Flat-tening the Curve: Mumbai's Property Prices Reach New Heights

In a biting commentary on the stratospheric real estate prices of Mumbai, a recent report by Knight Frank says that Rs 9 crore (approximately $1 million) will only fetch you 99 square meters of prime residential realty in the city. This is 2.6% less space than a decade ago, indicative of Mumbai's status as one of the most expensive real estate centers of the world. The same amount of money will fetch you 208 square meters in Delhi and 370 square meters in Bengaluru, indicating the gaping price differentials between India's top cities. Mumbai property prices are also viewed by the report as increasing by 30% in the past decade, nearly as much as the 27% fall in the value of the Indian rupee against the US dollar.

Source: Knight Frank Wealth Report 2025