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 Transport

06 Feb 2026

Lucknow Metro East-West Corridor Consultancy Contract Awarded

The Uttar Pradesh Metro Rail Corporation has awarded the first construction-related consultancy contract for the Lucknow Metro East West Corridor to a joint venture of AYESA Ingenieria Arquitectura SAU and AYESA India Pvt Ltd. The firm was declared the lowest bidder for the Detailed Design Consultant contract for Lucknow Metro Line-2 under Phase 1B and the contract was recommended following the financial bid. The contract is valued at Rs 159.0 million (mn), covering design services for the corridor. Lucknow Metro Line-2 envisages the construction of an 11.165 kilometre corridor connecting Cha..

Infrastructure Urban

06 Feb 2026

Div Com Kashmir Urges Fast Tracking Of Jhelum Water Transport Project

The Divisional Commissioner of Kashmir has called for the fast-tracking of the Jhelum water transport project, urging district administrations and relevant agencies to accelerate planning and clearances. In a meeting convened at the divisional headquarters, the commissioner instructed officials from irrigation, public health engineering and municipal departments to prioritise the project and coordinate survey and design work. The directive emphasised removal of administrative bottlenecks and close monitoring to ensure timely mobilisation of resources and contractors. Officials were told to in..

Infrastructure Urban

06 Feb 2026

Interarch Reports Strong Q3 And Nine Month Results

Interarch Building Solutions Limited reported unaudited results for the third quarter and nine months ended 31 December 2025, recording strong revenue growth driven by execution and a robust order book. Net revenue for the third quarter rose by 43.7 per cent to Rs 5.225 billion (bn), compared with Rs 3.636 bn a year earlier, reflecting heightened demand in pre-engineered building projects. The company’s total order book as at 31 January 2026 stood at Rs 16.85 bn, supporting near-term visibility. EBITDA excluding other income for the quarter increased by 43.2 per cent to Rs 503 million (mn),..