Best answer: What is the highest rent in Mumbai?

In fact, according to a listing available on Sotheby’s International Realty’s website—a luxury real estate brand founded by the Sotheby’s Auction House that lists some of the most premium houses across the globe for rent and sale—the most expensive rental home in Mumbai will cost you Rs 14 lakh a month.

Which is costliest apartment 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

Is rent in Mumbai expensive?

The average rent per month in localities such as Thane and Navi Mumbai can be quite affordable, ranging between Rs 7000 and Rs 15,000. However, the rent in expensive localities like Juhu, south Mumbai, etc., can be around Rs 50,000 to above Rs 1 lakh, depending on the location.

Why rent in Mumbai is very high?

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).

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Which is the most expensive area in Mumbai?

However, Malabar Hill, Cuffe Parade, Juhu Bandra and Worli are the most expensive localities in Mumbai, with property prices hovering at Rs 30,000-60,000 per sq ft. Let us look at the factors propelling the real estate values in these areas.

Who buys expensive flats in Mumbai?

The billionaire nephew of Rahul Bajaj, Anurag Jain bought two flats measuring 6,371 sq ft. The businessman paid Rs 1,56,961 per sq ft for the posh apartments at Carmichael Residences. The ready reckoner rates of the two apartments comes to Rs 46.43 crore, while Jain paid almost double — Rs 100 crore for the flats.

Why Mumbai is so costly?

Apart from that, Mumbai is actually cheaper for food and transport compared to other Indian metro cities. … The major reason why Mumbai is expensive is due to the high land costs. Residential and commercial spaces in Mumbai come at a high price.

Is 30000 a good salary in Mumbai?

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. … For couples or families moving to Mumbai, a decent sized 1 Bhk in such areas can cost you somewhere around Rs.

Where should I live in Mumbai?

Here are our picks for the most inviting neighborhoods of Mumbai.

  1. Bandra Bandstand. Bandra is one of the most happening suburbs in the city and the bandstand area is home to the rich and famous. …
  2. Malabar Hill. …
  3. Altamount Road. …
  4. Hiranandani, Powai. …
  5. JVPD Scheme. …
  6. Pali Hill, Bandra. …
  7. Worli Sea Face. …
  8. Seven Bungalows, Versova.
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How is rent calculated in Mumbai?

Rental yields of a residential property vary between 2.5 percent and 3.5 percent of the market value of the property. For instance, if the market value of your property is Rs 30 lakh, its rental value will range between Rs 7,5000 and Rs 10,5000 and monthly values will differ from Rs 6250 to Rs 8750.

Which is the most posh area in Mumbai?

Here are the top 10 posh areas in Mumbai/Mumbai’s posh area names/posh localities in Mumbai, the most inviting neighbourhoods of Mumbai.

  • Bandra Bandstand. …
  • Malabar Hill. …
  • Altamount Road. …
  • Hiranandani, Powai. …
  • JVPD Scheme. …
  • Pali Hill, Bandra. …
  • Worli Sea Face. …
  • Seven Bungalows, Versova.

How many people in Mumbai live on rent?

Over 7 million people, over 42% of the population of Mumbai, live in informal housing or slums, yet they cover only 6–8% of the city’s land area. Slums were recognized as a problem as early as in 1919 by the Bombay Municipal Corporation. Slum growth rate in Mumbai is greater than the general urban growth rate.

Which area is rich in Mumbai?

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.

Is Juhu better than Bandra?

14 Replies. Bandra will be more expensive than Juhu; you can find decent areas in both. Khar (W) too, but it can be more crowded. There are no huge differences between Bandra and Juhu; both are good residential areas.

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How much money do you need to live comfortably in Mumbai?

How much money do you need to live comfortably in Mumbai? Ans: If you choose to live in suburban areas of Mumbai, you will need an average of 40k-50k/ month which will include your house rent ranging from 18k-25k for 1/2 BHK. In South Mumbai rent alone for 1RK will range from 15k-20k.