You asked: How much does it cost to buy a house in Mumbai?

How much does a house cost in Mumbai?

List of posh areas in Mumbai

Area Average property price (per sq ft) Average rent per month
Cuffe Parade Rs 48,750 Rs 3 lakhs
Tardeo Rs 47,786 Rs 2.5 lakhs
Juhu Rs 44,442 Rs 1.75 lakhs
Bandra west Rs 42,691 Rs 95,000

Is it easy to buy a house in Mumbai?

Being one of the most expensive real estate markets of India, Mumbai surely makes home buying a difficult decision for first-time buyers. … So if you too are looking for your first home in the financial capital of India, here are the prospective locations where you can find a home in your budget.

Which area is cheapest to buy a house in Mumbai?

The Top Five Locations for Buying Affordable Property in Mumbai

  • Mira Road. Middle-class property buyers looking for relatively affordable housing need not look beyond Mira Road-Bhayander. …
  • Ulwe. …
  • Kharghar. …
  • Badlapur. …
  • Vasai-Virar.

How much does a nice house in India cost?

The median price paid by the bottom quintile to buy a house is Rs1 lakh, while the median price paid by the top quintile to buy a house is Rs10 lakh. The median price paid by the richest 1% to buy a house is Rs18 lakh, according to the survey.

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Which part of Mumbai is rich?

The rich people of Mumbai live in some of the most expensive areas of the city. 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 Mumbai very expensive?

Mumbai is one of the most expensive cities in the world. For the amount you pay in Mumbai as rent, you would probably find houses in different parts of the world.

Why is buying a house in Mumbai so expensive?

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).

How can I buy a flat in Mumbai?

Documents required for buying a property are as follows:

  1. Draft Agreement – Sale Deed. …
  2. Property owner’s original agreement – You can see this agreement and also take a copy of it.
  3. Earlier sale deeds/sale documents if the case is of reselling.
  4. Share Certificate of the society.
  5. Bills such as of electricity, telephone.

Why are there no houses in Mumbai?

“There is a huge demand for low cost housing but no one is building them because builders don’t find it profitable enough,” said housing activist Vishwas Utagi of the Nivara Abhiyan. “They prefer to build for the luxury segment where returns are high. Builders have cornered huge tracts of land and jacked up the prices.

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Is 30000 a good salary in Mumbai?

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. 8000-Rs 15000.

Where do middle class live in Mumbai?

7 Best Places to Live in Mumbai for Families on Rent

  • Best Areas to Live in Mmbai for Families.
  • Colaba- Cuffe Parade.
  • Worli- Lower Parel.
  • Dadar-Matunga-Parel.
  • Juhu.
  • Powai.
  • Ghatkopar East.
  • Borivali.

How expensive is land in Mumbai?

Top localities in Mumbai include Dadar East where prices are Rs 31,000 per sq ft on an average followed by Matunga at Rs 29,900 per sq ft, Dadar West with average property rate at Rs 34,600 per sq ft and Bandra East where you can opt for a property for an average rate of Rs 28,335 per sq ft.