Property rates in Girgaon average ₹1.16 Lakh per sq ft, reflecting a dynamic real estate environment for investors and homebuyers. The area maintains a steady market presence with diverse residential options, from luxury apartments to well-established projects. With rental yields around 1.63% and a variety of ready-to-move and under-construction developments, the locality continues to attract interest from those seeking premium living spaces in the heart of South Mumbai.
Insights for Girgaon, Mumbai Real Estate Market Overview
Girgaon presents a highly established residential market in South Mumbai, characterized by a significant inventory of ready-to-move apartments and a steady pipeline of new projects. The area balances its historical charm with modern living, as reflected in the diverse pricing across various micro-pockets and project statuses. Rental demand remains consistent, with significant yields observed across different unit configurations, catering to a wide range of professional and family requirements. Government registration data highlights a robust transaction volume, further underscoring the locality's enduring appeal to both end-users and long-term investors.
Ready-to-move properties dominate the supply with 148 units, while 22 projects are currently under construction.
Rental rates average ₹157 per sq ft, with 3 BHK units commanding monthly rents of approximately ₹2.43 Lakh.
High-value transactions are supported by a steady registration market, recording 234 transactions worth ₹397 Cr.
Top-tier residential projects such as New Shreeniketan Building and Sumer Grande anchor the premium pricing segment.
Developer activity is notably led by Raj Developers, who recorded the highest transaction frequency in the region.
Market Strengths
Strong rental demand is evidenced by an average rental rate of ₹157 per sq ft across the locality.
High-value projects like New Shreeniketan Building maintain a strong price benchmark of ₹72,750 per sq ft.
The market benefits from a diverse supply of 148 ready-to-move units, catering to immediate housing needs.
Significant transaction volume of 234 deals underscores the high liquidity of the Girgaon real estate market.
Premium micro-markets like Malabar Hill continue to grow with a 3.59% increase in property rates.
Established developer presence with Raj Developers ensures project credibility and consistent market activity.
Market Challenges
Rental rates for apartments have seen a slight adjustment, with a change of -4.46% in the current market cycle.
High-end residential areas like Walkeshwar and Kemps Corner have experienced price volatility with changes of -15.37% and -31.13% respectively.
Nagpada has seen a market correction in asking rates of -11.81%, reflecting localized demand shifts.
Rental rates in the Girgaum Chowpatty area have softened by -10.92%.
Investment Opportunities
Rental yields of 1.63% provide a stable return for apartment investors in the Girgaon locality.
Ready-to-move units offer immediate rental income potential with an average monthly rent of ₹52,550 for 1 BHK configurations.
The 3 BHK rental market is robust, with average monthly returns reaching ₹2.43 Lakh.
Under-construction projects at ₹39,950 per sq ft present a entry point for long-term capital appreciation.
New launch projects at ₹46,700 per sq ft allow investors to capture early-stage growth in the premium segment.
Top Localities in Girgaon, Mumbai
Charni Road
Avg Price₹ 81,650 /Sq.Ft.
LISTINGS
2
Price Trend
Girgaon, Mumbai Property Price Trends and Appreciation
Girgaon is surrounded by diverse micro-markets that each command distinct price points. Altamount Road stands at a premium of ₹1.31 Lakh per sq ft, while Marine Lines and Malabar Hill hover around ₹99,900 and ₹95,700 per sq ft, respectively. Further into the locality, areas such as Grant Road and Kemps Corner offer more accessible options at ₹55,700 and ₹55,650 per sq ft. This variety allows buyers to choose between ultra-luxury corridors and more competitively priced residential pockets.
Residential apartments in Girgaon remain the primary focus for the market, with an average price of ₹1.16 Lakh per sq ft. This category has seen a notable shift in valuation, recording a change of 49.22% as demand for quality housing grows.
The market offers a balanced mix of development stages to suit different buyer timelines. Ready to Move inventory is the most abundant with 148 units, averaging ₹41,800 per sq ft, while 22 Under Construction projects are priced at ₹39,950 per sq ft. New launches are also entering the space at an average of ₹46,700 per sq ft, providing fresh opportunities for those looking for modern specifications.
