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Most of the posh localities in Mumbai are located close to the sea or offer a view of the water body. Bollywood celebrities, businessmen and start-up entrepreneurs, own or rent homes in these posh areas, which make these localities exclusive and popular among Mumbaikars. While there was a time when localities in the south Mumbai were classified as posh, these days, even suburban areas of Juhu and Bandra are counted as some of the most high-profile areas in Mumbai, owing to some of the high-end projects coming up here and the rising interest of the crème de la crème of society. Check out the latest list of posh areas in Mumbai.
Read also: What is the cost of living in Mumbai?
1. Malabar Hill
Average property prices in Malabar Hill: Rs 51,480 per sq ft
Malabar Hill is not just Mumbai’s but India’s most exclusive residential address, where most of the residents are billionaires and millionaires. Apart from luxurious condos and penthouses, the hillock area also has few marquee properties priced at Rs 300 crores and above. Malabar Hill is located on the southern-most tip of Mumbai, which gives it a three-side view of the Arabian Sea. The area is also famous for Hanging Gardens, a hillside park which has hedges sculpted into animal figures.
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2. Cuffe Parade
Average property prices in Cuffe Parade: Rs48, 750 per sq ft
Cuffe Parade is a part of the Central Business District of Mumbai, located in the southern tip of Mumbai, next to Nariman Point. The area was developed, by reclaiming 75,000 sq metres of land on the western shore of Colaba and is now dotted with residential and commercial skyscrapers, where property prices have touched at exorbitant levels. With a number of five-star hotels in its proximity, the area lies close to the cantonment area, which has restricted the height of high-rises in Cuffe Parade, therefore, losing out on some popularity to Worli and Prabhadevi.
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Average price: Rs 47,786 per sq ft
Also home to India’s richest man, Mukesh Ambani, Altamount Road in Tardeo is an important arterial road in south Mumbai that connects important commercial areas in the region. Tardeo has a number of commercial complexes, including educational and healthcare institutes, apart from Ambani’s residence, Antilla, which is India’s most expensive private home. The area has only a few residential options, which makes it one of the most expensive areas to live in Mumbai.
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Average property prices in Juhu: Rs 44,442 per sq ft
Juhu is located in the western suburbs and is counted amongst the most expensive pin codes in Mumbai’s suburbs. Celebrities such as Amitabh Bachchan, Sachin Tendulkar and Akshay Kumar own villa properties here, which is otherwise an unusual property type in a city like Mumbai. The location has a handful of marquee real estate assets and a number of low-rise buildings, offering independent builder floor options. Recently, Hrithik Roshan too bought two majestic apartments on the Juhu-Versova Link Road. As per reports, these apartments are spread over an area of 38,000 sq ft and have a sky terrace of around 6,500 sq ft. The star has paid around Rs 67.5 crores for the approximately 27,000-sq ft duplex and Rs 30 crores for the other flat with an area of 11,165 sq ft. One of these flats is a duplex penthouse and the other one is a single-storey home. There are a number of designer boutiques and outlets in Juhu, which are frequented by the affluent sections of society. The area is also famous for the Juhu Chowpatty, where street food vendors put up their stalls in the evening.
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5. Bandra west
Average property prices in Bandra west: Rs 42,691 per sq ft
This is another upmarket locality in the western suburbs of Mumbai, known for housing Shahrukh Khan’s Mannat and Salman Khan’s Galaxy Apartment. Bandra west has a number of entertainment options, including restaurants, nightclubs and discotheques, which makes it one of the popular areas for college students. The coffee shops are usually filled with aspiring actors and casting directors and it is easy to spot television actors in the area. The area has a number of high-rise buildings, old and new, offering 1BHK and 2BHK apartments at an exorbitant rate.
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Average property prices in Worli: Rs 37,013 per sq ft
Most of the celebrities staying in high-rise buildings probably live in Worli, where a number of high-end housing societies have come up. Celebrities such as Anushka Sharma-Virat Kohli, Deepika Padukone, Abhishek Bachchan and many others, have bought properties here for self-use. High-rises in Worli offer picturesque views of the Bandra-Worli Sea Link, the Arabian Sea and the Race Course. There are a number of commercial establishments in the area, including shopping malls, restaurants, night clubs, etc., which makes it one of the popular hangout regions for office-goers working in the island city.
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Price trends in the costliest areas of Mumbai
|Area||Average property prices (per sq ft)||Average rent per month|
|Malabar Hill||Rs 51,480||Rs 4.5 lakhs|
|Cuffe Parade||Rs 48,750||Rs 3 lakhs|
|Tardeo||Rs 47,786||Rs 2.5 lakhs|
|Juhu||Rs 44,442||Rs 1.75 lakhs|
|Bandra west||Rs 42,691||Rs 95,000|
|Worli||Rs 37,013||Rs 80,000|
Recent luxury home deals in Mumbai
Mumbai is a land of millionaires where luxury home purchase deals are very common. Here are some of the recent luxury home purchase deals that made headlines:
HDFC chairman’s family buys Rs 50-crore sea-view apartment in Worli
Housing Development Finance Corporation (HDFC) chairman Deepak Parekh’s family recently purchased a sea-view apartment spread over 7,450 sq ft in K Raheja Corp’s super-premium project, Raheja Artesia, in the plush Worli locality, for Rs 50 crores. The family will get access to six car parks along with the apartment, which includes a 6,770 sq ft carpet area and balcony area of 273 sq ft.
D-Mart’s Radhakishan Damani buys Malabar Hill property for Rs 1,001 crores
Recently, Radhakishan Damani, billionaire investor and founder of D-Mart bought a bungalow in south Mumbai’s plush Malabar Hill locality for Rs 1,001 crores. The property is a ground-plus-two-storey bungalow named Madhukunj, located on the leafy Narayan Dabholkar Marg. The house is spread over a 1.5-acre land parcel and has a total built-up area of around 60,000 sq ft. The market price based on the ready reckoner rate is around Rs 724 crores.
Sunny Leone buys Rs 16-crore apartment in Andheri suburb
Bollywood actress Sunny Leone recently bought a 4,365 sq ft apartment in Mumbai’s Andheri suburb, for Rs 16 crores. The transaction attracted stamp duty of Rs 48 lakhs. The apartment is on the 12th floor in the project, Atlantis. The actress will also have access to three mechanised car parks.
Is Andheri a posh area?
Andheri is a semi-posh area where property prices are high due to demand but property options are very modest in terms of sizes.
Where do rich live in Mumbai?
Malabar Hill, Juhu, Bandra West, Bandra Kurla Complex are the havens for the rich people in Mumbai.
Is Colaba a posh area?
Colaba is one of the cleanest areas in Mumbai which lies next to Gateway of India, Nariman Point and Cuffe Parade and is one of the posh areas in Mumbai.
Which is the most expensive area in Mumbai?
According to Housing.com data, Malabar Hills is the most expensive area in Mumbai.