Buying a Property in Mumbai
The cost of buying a property in Mumbai can be exorbitant, even for expats on a reasonably high salary. Real estate prices in Mumbai are among the highest in the world, with rates within the island city (Churchgate, Marine Drive, Napean Sea Road, Malabar Hill, Tardeo, Worli, Prabhadevi, Mahalaxmi, Lower Parel, and Shivaji Park) and Bandra in western Mumbai being out of reach for all but the highest income group categories.New apartments in the above-mentioned localities carry an average price tag of USD 600,000 to 900,000 for an approximately 1,200 sq ft apartment.
Additionally the real estate supply in these areas is under pressure, with the exception of Lower Parel, where more properties are becoming available as old mill lands are redeveloped.
