Mumbai Rents Surge 14.3 per cent Y-o-Y Amidst Tight Supply

07 Mar 2025 CW Team

The report also observed that in Q4’ 2024 (October-December 2024), the average rent for furnished homes increased to Rs 96.23 per sq. ft. per month, from Rs 85.99 per sq. ft. per month in Q4’ 2023. The rent for unfurnished homes also increased to Rs 78.26 per sq. ft. per month from Rs 66.28 per sq. ft. per month a year ago.

Further, the report elaborated that most tenants (44 per cent ) are searching for homes within a budget of Rs 50,000- 1,00,000 per month and for units within 500-1000 sq ft configurations (46 per cent of searches on Magicbricks platform).

Premium rental hubs such as Worli saw asking rents averaging Rs 1,73,100 per month for a 2BHK and Rs 3,06,200 per month for a 3BHK configuration. Andheri West remained one of the most sought-after rental destinations, with 2BHK rents at Rs 81,100 per month, while Powai continued to attract professionals, commanding Rs 77,000 per month for a 2BHK unit. However, relatively affordable rental options can still be found in areas within the Mumbai Metropolitan Region, such as Mira Road, where 2BHK asking rents stand at Rs 29,700 per month, and Malad West, where 2BHK units rent for Rs 61,500 per month.

Andheri West, Powai, and Worli emerged as the most in-demand localities for rental homes, while Chembur and Andheri East remain strong contenders due to affordability and accessibility. According to the platform, the average rent being asked by landlords for a 2BHK home in Andheri West is Rs 81,100 per month, while in Andheri East, it is Rs 67,000 per month. In Powai, 2BHK units are available for an average Rs 77,000per month, while in Chembur, the rent averages Rs 69,800 per month, shared the report.

The city’s rental market continues to thrive, driven by increasing migration and employment opportunities. With strong rental yields and rising demand, Mumbai offers a dynamic mix of rental homes catering to different budgets and lifestyle preferences."

Mumbai sees increasing rents once again, with average rents increasing 14.3 per cent in 2024, to reach Rs 89.31 psf per month, amidst increasing demand and tightening rental supply in the city, observed Magicbricks’ latest Rental Update. Hence, the average monthly rent for a 2 BHK apartment in the city is approx. INR 80,500, while the corresponding figure for 3 BHKs goes up to approx. Rs 1,33,300 per month.The report also observed that in Q4’ 2024 (October-December 2024), the average rent for furnished homes increased to Rs 96.23 per sq. ft. per month, from Rs 85.99 per sq. ft. per month in Q4’ 2023. The rent for unfurnished homes also increased to Rs 78.26 per sq. ft. per month from Rs 66.28 per sq. ft. per month a year ago. Further, the report elaborated that most tenants (44 per cent ) are searching for homes within a budget of Rs 50,000- 1,00,000 per month and for units within 500-1000 sq ft configurations (46 per cent of searches on Magicbricks platform). Premium rental hubs such as Worli saw asking rents averaging Rs 1,73,100 per month for a 2BHK and Rs 3,06,200 per month for a 3BHK configuration. Andheri West remained one of the most sought-after rental destinations, with 2BHK rents at Rs 81,100 per month, while Powai continued to attract professionals, commanding Rs 77,000 per month for a 2BHK unit. However, relatively affordable rental options can still be found in areas within the Mumbai Metropolitan Region, such as Mira Road, where 2BHK asking rents stand at Rs 29,700 per month, and Malad West, where 2BHK units rent for Rs 61,500 per month. Andheri West, Powai, and Worli emerged as the most in-demand localities for rental homes, while Chembur and Andheri East remain strong contenders due to affordability and accessibility. According to the platform, the average rent being asked by landlords for a 2BHK home in Andheri West is Rs 81,100 per month, while in Andheri East, it is Rs 67,000 per month. In Powai, 2BHK units are available for an average Rs 77,000per month, while in Chembur, the rent averages Rs 69,800 per month, shared the report. The city’s rental market continues to thrive, driven by increasing migration and employment opportunities. With strong rental yields and rising demand, Mumbai offers a dynamic mix of rental homes catering to different budgets and lifestyle preferences.

Infrastructure Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Infrastructure Urban

02 Jun 2026

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Infrastructure Transport

02 Jun 2026

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..