Can You Still Buy a Home in Mumbai for ₹1 Crore in 2025? Exploring Options in the Western Suburbs

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Can You Still Buy a Home in Mumbai for ₹1 Crore in 2025? Western Suburbs Offer Limited Yet Promising Options

Mumbai’s skyline has always reflected its real estate story—high rises, high demand, and high prices. But in 2025, amid rising home costs, one question continues to dominate the minds of first-time buyers: “Is ₹1 crore still enough to buy a home in Mumbai?”

Surprisingly, the answer is yes—if you know where to look. A recent analysis by 1 Finance, a personal finance advisory firm backed by the Marwadi Chandarana Group, dives deep into the Mumbai Home Price Index, revealing how Mumbai’s Western Suburbs remain a viable pocket for affordable housing, even in 2025.

Let’s break down what this means for potential buyers today.

Mumbai Home Price Index: The 2025 Snapshot

According to 1 Finance’s comprehensive real estate data, Greater Mumbai’s average property price stands at ₹32,632 per square foot (PSF), while the Western Suburbs average is ₹26,814 PSF.

This may sound steep—but the Western Suburbs still offer better value compared to the island city or southern Mumbai zones.

The analysis covers the region stretching from Dahisar to Vile Parle, with special focus on Goregaon, Malad, Kandivali, and Borivali—micro-markets that have emerged as sweet spots for budget-conscious buyers.

Square Feet You Can Get for ₹1 Crore in 2025

So, what can ₹1 crore actually buy you?

Here’s a quick look at how much area you get in these suburbs today:

In 2025, if you're working with a ₹1 crore budget, here’s what you can expect in Mumbai’s Western Suburbs:

Kandivali West offers the most value, with an average price of ₹21,058 per square foot, giving you approximately 475 sq. ft of space.

Borivali West follows closely, priced at ₹22,105 per square foot, where ₹1 crore can get you about 452 sq. ft.

In Malad East, where the rate stands at ₹25,300 per square foot, you can expect to get around 395 sq. ft.

Goregaon East is the most expensive among these, with prices averaging ₹28,277 per square foot, providing you roughly 354 sq. ft for ₹1 crore.

Kandivali West currently offers the most space for ₹1 crore, while Goregaon East is the priciest among the lot. Over the last five years, home prices in the Western Suburbs have grown by 4% annually, while Greater Mumbai has seen a 5% annual growth—a minimal difference but noteworthy for long-term investment planning.

Then vs. Now: The ₹1 Cr Value Comparison

Let’s rewind to February 2021:

- Malad East offered ~562 sq. ft for ₹1 crore

- In February 2025, the same amount gets you only ~395 sq. ft

That’s a 30% drop in square footage in just four years. The biggest appreciation was seen in Goregaon East, while Kandivali West became the most affordable by 2025.

Despite these rising prices, certain pockets remain accessible for homebuyers with a ₹1 crore budget—especially for 1 BHK units.

Why the Western Suburbs Are Still Attractive

Several factors keep these areas in demand:

✅ Metro Connectivity: The newly operational Metro Lines 2A and 7 have significantly improved accessibility from Dahisar to Andheri, cutting commute times and enhancing connectivity.

✅ Corporate and Retail Growth: Business parks in Goregaon and Malad, along with thriving retail zones like Inorbit Mall and Oberoi Mall, add lifestyle and employment appeal.

✅ First-Time Buyer Market: As per 1 Finance, 33% of Greater Mumbai’s property registrations in 2024 came from the Western Suburbs, highlighting strong traction from entry-level buyers.

✅ New Launches: In 2024 alone, 41% of Greater Mumbai’s new launches were in the Western Suburbs, with Borivali, Kandivali, Malad, and Goregaon accounting for 72% of the new inventory.

Affordability Is Relative—But Still Within Reach

While ₹1 crore may not buy you a sea-facing 2 BHK in Bandra anymore, it still gets you a well-located, compact 1 BHK with decent amenities in a growing suburb.

For example:

- A 1 BHK in Kandivali West or Borivali East offers good access to schools, hospitals, and metro stations.

- Developers are offering affordable housing under 450–500 sq. ft, ideal for singles, couples, and nuclear families.

- These micro-markets are still within city limits, offering a balance between cost and convenience.

Investment Perspective: Are These Areas Worth It?

Long-term investors will find comfort in the steady capital appreciation and rental demand in these areas.

📈 Kandivali East has posted the highest 10-year growth rate at 6% per annum, followed by Borivali West at 5%.

With a robust end-user base, upcoming infrastructure, and improved metro connectivity, these areas are expected to retain value and rental demand, even amid broader economic shifts.

Things to Watch Out For

Despite the positives, potential buyers should keep the following in mind:

- Current supply levels could take up to 4 years to absorb at present sales velocity. This indicates a relatively slower inventory movement, which may pressure prices or lead to delays in some projects.

- Construction timelines and developer credibility are still vital. Always check RERA registration, project delivery history, and amenities offered before making a commitment.

- With many projects being under construction, buyers must assess possession timelines and legal compliance thoroughly.

Final Thoughts: Is ₹1 Crore Still Enough?

Yes, it is—but only if your expectations are aligned with the current market.

Mumbai’s Western Suburbs—Kandivali, Borivali, Malad, and Goregaon—continue to be viable for first-time buyers and budget-conscious investors.

The key is to act quickly, choose projects backed by reputed developers, and take advantage of current infrastructure developments before prices push affordability further out of reach.

So if you’re eyeing a home in the ₹1 crore range, 2025 might just be your last best chance to enter Mumbai’s ever-competitive property market—especially in its Western sweet spot.