Mumbai’s rental housing market offers a wide range of apartment options within a monthly budget of Rs 90,000, depending largely on the location, property type and available amenities.
The discussion gained attention after a Mumbai resident, Anuj Gawande, shared on Instagram his journey from living in a shared 1 BHK apartment to renting a home worth Rs 90,000 a month in the city. In the video, he reflected on his four-year experience in Mumbai and described how the city rewarded his efforts and consistency.
Real estate consultants say a Rs 90,000 monthly rental budget can secure different categories of homes across Mumbai’s micro-markets.
“In the western suburbs, tenants can typically rent a 2 BHK or 3 BHK apartment in areas such as Borivali, Kandivali, Malad, Goregaon, and Andheri. However, premium locations like Bandra or Juhu may offer compact 1 and 2 BHK homes within older buildings,” said Bhavin Thakkar, a Mumbai-based real estate consultant.
He further explained that central suburban locations such as Powai, Vikhroli, Ghatkopar and Mulund offer comparatively larger homes within the same budget range.
“With a budget of Rs 90,000 in the central suburbs, including Powai, Vikhroli, Ghatkopar and Mulund, one can rent a spacious 2 BHK apartment and, in some projects, even compact 3 BHK units with amenities such as clubhouses, pools and parking. Powai remains among the costliest central suburban markets due to the presence of commercial offices of national and multinational firms,” Thakkar said.
In central Mumbai locations including Lower Parel, Dadar, Wadala and Prabhadevi, consultants say the same amount may fetch a compact 2 BHK or a spacious 1 BHK in newer residential towers because of high demand and proximity to business districts.
“In South Mumbai, Rs 90,000 a month may typically secure a compact 1 BHK apartment or a smaller apartment in older buildings in areas such as Colaba, Marine Lines, or parts of Worli, followed by premium localities including Malabar Hill, Cuffe Parade and Nepean Sea Road. However, one can manage a 2 BHK apartment in South Mumbai for that budget in Mazgaon or Byculla,” said Parimal Shah, a South Mumbai-based real estate consultant.
According to Maharashtra Inspector General of Registration (IGR) data, Mumbai records over 25,000 to 35,000 rental transactions every month, including leave-and-license agreements.
Source: Hindustan Times
