Looking to buy an apartment in Mumbai for Rs 1 crore? These areas in the suburbs look promising

It seems there are still certain areas in Mumbai, Maharashtra, where you can get a home for Rs 1 crore in 2025 and still be in close proximity to the lifeline of Mumbai, which is the local train stations and metro line in some cases. This is good news especially considering that Mumbai is one of India’s costliest real estate markets. According to a research by 1Finance, western suburbs like Goregaon, Malad, Kandivali, and Borivali are some of the areas where the apartment’s price range is between Rs 21,058 and Rs 28, 277 per square foot (PSF).

“These areas (mentioned above) host MNCs, corporate parks, and amenities such as Sanjay Gandhi National Park, Nesco, and Inorbit. They have excellent connectivity via the Western Railway and Metro Line 2A, making them a prime hub for both work and leisure,” 1Finance said in a press release on April 16, 2025.

How big of an apartment can you get for Rs 1 crore in Mumbai?

While the above data shows you can buy an apartment for Rs 1 crore in Mumbai city, the question is how big or small is the size of such an apartment. 1Finance research data shows that if Rs 1 crore could have bought a 453 square feet size home in Goregaon East in 2021, then in the same area you can now get a 364 square feet size apartment for Rs 1 crore.

Similarly, in Malad East, you could have got a 562 square feet size apartment in 2021 for Rs 1 crore but in 2025, you can get only 447 square feet apartment in Malad East for Rs 1 crore.

The table below shows a comparison bewteen how much area you could have got for Rs 1 crore in 2021 vs the area of an apartment you can buy in 2025

Source: 1 Finance Mumbai Home Price Index

As per the report, during the 2021 and 2025, Goregaon East prices appreciated the most, followed by those in Malad East and Borivali West. “As of February 2021, Malad East offered the best value at 562 square feet/crore, but by February 2025, Kandivali West became the most affordable at 475 square feet/crore. Kandivali East leads with the highest 10-year growth rate of 6% pa, followed by Borivali West at 5% per annum,” the report from 1Finance stated.

Which areas of Mumbai still offer affordable housing for Rs 1 crore?

Data seems to suggest that though Mumbai is an expensive city to buy a house, but the western suburbs area within the city still offer affordable housing options. For residents of Mumbai wanting to purchase a home for the first timein the city, theseareas appears to be within reach financiallyBorivali, Kandivali, Malad, and Goregaon (western suburbs) offer affordable and luxury housing, attracting diverse buyers. In 2024, 33% of Greater Mumbai's property registrations were from the Western Suburbs, with 58% from these areas. First-time buyers can find 1 BHKs for Rs 1-1.5 crore, making them ideal for affordable housing.

Animesh Hardia, Senior Vice President of Quantitative Research at 1 Finance, said, “The Western Suburbs of Mumbai continue to be a focal point for residential development, representing 41% of Greater Mumbai's 2024 launches, with Borivali, Kandivali, Malad, and Goregaon accounting for 72% of this activity. The operational Metro Lines 2A and 7, alongside thriving corporate parks and retail hubs, continue to drive steady price growth. However, buyers should note that the current property supply would take approximately four years to be absorbed in present sales rates, reflecting Greater Mumbai's broader market challenges."

Source: 1 Finance report