Project & Developer Insights
Top Residential Projects and Developers in Girgaon
Top Projectsin Girgaon
LnT Island Cove is the top project in Girgaon with prices from ₹ 3.40 Cr to 6.34 Cr.
LnT Island Cove
₹ 3.40 Cr - ₹ 6.34 Cr
Mumbai South, Mumbai
JP Codename Matunga Origins
₹ 2.93 Cr - ₹ 4.23 Cr
Mumbai South, Mumbai
Godrej Trilogy
₹ 18.88 Cr - ₹ 29.95 Cr
Mumbai South, Mumbai
Piramal Mahalaxmi
₹ 5.45 Cr - ₹ 14.03 Cr
Mumbai South, Mumbai
Runwal Timeless
₹ 1.59 Cr - ₹ 3.5 Cr
Mumbai South, Mumbai
Kalpataru Azuro
₹ 45 Cr - ₹ 71.98 Cr
Mumbai South, Mumbai
Lodha Malabar
Price On Request
Mumbai South, Mumbai
Lodha Sea Face
Price On Request
Mumbai South, Mumbai
Prestige Ocean Towers
₹ 26 Cr - ₹ 50.68 Cr
Mumbai South, Mumbai
Godrej Carmichael
₹ 87.92 Cr - ₹ 87.92 Cr
Mumbai South, Mumbai
View More
New Launch
Under Construction
Ready to Move
Top Developersin Mumbai
Ruparel leads in Mumbai with 44 projects and 19 years of experience.
Premium residential developments in Girgaon define the high-end market segment. New Shreeniketan Building leads the listing rates at ₹72,750 per sq ft, followed closely by Sumer Grande and Hubtown Realms at ₹71,200 per sq ft. Rohan Lifescapes Arihant and Unity House Girgaon also offer significant value at ₹70,350 and ₹68,200 per sq ft respectively, cementing the area's reputation for luxury living.
Top projects such as Unity House Girgaon and Bhagya Laxmi Apartment lead the rental market with rates of ₹200 per sq ft. Other notable developments like 232 Dhuleva have shown significant momentum with a 43.52% increase in rental value, while projects like Shreepati Jewels Ruby and Shagun Krishvi Heights offer stable rates at ₹150 per sq ft.
The development landscape is driven by active builders who command significant buyer trust. Raj Developers leads the market with 5 transactions, establishing a dominant presence. Other contributors such as Lakadawala Developers, Sanghvi Group, Parth Constructions, and Shagun Construction also maintain a steady footprint in the region.
Government Registrations
Government Registration in Girgaon, Mumbai
Recent government registration data for Girgaon shows a healthy market with 234 transactions totaling ₹397 Cr. The registered rate of ₹23,900 per sq ft indicates strong buyer interest. Raj Developers leads the transaction volume with 5 registered deals, followed by other notable builders including Lakadawala Developers and Sanghvi Group.
Sales Transactions234
Gross Sales Value₹ 397 Cr
Registered Rate₹ 23,900/Sq.Ft
Rental Trends
Rental Trends and Average Rent in Girgaon, Mumbai
Rental options in Girgaon cater to diverse needs, with 1 BHK apartments averaging ₹52,550 per month. Those seeking larger spaces can opt for 2 BHK units at ₹1.23 Lakh per month or 3 BHK units, which command an average of ₹2.43 Lakh per month. Rental rates vary significantly across the locality, with Babulnath and Gamdevi commanding the highest rates at ₹250 per sq ft. Marine Drive and Grant Road follow with an average of ₹200 per sq ft, while Kamathipura and Dalal Estate offer more moderate rental options at ₹150 per sq ft. The apartment rental market remains the core segment in Girgaon, with an average rate of ₹150 per sq ft. This segment has shown a slight annual adjustment of -4.46% as the market aligns with current demand. Top projects such as Unity House Girgaon and Bhagya Laxmi Apartment lead the rental market with rates of ₹200 per sq ft. Other notable developments like 232 Dhuleva have shown significant momentum with a 43.52% increase in rental value, while projects like Shreepati Jewels Ruby and Shagun Krishvi Heights offer stable rates at ₹150 per sq ft.
