The real estate market of Mumbai has reported over 1.41 lakh property registrations in 2024, with steady growth expected in 2025. Western and central suburbs continue to be the go-to locations for homebuyers, as per Knight Frank India’s property data. Beyond Mumbai, nearby satellite cities and towns are also gaining popularity among buyers looking for their dream homes. Check out these locations to buy an apartment in the Mumbai Metropolitan Region in 2025.
Western Mumbai - The Popular Choice
In December 2025, the western suburbs held a 53% share of property registrations. Knight Frank India’s data reveals that over half of the 12,000+ properties registered that month were located in the western suburbs.
Real estate experts point out that Borivali, Kandivali, Malad, Goregaon, and Dahisar are some of the main areas driving property registrations in Mumbai's western suburbs. A first-time homebuyer can typically purchase a 1 BHK apartment in Mumbai’s western region for around ₹1 crore to ₹1.50 crore.
Central Suburbs - Preferred Choice of First-time Homebuyers
Central suburbs such as Mulund, Bhandup, Vikhroli, Kanjurmarg, and Ghatkopar are increasingly favored by first-time buyers. Knight Frank India reports that 33% of all property registrations in Mumbai in December 2024 were from these areas.
Residential properties in the western and central suburbs of Mumbai are priced between ₹20,000 and ₹50,000 per sq ft. Local brokers mention that the rent for a 2 BHK apartment typically falls between ₹35,000 and ₹70,000 per month.
Thane - The Premium Satellite City
Thane has become one of the premium locations for residential choice in MMR and is also known as a satellite city of Mumbai. Now several premium projects in Thane are being constructed by some of the top developers in the country. The price range of these premium properties in Thane is higher than that of suburban Mumbai. This is one of the major reasons for homebuyers to consider buying a home in Thane. Thane is equipped with infrastructural development, metro connectivity, easy access to highways, and everything that is required. Thane is the ideal choice for homebuyers looking to buy a decent compact 2 BHK apartment under ₹1 crore bracket.
Experts in real estate say that property prices in Thane have gone up, with premium projects costing between ₹1,000 and ₹25,000 per sq ft in 2025. The average price in Thane, however, tends to be between ₹15,000 and ₹17,000 per sq ft.
Navi Mumbai - Growing Infrastructural Development
The Navi Mumbai real estate market has seen a price appreciation in residential projects in several areas, including Ulwe, Dronagiri, and New Panvel. The prices of property in Navi Mumbai have increased due to infrastructural projects like Atal Setu, which connects Navi Mumbai and South Mumbai, and the upcoming project, Navi Mumbai International Airport (NMIA). The Navi Mumbai airport is expected to become operational by the 2025 monsoon, and a trial landing is being conducted before opening it to the public. Property consultants say areas like Ulwe, Dronagiri, Panvel, and Kharghar are seeing maximum demand when purchasing apartments.
Local brokers say the per square foot price in Navi Mumbai is between ₹10,000 - ₹20,000 per sq ft, with rents for a 2 BHK apartment varying between ₹20,000 and ₹50,000.
Vasai Virar - Affordable and Promising Suburb
With the Mumbai-Ahmedabad bullet train, new Metro lines, and the coastal road all in the works, the Vasai and Virar area is set to experience better connectivity. This is expected to drive up demand for residential properties in 2025.
"Currently, there is limited connectivity to Mumbai and the other parts of it from the Vasai and Virar area. The major connectivity is through the local trains. However,
with the Metro rail and coastal road projects set to open up new areas, developers and investors are optimistic about future returns. Vasai or Virar should be the ideal choice for real estate investors within the next two years to avoid paying more and earn higher ROI in the future." shared Anand Thakur, a real estate consultant from Virar, in a recent HT.com article.
Local brokers say the per square foot price in the Vasai and Virar belt is around ₹10,000, with rents for a 2 BHK apartment varying between ₹10,000 and ₹20,000.