Looking to buy in Mumbai? Here’s where you can still get a home for Rs 1 crore
Mumbai's Western Suburbs offer affordable housing options priced Rs 21,058-28,277 PSF, attracting diverse buyers. These areas, including Goregaon, Malad, Kandivali, and Borivali, provide excellent connectivity and amenities.
- Apr 18, 2025,
- Updated Apr 18, 2025 5:16 PM IST
Mumbai's Western Suburbs offer affordable housing options priced Rs 21,058-28,277 PSF, attracting diverse buyers. These areas, including Goregaon, Malad, Kandivali, and Borivali, provide excellent connectivity and amenities, making them ideal for first-time homebuyers and investors.
Mumbai, renowned as India's financial capital, is also known for having one of the priciest real estate markets globally. However, for those looking to invest in property without breaking the bank, certain localities in the city still offer viable options. As of 2025, areas in the Western Suburbs such as Goregaon, Malad, Kandivali, and Borivali present opportunities to purchase a home within a Rs 1 crore budget. These neighbourhoods are priced between Rs 21,058 and Rs 28,277 per square foot (PSF), making them an attractive proposition for homebuyers seeking affordability combined with growth potential, according to the 1 Finance Mumbai Home Price Index.
The Western Suburbs maintain their appeal due to a blend of affordability, connectivity, and amenities. This region hosts multinational corporations, corporate parks, and leisure facilities like the Sanjay Gandhi National Park and popular shopping centres such as Nesco and Inorbit.
The areas are well-connected through the Western Railway and Metro Line 2A, making them a prime hub for both work and leisure.
According to the 1 Finance report, "Borivali, Kandivali, Malad, and Goregaon offer affordable and luxury housing, attracting diverse buyers. In 2024, 33% of Greater Mumbai’s property registrations were from the Western Suburbs, with 58% from these areas. First-time buyers can find 1 BHKs for Rs 1-1.5 crore, making them ideal for affordable housing.”
Over the past five years, property prices in the Western Suburbs have shown a steady rise of 4% per annum, slightly below Greater Mumbai's 5% per annum increase. The current rates stand at Rs 26,814 per square foot in the Western Suburbs, compared to Rs 32,632 per square foot for Greater Mumbai. This minimal difference in growth rates underlines the competitiveness of the Western Suburbs as a real estate market.
The report highlights that from February 2021 to February 2025, Goregaon East saw the most significant price appreciation, followed by Malad East and Borivali West. Kandivali West, as of February 2025, offers the most affordable real estate at 475 square feet per crore.
The focus on residential development in the Western Suburbs is evident, with these areas representing 41% of Greater Mumbai’s 2024 housing launches. "The Western Suburbs of Mumbai continue to be a focal point for residential development, representing 41% of Greater Mumbai’s 2024 launches, with Borivali, Kandivali, Malad, and Goregaon accounting for 72% of this activity. The operational Metro Lines 2A and 7, alongside thriving corporate parks and retail hubs, continue to drive steady price growth," remarked Animesh Hardia, Senior Vice President of Quantitative Research at 1 Finance.
Over the past decade, Kandivali East and Borivali West have led in annual price appreciation, growing at 6% and 5% CAGR, respectively.
Despite rising prices, supply remains healthy, with the Western Suburbs contributing to 41% of Mumbai’s residential launches in 2024. However, prospective buyers should be aware that the current property supply is projected to take approximately four years to be absorbed at the current sales rates, which reflects broader market challenges in Greater Mumbai.
Mumbai's Western Suburbs offer affordable housing options priced Rs 21,058-28,277 PSF, attracting diverse buyers. These areas, including Goregaon, Malad, Kandivali, and Borivali, provide excellent connectivity and amenities, making them ideal for first-time homebuyers and investors.
Mumbai, renowned as India's financial capital, is also known for having one of the priciest real estate markets globally. However, for those looking to invest in property without breaking the bank, certain localities in the city still offer viable options. As of 2025, areas in the Western Suburbs such as Goregaon, Malad, Kandivali, and Borivali present opportunities to purchase a home within a Rs 1 crore budget. These neighbourhoods are priced between Rs 21,058 and Rs 28,277 per square foot (PSF), making them an attractive proposition for homebuyers seeking affordability combined with growth potential, according to the 1 Finance Mumbai Home Price Index.
The Western Suburbs maintain their appeal due to a blend of affordability, connectivity, and amenities. This region hosts multinational corporations, corporate parks, and leisure facilities like the Sanjay Gandhi National Park and popular shopping centres such as Nesco and Inorbit.
The areas are well-connected through the Western Railway and Metro Line 2A, making them a prime hub for both work and leisure.
According to the 1 Finance report, "Borivali, Kandivali, Malad, and Goregaon offer affordable and luxury housing, attracting diverse buyers. In 2024, 33% of Greater Mumbai’s property registrations were from the Western Suburbs, with 58% from these areas. First-time buyers can find 1 BHKs for Rs 1-1.5 crore, making them ideal for affordable housing.”
Over the past five years, property prices in the Western Suburbs have shown a steady rise of 4% per annum, slightly below Greater Mumbai's 5% per annum increase. The current rates stand at Rs 26,814 per square foot in the Western Suburbs, compared to Rs 32,632 per square foot for Greater Mumbai. This minimal difference in growth rates underlines the competitiveness of the Western Suburbs as a real estate market.
The report highlights that from February 2021 to February 2025, Goregaon East saw the most significant price appreciation, followed by Malad East and Borivali West. Kandivali West, as of February 2025, offers the most affordable real estate at 475 square feet per crore.
The focus on residential development in the Western Suburbs is evident, with these areas representing 41% of Greater Mumbai’s 2024 housing launches. "The Western Suburbs of Mumbai continue to be a focal point for residential development, representing 41% of Greater Mumbai’s 2024 launches, with Borivali, Kandivali, Malad, and Goregaon accounting for 72% of this activity. The operational Metro Lines 2A and 7, alongside thriving corporate parks and retail hubs, continue to drive steady price growth," remarked Animesh Hardia, Senior Vice President of Quantitative Research at 1 Finance.
Over the past decade, Kandivali East and Borivali West have led in annual price appreciation, growing at 6% and 5% CAGR, respectively.
Despite rising prices, supply remains healthy, with the Western Suburbs contributing to 41% of Mumbai’s residential launches in 2024. However, prospective buyers should be aware that the current property supply is projected to take approximately four years to be absorbed at the current sales rates, which reflects broader market challenges in Greater Mumbai.