The document discusses property prices in various Mumbai neighborhoods between 2015 and 2022. It finds that prices in Mira Road and Panvel increased the most over this period, with a 30% rise. Thane East saw the smallest growth at 10%. Between 2015 and 2022, average prices per square foot in Mumbai (MMR) grew from Rs. 10,280 to Rs. 11,560. The document also provides details on the most active micro-markets for new property launches in 2022 and profiles several top ongoing residential projects in Mumbai.

1. Area-Wise Mumbai Property Rates: MMR Property Prices
Property prices by Mumbai neighbourhood: See how prices have evolved since
2015 in Thane West, Mira Road, Thane East, Panvel, Kalyan, Borivali, Dombivli,
Kandivali, and Malad. Bollywood star Sonam Kapoor recently made headlines for
allegedly selling her opulent Bandra-Kurla Complex flat for Rs 32.5 crore. Twitterati
was alerted to the news after it was revealed that she had bought the
aforementioned house for Rs 31.5 crore in 2015. This information led many social
media users to assert that real estate isn't always profitable.
Are you searching for new projects in kandivali?
Some even asserted that because prices have not increased considerably, the
majority of buyers who made investments in Mumbai real estate in 2015 had faced
the same fate as Sonam. If so, how? Sonam or her family have not publicly
confirmed the specifics of the purchase, but we sought to determine how average
home values have risen since 2015 in various areas of Mumbai. In 2015, the MMR
average price per square foot was Rs 10,280. By 2022, it would be Rs 11,560 per
square foot.

2. Average Mumbai real estate costs during the past year
Year Avg. Prices in MMR (INR/sq.ft.)
2015 10,280
2016 10,482
2017 10,392
2018 10,497
2019 10,595
2020 10,610
2021 10,886
2022 11,569
In the MMR micromarkets of Mira Road and Panvel, the price of real estate
increased the most between 2015 and 2022. Since 2015, prices per square foot in
these areas have increased by 30%.
In the Mira Road neighbourhood, the average price per square foot was Rs 10,800
in 2015; by 2022, it would rise to Rs 14,000 per square foot. Similar to this,
Panvel's average price per square foot was only Rs. 6900 in 2015 but increased
30% to Rs. 9000 per square foot by 2022.
The Thane East micro market experienced the least amount of a rise in home
prices between 2015 and 2022. In Thane East, the average price per square foot in
2015 was Rs 17,550; in 2022, it would be Rs 19,300, a rise of 10%.
Mumbai's most active property marketplaces
In terms of new launches, Thane West, Kalyan, Dombivili, Borivali, & Mira Road
were the most active micromarkets in MMR in 2022. In 2022, Thane West saw the
introduction of 14,712 new units, while Dombivli saw the launch of 10,746 units.

3. Micro Market Launched
Units
Average price
(Year 2022)
(On Carpet)
Average Price
(Year 2015)
(On Carpet)
% Increase –
2022 Vs 2015
Dombivli 10,746 10,500 8,300 27%
Panvel 4,274 9,000 6,900 30%
Mira Road 5,098 14,000 10,800 30%
Kalyan 5,948 9,100 7,200 26%
Thane East 3,704 19,300 17,550 10%
Borivali 5,264 22,000 18,000 22%
Malad 3,968 23,500 20,300 16%
Thane West 14,712 19,100 15,300 25%
Kandivali 4,036 23,000 20,500 12%
In 2022, 5968, 5264, & 5098 new units were launched in Kalyan, Borivali, and Mira
Road, respectively. Thane West experienced the newest releases in 2022, and if we
look at the growth in the area's typical property prices, it had approximately a 25%
increase in 2022 compared to 2021. Thane East experienced the smallest growth
of 10% throughout that time.
Top Projects in Mumbai
RAGHU LEELA REALTORS PRIVATE LIMITED
Borivali
Status Possession by Dec 2027
Possession 2027
About ICON
The massive residential complex Icon, developed by Raghu Leela Realtors Private
Limited, is situated in Mumbai's Borivali West neighbourhood. 3.11 acres will be
used for development of the project.
Click to know more about ICON

