Mumbai, the country’s financial capital and a highly sought-after metropolitan city, offers plenty of entertainment options and excellent internal connectivity. Since major industries operate from here, there are also several job opportunities. These factors have raised the demand for residential properties in Mumbai, particularly flats, which has led to skyrocketing prices. That said, the rates vary depending on the location, amenities, layout, and other factors, so one should research well before investing in real estate.

1. Location
Those new to Mumbai must understand the city’s real estate landscape. Doing so can help one narrow down flats that most suit their needs. The city is broadly divided into four major zones.

South Mumbai
Abbreviated colloquially as SoBo or the “town side,” South Bombay is home to a major port, historical monuments like the Gateway of India, luxurious hotels, upscale restaurants, old colonial buildings, and iconic landmarks. Multinational companies, the famous Wankhede stadium, and the headquarters of the Brihanmumbai Municipal Corporation (BMC) are also located here. Property prices in South Mumbai are among the highest in the country because of its upmarket neighborhood. Some common residential areas here are Colaba, Parel, Worli, Lower Parel, Marine Drive, Malabar Hill, Mahalaxmi, and Cuffe Parade. A flat in these areas can run into a few cores.

Western Suburbs
The western precinct of the city houses several residential areas closely connected to major corporate campuses, entertainment centers, and educational institutions. It also houses the international airport of Mumbai. Andheri, Bandra, Juhu, Borivali, Dahisar, Goregaon, Khar, Malad, Mira Road, Vile Parle, Jogeshwari, and Santacruz are some common residential areas in this region. Among these, flats in Dahisar and Jogeshwari are cheaper. Connectivity to local transport, proximity to business hubs, and an array of recreational activities offered round the clock make the Western Suburbs ideal for luxury stays and work-life balance. Properties here are also comparatively cheaper than South Mumbai.

Eastern Suburbs
This region has relatively affordable housing options, even with its skyscrapers, planned townships, high-rise apartments, and gated communities. Bhandup, Ghatkopar, Kanjurmarg, Kurla, Chembur, Mankhurd, Mulund, Nahur, Powai, Vidyavihar, and Vikhroli are some sought-after localities here. Their strategic location and amenities attract families and young professionals who want a well-rounded, convenient, and reasonable lifestyle within the city and quick access to top-tier schools, colleges, universities, and workspaces.

Navi Mumbai
This is a planned satellite city next to Mumbai with a well-organized infrastructure. It is planned in a way that promotes efficient traffic flow and also sees fewer slums and more open spaces. Navi Mumbai can be ideal for those wanting to stay connected to Mumbai but have a more serene and spacious living environment. Vashi, Nerul, Kharghar, Panvel, and Airoli are some of the most sought-after residential areas here.

2. Amenities
Those purchasing or renting a flat in Mumbai can look forward to several amenities.

Security
The city offers high-tech safety features, with robust surveillance systems installed across several locations and a vigilant police force. Many gated communities also have intercom facilities and hire dedicated personnel for the safety of their residents.

Transportation
Mumbai has several modes of transportation that help people travel from one place to another. Active metro lines, buses, auto rickshaws, cabs, and local trains every few minutes ensure efficient mobility. Those wanting a more comfortable within-city transportation option can opt for ride-hailing or carpooling services through various apps.

Door-to-door services
Mumbai is among the few cities in the country offering almost all housing services, from plumbing and electrical work to interior design and home maintenance online through apps. Since it has a large pool of professionals, several home-cooked tiffin services and food delivery apps are also available to provide door-to-door service to homes and offices. Apart from this, one may find food stalls and affordable fruit and vegetable markets in every nook and corner of the city.

3. Layout
The layout of flats in Mumbai varies depending on the location and the target demographic, but they usually fall under three configurations.

1BHK
Flats with one bedroom, a hall, and a kitchen (BHK) are suitable for single working professionals, couples, or smaller families. They are among the most affordable options.

2BHK
This configuration, with two bedrooms, works well for small-to-medium-sized families. It is the most commonly found layout in almost all major housing projects in the city.

3BHK and larger
Those with larger families or those looking for a more luxurious stay in the city can opt for 3BHK apartments. These are more commonly found in upscale localities and come with premium amenities.

4. Government policies
In Mumbai’s real estate market, government policies play a significant role. RERA (Real Estate Regulatory Authority), for instance, protects the buyers’ interests to ensure safe housing transactions, timely deliveries, and quality of service. Similarly, the Development Control Regulations (DCR) regulates the construction height, land use, and other norms, while the Maharashtra Housing and Area Development Authority (MHADA) provides heavily discounted housing options for low and middle-income groups.