The Mumbai real estate market continues to thrive, with properties priced up to ₹2 crore leading the way. According to Maharashtra’s property registration data, over 78% of transactions in 2024 fell within this price range, making it the most sought-after segment for homebuyers.
Why up to ₹2 crore is the sweet spot?
Mumbai’s unique demographics and financial landscape make the ₹2 crore segment a sweet spot for a majority of homebuyers. This range caters to middle and upper-middle-income groups, who prioritise affordability, accessibility, and comfort. First-time buyers often opt for 1 BHK apartments, while families look to upgrade to compact 2 BHK homes in suburban and central locations.
Manju Yagnik, Vice Chairperson of Nahar Group, explains, “The ₹2 crore price bracket strikes the perfect balance between aspirations and affordability, offering amenities and quality construction.”
Insights from registration data
Property registration data reveals that out of 1.28 lakh registrations in 2024, 78% were for properties priced up to ₹2 crore. This popularity stems from its accessibility through home loans and government incentives like reduced stamp duty for women buyers.
In key suburban areas like Borivali, Kandivali, and Mulund, buyers can find:
- Studio apartments: ₹50–₹60 lakh
- 1 BHK: ₹1–₹1.25 crore
- 2 BHK: ₹1.5–₹2 crore
Growing demand for premium properties
While up to ₹2 crore properties dominate the Mumbai real estate market, there is a noticeable rise in demand for premium and luxury homes. Properties priced above ₹2 crore now account for 21% of total transactions, reflecting a shift towards larger, high-value homes post-pandemic.
Key projects offering homes under ₹2 crore
Several real estate projects cater to this price-sensitive segment, including:
- Amaryllis Tower and Plaza in Chandivali
- Godrej Nurture in Bhandup
- Raghav Paradise in Borivali
These projects provide well-designed homes, ensuring value for investment within Mumbai’s competitive real estate landscape.
The Mumbai real estate market remains dynamic, driven by consistent demand for homes in the ₹2 crore price range while witnessing steady growth in the premium housing segment. This dual appeal highlights Mumbai’s ability to cater to diverse buyer needs.