4. RUSHABH REAL ESTATE DEVELOPERS PRIVATE LIMITED
Goregaon
Status Possession by Nov 2023
Possession 2023
About MEERAS EMPIRE AND MEERAS CROWN
One of the well-known ongoing development projects in Goregaon (West), Meeras
Empire by Aaress Realty, Rushabh Real Estate, and Mavji Es offers affordable
apartments. The project was introduced in May 2011 as one of Mumbai's Andheri-
most Dahisar's reasonably priced addresses. In May 2023, Meeras Empire
Goregaon (West) is expected to be in possession. Meeras Empire offers incredibly
economical yet gorgeous living with practically all essential utilities in place. This
project may be worthwhile in the long run for those looking for financial options.
Click to know more about MEERAS EMPIRE AND MEERAS CROWN
S D CORPORATION PRIVATE LIMITED
Kandivali
Status Possession by Dec 2026
Possession 2026
About Building No 3 Wing C Aquila
Looking for an apartment in Mumbai's Kandivali East? Aquila is home to the SD
Corporation's project, SD Building No. 3 Wing C. The project has three bedrooms.
It's located on 0.88 Acres. A residential project is now under construction at SD
Building No. 3 Wing C Aquila.
Click to know more about Building No 3 Wing C Aquila

5. MARATHON REALTY PVT LTD
Mulund
Status Possession by Dec 2023
Possession 2023
About MARATHON MONTE CARLO-2
Marathon Monte Carlo, a property that Marathon Realty is currently building in
the outskirts of Central Mumbai, offers luxury with a perfect balance of exclusivity
and elegance. Designer apartments will be located at this forthcoming address,
ensuring the owners' comfort and wellbeing. To ensure comfort and convenience
for its occupants, Marathon Monte Carlo's floor designs and layouts have been
specially created. It assures residents of a stress-free existence where everyone's
independence and privacy are intertwined.
Click to know more about MARATHON MONTE CARLO-2
Ashford Infotech Private Limited
Bhandup
Status Possession by Dec 2022
Possession 2022
About Ashford Royale Tower D
In the outskirts of Central Mumbai, Ashford Royale by Ashford is a development
project that offers luxury with a perfect balance of exclusivity and elegance.
Designer apartments will be located at this forthcoming address, ensuring the
owners' comfort and wellbeing. Ashford Royale's floor designs and layouts are
specially created to assure comfort and convenience for its residents. It assures
residents of a stress-free existence where everyone's independence and privacy
are intertwined.
Click to know more about Ashford Royale Tower D

6. Sandu Developers Pvt. Ltd.
Chembur
Status Possession by Dec 2026
Possession 2026
About Shilpadatta
A recently unveiled property called Sandu Shilpadatta by Sandu Developers in
Mumbai Harbour offers roomy apartments for a reasonable price. You can rent
apartments in Govandi through this project that offers affordable luxury, and
possession is expected to begin in December 2026. Sandu Shilpadatta is the best
alternative for you if you're looking to invest in a mid-range project because it
provides the most lifestyle-friendly investment possibilities in the Mumbai Harbour
real estate market.
Click to know more about Shilpadatta
MACROTECH DEVELOPERS LIMITED
Powai
Status Possession by Dec 2026
Possession 2026
About Lodha Bellagio
In the suburbs of central Mumbai, Lodha Bellagio, a project by Macrotech
Developers, offers luxury with a perfect balance of exclusivity and elegance.
Designer apartments will be located at this forthcoming address, ensuring the
owners' comfort and wellbeing.

7. The Lodha Bellagio is expected to be completed in December 2026 and will feature
large residences with many layout options. To provide comfort and convenience
for its occupants, Lodha Bellagio's floor plans and layouts have been specially
created. It assures residents of a stress-free existence where everyone's
independence and privacy are intertwined.
Click to know more about Lodha Bellagio
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