Property prices for rent in Mumbai (Maharashtra)
The rent prices in real estate in Mumbai, in the Maharashtra region have slightly risen in the last couple of months. There has been a rise in the rent prices in this city.
The price per sq.foot in Mumbai has risen during the last 6 months. In October, the average price per sq.foot was ₹ 88.24. In November this price barely changed remaining at ₹ 85.27 per sq.foot. In the following two months the price per sq.foot has risen 109 %, going from ₹ 86.75 to ₹ 94.61 per sq.foot. The price per sq.foot has risen 106 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.foot of ₹ 90.68 to ₹ 95.96 during February, and March.
When referring to the price in Mumbai (cities), there have hardly been any changes in the last 6 months. The average price for October is ₹ 70,338. During November the price had a slight fall till ₹ 63,300. During the following two months (December, January) the price has had an average rise from ₹ 66,819 to ₹ 74,156.5. During the last two months, the average price has barely gone through any changes with regard to the previous average values going from an average value of ₹ 70,487.75 and ₹ 73,512.5 between February and March.
The graph displaying the average rent price for BHK illustrates that those properties with 1 BHK are the most affordable ones. At a price of ₹ 74,900 they are 46 % more affordable than the average price for Mumbai . The properties with the highest average price have 4 BHK, Their price is 223 % more expensive than the average. After that we have properties with 3 BHK priced at ₹ 1.12 lakhs.
With regard to the average price per sq.foot, those properties with 1 BHK are the most affordable ones at a cost of ₹ 92.95 / sq.foot, with an average ₹ 98.01 / sq.foot price in Mumbai. The properties with the most expensive average prices have 4 BHK. They are 21 % more expensive than the average followed by properties with 3 BHK with a price at ₹ 98.51 / sq.foot.
The graph displaying the average rent prices displays the property type "Commercial" as the most affordable one. At an cost of ₹ 74,900 it is 84 % more affordable than the average price in Mumbai. "Flat" is seen as the second most affordable property type. The most expensive property type is "Land" followed by "Office". At a price of ₹ 1.9 lakhs it is 474 % more expensive than the average price.
According to the average cost per sq.foot, the most affordable property is "Commercial" at an average price of ₹ 35.2 / sq.foot followed by "Villa" priced at ₹ 52.42 / sq.foot. "Land" is the most expensive type of property with a ₹ 9,956 / sq.foot value followed by "Office" with an average price of ₹ 142.01 / sq.foot.
