seawoods, Titwala East, Nalasopara, Borivali, Malad East, Ulwe, Nerul etc are among localities where you can rent a 2BHK unit within Rs 20,000 per month.
- The rental range in top localities where liveability quotient is rated 10 on a scale of 10 include Dadar East where rents could vary from Rs 22,000 to Rs 3.40 lakh, Matunga where rents are in the range of Rs 31,000 to Rs 4 lakh, Dadar West where prices are Rs 21,000 to Rs 3.75 lakh and Bandra East where your landlord could ask for anywhere between Rs 14,000 to Rs 5.5 lakh. Configurations may vary.
- Across Mumbai, there are 14,501 fully-furnished homes as of February 2018. You can see an exhaustive list with price per month here.
- Luxury abodes on rent priced above Rs 10 lakh per month include Wagle Estate, Prabhadevi, Tardeo, Bandra, Malabar Hill, Juhu, Worli, Union Park Road etc. Security deposits may go up to Rs 50 lakh.
- If you are looking at popular locations with maximum supply in Central Mumbai, bank on Powai with 2,507 properties, Bhandup West with 715 properties and Chandivali with 647 units on rent.
- Mira Road East with as many as 886 listed units, Virar with 549 units and Nalasopara with 434 units are the popular areas when it comes to affordable units on rent in Mira Road and Beyond region.
- Looking for rental homes in the Andheri to Dahisar stretch? Bank on Kandivali East with 1,959 units, Andheri West with 1,737 units and Goregaon East with 1,403 properties on rent.
- Beyond Thane, Dombivali with 436 properties on rent, Kalyan West with 165 listings and Dombivali East with 151 properties on rent are the most popular picks.
- Looking for areas close to Mumbai Harbour? Chembur has maximum properties on rent with 1,775 listed properties, Chembur East with 1,001 units and Tilak Nagar with 689 units are the most popular in this region.
- The annual rental yield in Mumbai is 3.853055 percent. This means you could recover 3.853055 percent of the property cost in a year if you put the property on rent. This calculation is based on the average rates in the city and is not fixed.
|Locality Name||Rental Rates|
|1 BHk||2 BHK||3 BHK|
|Rent range||Avg rent||Rent range||Avg rent||Rent range||Avg rent|
|Kharghar||12,800||12,800||17,000 - 24,000||20,500||17,000||17,000|
|Thane West||8,000 - 15,000||12,100||4,000 - 40,000||23,000||46,000 - 85,000||63,666.67|
|Mira Road East||8,000 - 20,000||12,250||25,000||25,000||14,500 - 1.6 L||24,280.7|
|Kandivali East||98,000||98,000||30,000||30,000||26,800 - 3.5 L||49,357.83|
|Powai||5,000 - 22,000||14,125||7,400 - 80,000||52,550||75,000||75,000|
|Chembur||12,000||12,000||10,000 - 52,000||31,000||1.1 L||1,10,000|
|Goregaon East||8,500||8,500||30,000||30,000||14,500 - 2.2 L||77,821.9|
|Titwala||1,500||1,500||8,000 - 10,000||8,785.71||38,000||38,000|
|Bandra West||10,000 - 75,000||42,500||50,000 - 95,000||74,600||1.2 L||1,25,000|
|Dombivali||3,000 - 50,000||9,541.93||10,000||10,000||9,900 - 37,000||16,91.89|
|Borivali East||12,500 - 33,500||21,309.09||7,000 - 1.3 L||48,000||45,000 - 70,000||57,500|
|Seawoods||9,300 - 17,000||13,150||18,500 - 28,000||22,625||22,000 - 25,000||23,500|
|Andheri West||4,500 - 47,000||24,000||1.1 L||1,10,000||1.1 L||1,10,000|
