Amid redevelopment, rents on the rise in western Mumbai

16 Nov 2022 CW Team

As a number of old buildings are undergoing redevelopment in Mumbai, micro-markets in the city’s western suburbs have seen up to 15% increase in rentals.

At a rough estimate, around 3,000 projects are under construction in Mumbai, about 60% percent which are redevelopment projects. “Going by this, it is obvious that rental demand has increased, which has also resulted in monthly rentals increasing by 10-15%,” said Ajay Chaturvedi, chief executive of Mumbai-based firm Real Estate Study Circle.

Ritesh Mehta, senior director and head, west & north, Residential Services & Developer Initiatives, JLL, said, “Rents increase annually by about 5% in Mumbai. However, in the recent past, rentals have increased by up to 15% in some areas. This is due to two reasons. One is, post Covid, as people started coming back to the city, rents increased. The other reason is redevelopment. Areas between Juhu-Bandra and Borivali-Kandivali are seeing a lot of re-development, due to which rentals have increased in these micro-markets.”

Ravi Kewalramani, director, RK Mumbai Realtors, said rentals have increased between 10-20% across Mumbai. “In luxury markets like Juhu and Bandra, I had rented out a 2BHK at Rs 77,000 two or three years back. Now the same property is being listed at Rs 95,000," he said.

Kewalramani said 3BHK and 4BHK luxury apartments are being rented out for Rs 3-5 lakh. Demand is such that hardly any units are left in the market.

Infrastructure Transport

07 Apr 2026

Tunnelling Begins for Thane, Borivali twin tunnel project

Tunnelling work has commenced for the 11.84-km Thane–Borivali Twin Tunnel, set to be India’s longest urban road tunnel, marking a key milestone in Mumbai’s infrastructure development.As per a post shared by Mumbai Metropolitan Region Development Authority on social media platform X, the tunnel boring machine (TBM) ‘Nayak’—the country’s largest single-shield hard rock TBM for an urban tunnel—was launched by Devendra Fadnavis on Tuesday. The event was attended by Eknath Shinde and Sunetra Pawar, among other dignitaries. A second TBM, ‘Arjuna’, is expected to be launched so..

Large Format Store Planned At M G Road Metro Station

M G Road station in Bengaluru is set to host the city’s first large-format commercial and experience space, with planning led by Bangalore Metro Rail Corporation Limited. BMRCL has invited proposals to develop and operate a central business district destination at the Purple?Pink Line interchange. The plan positions the station as a commercial hub designed to serve a broad commuter base across the city. The proposal is part of a broader effort to activate transit nodes commercially. Tender documents set a minimum monthly rental of Rs 0.944 million (mn), inclusive of GST, for the large-format..

Government Cancels Auction Of Eleven Critical Mineral Blocks

The government has cancelled the auction of 11 critical and strategic mineral blocks after receiving a poor investor response and failing to attract a sufficient number of qualified bidders. The decision represents a setback to plans to ramp up domestic exploration and production of critical minerals amid global supply chain disruptions and rising demand for materials used in clean energy and advanced technologies. The mines ministry issued an annulment notice setting out the reasons for the cancellations. The annulment notice indicated that the auction process for five mineral blocks was canc..