Rental options in Girgaon cater to diverse needs, with 1 BHK apartments averaging ₹52,550 per month. Those seeking larger spaces can opt for 2 BHK units at ₹1.23 Lakh per month or 3 BHK units, which command an average of ₹2.43 Lakh per month.
Rental rates vary significantly across the locality, with Babulnath and Gamdevi commanding the highest rates at ₹250 per sq ft. Marine Drive and Grant Road follow with an average of ₹200 per sq ft, while Kamathipura and Dalal Estate offer more moderate rental options at ₹150 per sq ft.
The apartment rental market remains the core segment in Girgaon, with an average rate of ₹150 per sq ft. This segment has shown a slight annual adjustment of -4.46% as the market aligns with current demand.
Frequently Asked Questions About Property Rates in Girgaon, Mumbai
What is the average asking price in Girgaon as of June 2026?
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, signaling strong market demand and high investor interest in this prime residential locality.
How have property rates in Girgaon trended over the recent quarters?
Property rates in Girgaon have shown a fluctuating trend in the recent quarters. 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, which indicates a recent market correction after a period of price stability observed between September 2025 and March 2026.
How does the average asking price in Girgaon compare to the Government Registration Rate?
The average asking price in Girgaon is currently ₹1.16 Lakh per sq ft, which is notably higher than the Government Registration Rate of ₹25,900 per sq ft. This gap between the market-driven asking price and the government-notified rate is common in premium, high-demand areas and suggests that buyers should account for both figures when calculating their total investment and stamp duty obligations.
What is the price difference between Ready To Move and Under Construction properties in Girgaon?
As of June 2026, Ready To Move properties in Girgaon command an average price of ₹41,800 per sq ft, having appreciated by 13.99% over the observed period. In contrast, Under Construction projects are priced at an average of ₹39,950 per sq ft, showing a more modest appreciation of 3.39%, which reflects the typical premium buyers pay for immediate possession and reduced project risk.
What is the current average rental rate and rental yield in Girgaon?
The average rental rate in Girgaon is ₹157 per sq ft as of June 2026, which has appreciated by 12.14% compared to the previous period. The current rental yield is 1.63%, a metric that helps investors evaluate the annual income potential relative to the capital investment required for property ownership in this locality.
How does the monthly rent vary by BHK configuration in Girgaon?
Rental rates in Girgaon vary significantly based on the unit type as of June 2026. A 1 BHK apartment typically rents for ₹52,550 per month, while 2 BHK units average ₹1.23 Lakh per month, and 3 BHK units command an average of ₹2.43 Lakh per month, providing a range of options for different tenant profiles from young professionals to large families.
Which projects in Girgaon command the highest rental rates?
As of June 2026, premium projects such as Unity House Girgaon and Bhagya Laxmi Apartment Giragaon lead the market with rental rates of ₹200 per sq ft. Other notable projects like Purav Heights and Bhagwan Arab Building follow closely, reflecting the high demand for well-maintained, centrally located residential spaces in the Girgaon area.
How do rental rates compare across various neighbourhoods near Girgaon?
Rental rates vary across the vicinity of Girgaon, with areas like Gamdevi, Babulnath, and Kemps Corner commanding a premium at ₹250 per sq ft as of June 2026. Conversely, areas such as Girgaum Chowpatty, Kamathipura, and Dalal Estate offer more competitive rates at ₹150 per sq ft, allowing tenants to choose based on their proximity to specific landmarks and lifestyle preferences.
Which developers have the highest transaction activity in Girgaon?
Raj Developers currently leads the transaction activity in Girgaon with 5 recorded transactions, followed by other active players including Lakadawala Developers, Sanghvi Group, Parth Constructions, and Shagun Construction, each with 1 transaction recorded. This activity highlights the presence of both established and niche developers catering to the local residential demand.
How should a buyer interpret the property status data in Girgaon?
Buyers can use the property status data to gauge market health and supply types. With 148 units currently in the 'Ready To Move' category priced at ₹41,800 per sq ft (which appreciated by 13.99%) and 22 units 'Under Construction' at ₹39,950 per sq ft (up 3.39%), the data indicates a robust supply of both immediate-possession homes and newer, potentially modern developments.
