Often called the City of Dreams, Mumbai presents a golden opportunity to nurture your aspirations! With a plethora of career opportunities and growing infrastructure, the residential areas in Mumbai are booming. According to Knight Frank, the municipal region went up by 12% in June, indicating a strong demand for the housing market. Plus, the Mumbai neighbourhoods are covered with schools, clubs, and parks as well as CCTV cameras and night patrolling. More than buying a house in Mumbai, the investment potential is immense in the city! Mumbai has a range of affordable, mid-range, and luxury localities that cater to families and bachelors alike. So, here we give a rundown of the best residential areas in Mumbai for renting or buying. Let’s take a look below!
List of the Best Places to Live in Mumbai
While Mulund and Ghatkopar are two established residential zones in Mumbai with affordable houses, Andheri and Goregaon remain the two most desirable places to live. Owing to the social infrastructure and commercial areas, these areas are popular among tenants. The average residential price per square foot is Rs. 18,500; however, the posh areas in Mumbai such as Bandra or South Mumbai see an average rate of up to Rs. 80,000 per square foot. Worli has seen 37% of total luxury sales value, and Goregaon East has noticed a staggering 1,444% increase in luxury home sales value. So, without further ado, here are the top residential areas in Mumbai you should consider.
1. Worli
Average Rate: Rs. 61,600 per sqft
Monthly Average Rent for a 2BHK: Rs. 80,000
One of the posh areas in Mumbai, Worli is located at the entrance of Rajiv Gandhi Sealink and is connected to Bandra and nearby suburbs. The neighbourhood shares close proximity with Lower Parel, making it one of the desirable places to live in Mumbai. Till the early 80s, the area has garnered much fame for mills and industrial complexes.
Currently, it has surfaced as a commercial hub with many business parks like Peninsula Business Park, Indiabulls Finance Centre, and Lodha Excellus. Moreover, Worli has turned into one of the happening localities in Mumbai with upscale lounges, cafes, and gaming zones. Palladium Mall, Highstreet Phoenix Mall, and Kamala Mills Compound are also in the area, ensuring a coveted lifestyle.
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2. Powai
Average Rate: Rs. 23,775 per sqft
Monthly Average Rent for a 2BHK: Rs. 65,000
Often known as the Silicon Valley of Mumbai, Powai is home to multiple commercial hubs like Hiranandani Knowledge Park and Kensington SEZ. Beyond this, the beauty of Powai Lake and the educational institutions add character to the area. You can easily walk to your work, thanks to the plethora of residential options to buy and rent.
IIT Bombay is situated in the area along with many startups. It is one of the nice places to live in Mumbai as top-tier hospitals like Hiranandani Hospital, Millat Hospital, IIT Bombay Hospital, and Powai Hospital are located in the area. With the upcoming metro line 5 and the Western Line of the Mumbai Suburban Railway in the locality, Powai is a desirable area to live in Central Mumbai.
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3. Thane
Average Rate: Rs. 16,861 per sqft
Monthly Average Rent for a 2BHK: Rs. 60,000
Thane has emerged as a sought-after residential area in Mumbai, offering a perfect blend of tranquillity and connectivity. Its strategic location, coupled with excellent infrastructure and a range of amenities, makes it an ideal choice for homebuyers. The well-connected roads, efficient public transport, and proximity to major employment hubs like the IT parks in Airoli and Navi Mumbai ensure smooth commutes.
Thane boasts a wide range of educational institutions, including reputed schools like DAV Public School and St. John’s School, and renowned hospitals like Jupiter Hospital and Fortis Hospital. Its growing commercial landscape, with business parks like Majiwada Business Park and Kolshet Road Business District, offers ample job opportunities. The presence of shopping malls like Viviana Mall and Korum Mall, along with a variety of dining and entertainment options, further enhances the quality of life in Thane.
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4. Breach Candy
Average Rate: Rs. 78,998 per sqft
Monthly Average Rent for a 2BHK: Rs. 1.4 lac
Known as one of the most expensive residential areas in Mumbai, Breach Candy is the financial district. The area has garnered much fame for its Breach Candy Club, which is the only saltwater pool in the city. With its seafront location and upscale amenities, it is one of the desirable localities in South Mumbai. The area boasts proximity to iconic landmarks like the iconic Breach Candy Hospital, renowned for its exceptional healthcare services.