|Kamothe||7,500 - 90,000||22,250||8,500 - 70,000||49,500||8,000 - 1.1 L||19,360.47|
|Malad East||7,000||7,000||1.4 L||1,40,000||42,000 - 6 L||63,53.95|
|Neral||2,000 - 22,000||13,100||10,000 - 45,000||27,93.33||42,000 - 55,000||49,000|
|Bhandup West||5,500 - 18,000||11,125||25,000 - 65,000||35,656.25||42,000 - 60,000||54,000|
|Virar||6,000||6,000||8,000||8,000||9,000 - 15,000||11,500|
|Dombivali East||12,000||12,000||6,500 - 30,000||13,291.35||13,000 - 30,000||18,475|
|Borivali West||10,000 - 22,000||16,000||23,000 - 29,000||26,000||22,000 - 1.2 L||46,468.84|
|Panvel||4,500 - 20,000||9,850||5,000||5,000||15,000 - 36,000||20,222.22|
|Mulund West||4,500 - 30,000||20,875||24,500||24,500||40,000 - 65,000||49,111.11|
|Andheri East||7,000 - 90,000||24,837.5||34,000 - 50,000||42,000||21,000||21,000|
|Kandivali West||9,500 - 35,000||20,114.68||32,000||32,000||30,000 - 2.2 L||55,25.42|
|Chandivali||15,000 - 50,000||32,522.99||8,000 - 1 L||49,924.7||35,000 - 1.5 L||69,356.14|
|Goregaon West||12,000 - 22,000||18,000||65,000||65,000||50,000 - 1.2 L||85,000|
|Nerul||18,000||18,000||24,000 - 35,000||29,500||80,000||80,000|
|Tilak Nagar||30,000||30,000||45,000 - 47,000||46,000||51,000||51,000|
|Badlapur West||7,000||7,000||7,500||7,500||8,000 - 9,000||8,500|
|Jogeshwari East||8,250 - 67,000||25,472.75||28,500 - 75,000||55,281.61||60,000||60,000|
|Ambernath East||4,500 - 10,000||6,761.9||6,500 - 13,000||8,807.69||22,000||22,000|
|Taloja||5,000||5,000||5,500 - 1.4 L||21,540||88,000||88,000|
|Parel||18,000 - 32,000||25,000||65,000||65,000||24,000 - 3.8 L||1,41,93.89|
|Khar West||17,000||17,000||50,000 - 2 L||83,38.56||95,000||95,000|
|Vasai||6,500 - 44,000||12,29.41||12,500||12,500||15,000||15,000|
|Dahisar||11,000 - 35,000||14,590.48||15,000 - 75,000||18,387.18||50,000||50,000|
|Ghansoli||5,000 - 14,000||8,32.14||19,500||19,500||26,000 - 80,000||45,678.31|
|Lower Parel||35,000||35,000||1.5 L||1,50,000||1.2 L||1,25,000|
|Kanjurmarg||35,000||35,000||28,000 - 70,000||39,521.43||40,000 - 85,000||58,863.64|
|Jogeshwari West||7,000||7,000||17,000 - 65,000||40,712.88||40,000 - 82,000||63,642.86|
|Koperkhairane||5,500 - 7,500||6,571.43||6,500 - 17,000||11,750||50,000||50,000|
|Andheri||27,000||27,000||30,000||30,000||22,000 - 75,000||48,500|
|Ambernath West||5,000||5,000||7,000 - 10,000||8,666.67||-||-|
|Prabhadevi||20,000 - 33,000||25,833.33||10,000 - 2.7 L||96,653.85||20,000 - 7.5 L||1,92,848.39|
|Bhayandar East||5,000 - 85,000||16,111.11||13,500 - 30,000||18,208.33||25,000 - 36,000||32,000|
|Wadala||4,000||4,000||25,000 - 2.2 L||59,480||29,000 - 1.9 L||78,584.25|
|Bhiwandi||5,000 - 20,000||10,430.77||12,000||12,000||17,000 - 45,000||22,538.46|
|Manpada||16,000||16,000||15,000 - 40,002||25,998.52||6,000 - 4 L||45,217.24|
|Bandra East||30,000||30,000||43,000 - 1.5 L||81,100||50,000 - 2.7 L||1,58,292|
|Dronagiri||4,500 - 12,500||6,166.67||7,500 - 10,000||8,750||-||-|
|Karanjade||4,500 - 10,000||6,841.67||15,000||15,000||-||-|
|Belapur||9,000 - 22,000||14,724.14||35,000 - 40,000||37,500||31,000 - 35,000||32,750|
|Nala Sopara||2,800 - 7,500||5,335.59||6,500 - 16,000||9,576.92||12,500 - 15,000||13,750|
|Virar West||5,500 - 9,000||7,250||5,000 - 95,000||12,79.17||-||-|