Two markets that share a name
Central Mumbai (Bandra, Juhu, Worli, Colaba) is one of the world's most expensive residential markets by price-to-income ratio. You buy here because you need to be here — not because the investment case works. The MMR fringe — Thane, Navi Mumbai, Kalyan-Dombivli — has genuine investment logic with different risk-return dynamics.
Island City + prime suburbs: only if you can afford it and plan to live there — yields of 1.5–2.5% make no investment sense. Thane / Navi Mumbai: strong 7+ year case. Kalyan / Dombivli / Vasai: only for very long (15+ year) affordable housing horizon.
Stamp duty — Maharashtra
| Charge | Male | Female | On ₹1 Cr (male) |
|---|---|---|---|
| Stamp duty | 5% | 4% | ₹5,00,000 |
| Registration + metro surcharge | 2% | 2% | ₹2,00,000 |
| TDS (if ≥ ₹50L) | 1% | 1% | ₹1,00,000 |
| Total | ₹8L (8%) |
Zone price map — 2026
| Zone | Key markets | Price/sqft | Yield | PropIQ verdict |
|---|---|---|---|---|
| South Mumbai / CBD | Nariman Point, Colaba, Marine Drive | ₹45,000–₹70,000 | 1.2–1.8% | Lifestyle only. Not an investment. |
| Bandra–Worli | Bandra W, Khar, Santacruz, Worli | ₹28,000–₹50,000 | 1.5–2.2% | Yield near zero. Buy to live. |
| Powai / Hiranandani | Powai, Chandivali, Vikhroli | ₹20,000–₹32,000 | 2.2–3.0% | Better value. Township quality strong. |
| Thane | Ghodbunder Road, Majiwada, Manpada | ₹9,500–₹16,000 | 3.5–4.5% | PropIQ top pick — metro + Lodha scale |
| Navi Mumbai | Kharghar, Panvel, Belapur, Airoli | ₹8,500–₹14,500 | 3.8–4.8% | Airport project approaching. Strong 7+ yr. |
| Kalyan–Dombivli | Kalyan E/W, Dombivli | ₹5,500–₹9,500 | 4.2–5.5% | Affordable. 15+ year horizon required. |
The Navi Mumbai International Airport (NMIA) is expected to see first flights by late 2026. Pre-airport Panvel, Ulwe, and Dronagiri are already seeing speculative interest. PropIQ recommends verified established builders only in this zone (Godrej, Hiranandani, Sunteck) — avoid small developers in outer nodes.