What can you buy for Rs 1 crore in Mumbai?

Mumbai is one of the most expensive real estate markets in the world. The thing about Mumbai is it accommodates everyone and that’s why it is also one of the most sought-after cities in the country. According to reports, the city has a population of around 1.25 crore people. People of all ranks and categories come here for job from other cities and countries and gradually settle here. Real estate in the city, is at most times, in demand across various categories- super luxury, premium, mid-level and affordable housing. If you have a budget of Rs 1 crore and want to buy a house in Mumbai, we highlight some of the areas that may suit your needs. Read on. 

Overview of the housing market in Mumbai 

According to the Housing.com report, the Housing Price Index (HPI) reading for the Mumbai Metropolitan Region (MMR) rose 14 points YOY in June 2025, reflecting modest growth under the backdrop of an already high price base. Affordability challenges kept many home-buyers in the entry-level segment and thus, smaller homes like 1 BHK remained in demand, recording the highest HPI reading of 132. 

See also: All about SRA flats in Mumbai

This demand for houses in Mumbai are mostly from young working professionals in the city who have just started their careers and want to buy a property for self-use or investment purposes, double-income-no-kids (DINK) couple and investors. 

Infrastructure projects supported in Mumbai city

The Mumbai that you saw even five years back is very different from the one that you see today, with special attention to connectivity that ensures the city’s peripheral locations are connected to most other parts of the city. Travel time from any peripheral location to another — that once took more than two hours — is now reduced to less than 55 minutes or just over an hour. 

• The city has seen the construction and operations of many flyovers especially in the western suburbs that help in decongesting the traffic- for example a 180-m signal free connector between the MTNL junction and the Bandra Kurla Complex (BKC)–Chunabhati connector.
• The Santacruz-Chembur Link Road (SCLR) extension that connects the Eastern Expressway Highway and the Western Expressway Highway — Mumbai University’s Gate 2 to the Panbai International School flyover. This flyover has no signals and cuts short the travel time between Chembur and Vile Parle by up to an hour. 
• The Ghatkopar Mankhurd Link Road that decongested the traffic and ensured travel time between the two locations in less than 15 minutes. 

Additionally, Mumbai started with operations on the Mumbai Coastal Road, the Mumbai Trans harbour Link Road, some lines of the Mumbai Metro Lines and Mumbai Water Taxi (is presently shut but will be revived soon.)

What can a home buyer get for Rs 1 crore in Western suburbs? 

People who want to buy a property with a budget of Rs 1 crore usually choose a small, useful space instead of a luxurious one. “In the western suburbs, Rs 1 crore can buy a 1 BHK or a relatively small 2 BHK of 450–550 sqft in places like Dahisar, Mira Road or the outskirts of Kandivali. At this price purchasers frequently have to give up on size or location to stay inside their budget,” says Ankita Luharuka – CEO and co-founder of Alliance City Developers. However, these locations are rapidly improving in connectivity through new highways and enhanced public transport, making daily commutes to work smoother and more convenient. “The majority of people in this group are practical purchasers who care more about low prices and easy availability than luxury,”added Luharuka. 

See also: Top 10 residential areas in Mumbai’s western suburbs

What can a home buyer get for Rs 1 crore in Central suburbs? 

According to Luharuka, in the central suburbs, this budget usually gets you a 1 BHK flat with a carpet area of 350 to 450 sqft in places like the outskirts of Bhandup, Mulund, or some parts of Chembur. These homes are ideal for first-time buyers and young families who value convenience and connectivity over large spaces.

What is better for an Rs 1 crore budget: Ready-to-move or under construction?

For people who are on a tight Rs 1 crore budget, ready-to-move properties may be available in old buildings, smaller in size and in mostly stand-alone buildings with no or little amenities, mention industry experts. On the other hand, under-construction properties may be new, better layout plans and may include amenities. “Ready homes at Rs 1 crore are usually older or farther out, while under-construction projects offer more space but carry some delivery risk,” says Vivek Rathi, national director – research, Knight Frank India. Note that when opting for an under-construction property, choose a reliable developer who has a sound track record in terms of quality and handing over of the property.

Planning finances for buying Rs 1 crore property in Mumbai

When buying a property, it is really important to plan your finances. Home loan eligibility depends on various factors such as income, credit profile, and existing liabilities. “For a home priced at Rs 1 crore, with a 25% down payment, a borrower would typically need a loan of around Rs 75 lakh. For salaried individuals earning a combined income between Rs 1.5 lakh and Rs 2 lakh per month, eligibility generally aligns with this range depending on their credit score and financial profile. The EMI for an Rs 80 lakh loan over a 20-year tenure can approximately range between Rs 68,000 and Rs 69,000 per month (approximate indicative figures),” mentions Mehernosh Tata, MD & CEO, Godrej Housing Finance – a subsidiary of Godrej Capital. Affordable housing finance through Godrej Capital is available across Mumbai. In the Western Suburbs, the company services locations such as Virar, Mira Road, and Boisar, which are witnessing growing residential demand. In the Central Suburbs, areas like Badlapur and Ambernath are emerging as preferred choices for homebuyers.

Housing.com News POV

Mumbai and its peripheries have a lot of options when one is looking at buying a property for Rs 1 crore in Mumbai. In addition to the budget, the other options that people generally look for while buying a property include location, configuration, connectivity etc. But remember these are some areas in which you may have to compromise when you have a fixed budget of Rs 1 crore. Also, while buying a property for around Rs 1 crore, remember that one will have to pay stamp duty, registration fees etc., mandatorily, which are over and above the cost of the property and are also a significant part of the overall cost. There will be additional costs such as lawyer fees, documentation fees, mutation fees etc., which one has to pay. In addition to the EMI, one also has to pay property tax for the property annually and society maintenance charges. It is a good idea to consider all these extra costs and weigh if it is sustainable while buying a property in Mumbai.