Mumbai
The real estate market in Girgaon serves as a premium hub in Mumbai, characterized by high-value residential developments and consistent demand. Prices for apartments currently average ₹1.16 Lakh per sq ft, supported by a steady flow of both ready-to-move and under-construction projects. Rental activity remains robust, with a diverse range of units catering to various budgets, while government registration data highlights a high volume of transactions contributing to a significant gross market value. Developers are actively shaping the skyline, with several projects establishing new benchmarks for both sale and rental rates.
As of June 2026, the average asking price in Girgaon stands at ₹1.16 Lakh per sq ft. This figure reflects a significant appreciation of 49.22% compared to the previous period, indicating strong demand and market activity within this prime South Mumbai location.
The average asking price in Girgaon is ₹1.16 Lakh per sq ft, which is notably higher than the Government Registration Rate of ₹25,900 per sq ft as of June 2026. This gap between the market-driven asking price and the government-notified rate is common in premium, well-established localities where demand for residential space consistently outstrips supply.
As of June 2026, the average rental rate for apartments in Girgaon is ₹150 per sq ft, which has seen a depreciation of 4.46% over the observed period. Despite this, the overall average rental rate across all property types in the locality is ₹157 per sq ft, reflecting a 12.14% appreciation compared to the prior period.
The rental yield in Girgaon is currently 1.63% as of June 2026. For investors, this yield represents the annual rental income relative to the capital investment, helping to gauge the income-generating potential of residential assets in this high-value market.
Rental rates in Girgaon vary significantly based on unit size as of June 2026: 1 BHK apartments average ₹52,550 per month, 2 BHK units average ₹1.23 Lakh per month, and 3 BHK units command an average of ₹2.43 Lakh per month. These figures allow tenants and investors to align their budgets or income expectations with specific space requirements in the locality.
As of June 2026, top projects by rental rates in Girgaon include Unity House Girgaon and Bhagya Laxmi Apartment Giragaon, both commanding ₹200 per sq ft. Other premium options include Purav Heights at ₹181 per sq ft and Bhagwan Arab Building at ₹178 per sq ft, with the latter showing no change in rental pricing over the tracked period.
Property prices in Girgaon have shown a fluctuating trajectory in the micromarket rate over the last year. As of June 2026, the micromarket rate is ₹41,150 per sq ft, down from ₹46,350 per sq ft in March 2026 and December 2025, following a period of relative stability from September 2025.
As of June 2026, property prices in Girgaon vary by status: Ready To Move units average ₹41,800 per sq ft (up 13.99%), Under Construction units average ₹39,950 per sq ft (up 3.39%), and New Launch projects average ₹46,700 per sq ft (up 39.6%). These variations reflect the premium associated with immediate possession versus the potential for future value appreciation in new projects.
Among areas surrounding Girgaon, Altamount Road commands the highest average asking price at ₹1.31 Lakh per sq ft (up 38.64% as of June 2026), while Nagpada has a lower average asking price of ₹35,100 per sq ft (down 11.81%). Other notable rates include Marine Lines at ₹99,900 per sq ft and Grant Road at ₹55,700 per sq ft.
As of June 2026, Raj Developers leads the transaction activity in Girgaon with 5 recorded transactions. Other active developers in the locality include Lakadawala Developers, Sanghvi Group, Parth Constructions, and Shagun Construction, each contributing to the local market liquidity.
As of June 2026, the most premium projects in Girgaon by listing rate include New Shreeniketan Building at ₹72,750 per sq ft, followed by Sumer Grande and Hubtown Realms, both priced at ₹71,200 per sq ft. These projects represent the higher end of the local market, with Sumer Grande and Hubtown Realms showing a 2.39% appreciation.
Potential buyers should use this data to compare the average asking price of ₹1.16 Lakh per sq ft against specific project rates and the Government Registration Rate of ₹25,900 per sq ft. By analyzing the 49.22% appreciation in apartment prices and the status-wise breakdown, buyers can better understand whether to prioritize Ready To Move units or explore Under Construction opportunities for potential long-term value.