The neighbourhood’s serene ambience is further enhanced by lush green spaces like the Amarson and Tata gardens, perfect for strolls and picnics. For shopaholics, Breach Candy offers a plethora of high-end boutiques and shopping malls, including the renowned Palladium Mall and the trendy stores on Pedder Road.
5. Altamount Road
Average Rate: Rs. 58,100 per sqft
Monthly Average Rent for a 2BHK: Rs. 2.4 lac
Connected to Nariman Point, Bandra Kurla Complex, and Nariman Point, Altamount Road is dotted with luxury apartments. More importantly, the area houses Mr Mukesh Ambani’s Antilia, one of the most expensive residential properties in Mumbai and overall the world. Needless to say, Altamount Road, often dubbed “Billionaire’s Row,” is one of the most prestigious residential addresses in India.
Its prime location in South Mumbai, coupled with luxurious amenities and a high-end lifestyle, makes it an exclusive enclave for the elite. While the neighbourhood may not have sprawling parks, its proximity to the serene Oval Maidan and the vibrant Marine Drive offers ample opportunities for outdoor activities and relaxation.
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6. Pali Hill
Average Rate: Rs. 35,970 per sqft
Monthly Average Rent for a 2BHK: Rs. 1.9 lac
Another posh residential area in Mumbai, Pali Hill is full of beautiful bungalows and modern buildings. Its prestigious neighbourhood in the west of Bandra is known for lush greenery and peaceful retreats. For healthcare needs, residents have access to renowned hospitals like Hinduja Hospital and Lilavati Hospital. When it comes to shopping and dining, Pali Hill offers a range of options, from upscale boutiques and gourmet restaurants to trendy cafes and street food stalls.
The proximity to Bandra Kurla Complex, a major commercial hub, ensures excellent connectivity and easy access to workplaces. Additionally, the presence of high-end schools and international schools such as Dhirubhai Ambani International School, Stellar World School, and Don Bosco International School, in the vicinity makes it an ideal choice for families.
7. Kandivali
Average Rate: Rs. 17,734 per sqft
Monthly Average Rent for a 2BHK: Rs. 51,000
One of the affordable residential localities in Mumbai, Kandivali has become popular for its industrial spaces. It shares excellent connectivity to several major areas such as SV Road, New Link Road, and Western Expressway. Moreover, the area boasts some of the top employment hubs such as Lotus Corporate Park, DLH Park, Synergy Business Park, and NESCO IT Park. Kandivali offers a variety of hospitals, including Shatabdi Hospital and Oscar Hospital.
The locality also has several shopping malls, such as Infinity Mall and Akruti Mall, providing a wide range of shopping and entertainment options. While Kandivali may not have extensive green spaces, it offers several local parks and gardens for relaxation and outdoor activities. Additionally, the proximity to the Sanjay Gandhi National Park provides opportunities for nature enthusiasts to explore.
While each of these neighbourhoods offers a unique lifestyle, the best residential area in Mumbai ultimately depends on individual preferences and priorities. For those seeking a luxurious and exclusive lifestyle, Altamount Road and Pali Hill are ideal choices. On one hand, Breach Candy offers a blend of heritage and modern amenities. Kandivali, on the other hand, provides a more affordable and family-friendly option. In the end, keep your lifestyle needs in mind while choosing the best residential areas in Mumbai!
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Frequently Asked Questions
1. Which area of Mumbai is the best to live in?
Colaba, Versova, Juhu, and Bandra West are a few of the top localities in Mumbai.
2. Where do middle-class people live in Mumbai?
Mumbai offers a range of housing options for middle-class and elite families. Kurla and Kandivali are a few of the best residential areas for anyone looking for budget options.
3. Which is the richest area to live in Mumbai?
Malabar Hill is the richest residential area in Mumbai, featuring breathtaking views of the Arabian Sea and Nariman Point Skyline.
4. What is the poor locality in Mumbai?
Dharavi, one of the largest slums in the world, has a low-rise building style and narrow street structure.
5. Which is the VIP area in Mumbai?
Bandra, one of the posh areas in Mumbai, is home to several Bollywood celebrities and a real estate hotspot for luxury apartments.
