Mumbai’s real estate market in 2025 continues to mirror the city’s stark economic divide, where record-breaking luxury deals stand in sharp contrast to shrinking affordability. Earlier this year, a sea-facing apartment in Worli made headlines with a staggering price tag of over ₹600 crore, equivalent to nearly ₹3 lakh per square foot. At the other end of the spectrum, in one of the city’s few remaining ‘affordable’ pockets, a modest 235 sq ft studio apartment in Dahisar West sold for ₹62 lakh, underscoring how steep the cost of homeownership remains even in budget-friendly areas in the financial capital.
With such transactions, the gap between aspiration and accessibility continues to widen, and ₹50–60 lakh barely buys 200 sq ft of space in Mumbai, even in peripheral localities.
Studio apartment transactions in Mumbai
In Dahisar West, a 235 sq ft studio apartment was recently sold for ₹62 lakh at over ₹26,000 per sq ft, according to Zapkey.com data.
In a similar transaction, a studio apartment in the Dadar area of Central Mumbai was sold for ₹49 lakh. The 160 sq ft apartment was sold for over ₹30,000 per sq ft. In the eastern suburbs, a studio apartment measuring 259 sq ft was sold for over ₹68 lakh last month, at a rate of over ₹26,000 per sq ft, according to Zapkey.com data.
In Bandra West, an area renowned for its luxury sea views and sea-facing apartments, which is also home to several Bollywood stars, a 270 sq ft studio apartment was sold for ₹83 lakh, at an average price of over ₹30,000 per sq ft, according to data sourced from Zapkey.com.
Limited supply keeps studio apartments in demand among singles and young couples in Mumbai
According to local brokers, studio apartments are popular among individuals and newly married couples seeking compact homes that offer ownership within the city. These units are typically no larger than a spacious hotel room.
“The supply of studio apartments is extremely limited. In luxury projects where such units are built, they are usually sold as an add-on to larger 3 BHK or 4 BHK apartments, often used as a pooja room, study, staff quarters, or home office,” said Ramesh Nair, a real estate consultant from Mumbai’s western suburbs.
“Developers usually construct studio apartments to meet certain approval conditions. However, these units are primarily sold along with larger apartments,” Nair added.
Bollywood actor Abhishek Bachchan was in the news last year for purchasing six apartments in Mumbai’s Borivali for over ₹16 crore. What stood out in the deal was that out of the six apartments, two measured 252 sq ft, two were spread across an area of around 1,100 sq ft (carpet), and the size of the remaining two was 1094 sq ft, the documents showed.
The two small apartments, each measuring 252 sq ft, could be considered studio apartments, also known as 1 RK (room, kitchen) apartments.
Also Read: What is the lowest rent currently available in Mumbai’s real estate market?
HT.com reported in June 2024 that when developers purchase industrial land, one of the conditions they must meet to convert it to residential use is to construct affordable apartments within the project. That’s the reason why several developers construct a mix of small and large apartments, according to architects.