Mumbai
The Mazgaon real estate market exhibits a dynamic pricing structure with an average asking rate of ₹41,350 per sq ft, supported by a consistent registration rate of ₹23,800 per sq ft. Over the recent quarters, the locality has seen steady price appreciation, while the rental sector remains robust with an average yield of 3.40%. Transaction activity is spread across several established developers, including Prince Aly Khan Hospital and Vibrant Developers, indicating a balanced market with both ready-to-move and under-construction inventories. This blend of high-end apartment pricing and steady rental demand positions Mazgaon as a versatile location for both end-users and long-term investors.
As of June 2026, the average asking price in Mazgaon is ₹41,350 per sq ft. This figure reflects an appreciation of 2.9% compared to previous periods, signaling sustained interest and demand for residential property in this locality.
The average asking price in Mazgaon is ₹41,350 per sq ft, which sits significantly higher than the Government Registration Rate of ₹23,800 per sq ft as of June 2026. This gap between the market-driven asking price and the government-notified rate is a common observation in established Mumbai localities and is a key metric for buyers to consider when evaluating their total investment outlay and stamp duty calculations.
Property rates in Mazgaon have shown a positive trajectory, moving from ₹39,000 per sq ft in December 2025 to ₹41,350 per sq ft by June 2026. This upward movement across the last two quarters indicates a resilient market where demand for residential apartments remains steady, providing a positive signal for long-term investors.
Property rates in Mazgaon vary significantly compared to surrounding areas. As of June 2026, while Mazgaon averages ₹41,350 per sq ft, neighbouring areas like Tardeo command a much higher average of ₹89,400 per sq ft (which appreciated by 20.86% from June 2025 to June 2026), whereas Byculla East is priced lower at ₹32,550 per sq ft, having seen a depreciation of 7.72% over the same period. These variations highlight the premium status of specific pockets within South Mumbai.
Property status plays a distinct role in pricing within Mazgaon as of June 2026. Ready To Move properties are currently priced at ₹35,800 per sq ft, reflecting an appreciation of 9.41% from previous periods, while Under Construction projects are priced at ₹38,600 per sq ft, which has appreciated by 11.07%. This trend suggests that buyers are willing to pay a premium for newer, under-construction inventory, likely due to modern amenities and contemporary building standards.
As of June 2026, the average rental rate in Mazgaon is ₹117 per sq ft, with a rental yield of 3.40%. This yield provides a clear income-generation benchmark for investors, representing the annual rental return relative to the capital investment in a property.
Rental rates in Mazgaon are structured according to unit size, with 1 BHK apartments averaging ₹52,150 per month, 2 BHK apartments at ₹63,350 per month, and 3 BHK apartments reaching ₹1.37 Lakh per month as of June 2026. This tiered pricing allows tenants and investors to align their budgets and expectations with the specific space requirements prevalent in the local market.
Among the top rental projects in Mazgaon as of June 2026, Sarkar Tower leads with a rental rate of ₹160 per sq ft, followed by Infinity Apartments at ₹156 per sq ft and Shreepati Coronet at ₹135 per sq ft. Notably, Atul Wallace Fortuna has seen a significant rental appreciation of 16.81% compared to previous periods, marking it as a high-growth asset for landlords.
Investors should view the Mazgaon property data as a reflection of a mature, high-value market. With an average asking price of ₹41,350 per sq ft as of June 2026 and a rental yield of 3.40%, the locality offers a balance between capital appreciation and recurring rental income. Monitoring the price difference between Ready To Move and Under Construction segments can further help investors identify entry points that align with their risk appetite and liquidity goals.
