Mumbai, often referred to as the financial and commercial capital of India, is also home to the highest number of billionaires in Asia. The city’s real estate market, particularly in select upscale areas, has become a symbol of luxury and opulence. With 92 billionaires calling Mumbai home, the city has earned the title of the Billionaire Capital of Asia, surpassing Beijing. Property prices in these exclusive neighborhoods have reached staggering levels, attracting business magnates, celebrities, and industrialists who are willing to invest millions in luxurious homes with sweeping views of the Arabian Sea. Below, we take a closer look at the seven most expensive residential locations in Mumbai, where the rich and famous reside.
1. Malabar Hill: The Epitome of Luxury Living
Malabar Hill is widely regarded as one of Mumbai’s most prestigious and expensive residential areas. Known for its proximity to the Arabian Sea and its panoramic views, the neighborhood has long been home to some of the wealthiest individuals in India. Billionaires such as Godrej Industries chairman Nadir Godrej have invested in this area. A noteworthy recent acquisition was made by Rekha Jhunjhunwala, the second-richest woman in India, who reportedly spent Rs 118 crore to buy multiple units in a building in order to preserve her unobstructed sea view.
Average property prices: Rs 42,000 – Rs 69,000 per square foot (according to Housing.com)
2. Cuffe Parade: The Southern Jewel of Mumbai
Cuffe Parade, located at the southernmost tip of Mumbai, is another highly sought-after address. Its Nariman Point and scenic views of the sea make it a prime location for affluent individuals. Notable residents include industrial magnate Ratan Tata. The combination of residential properties and five-star hotels elevates the neighborhood’s appeal, with property prices reflecting its exclusivity.
Average property prices: Rs 45,000 – Rs 69,000 per square foot (according to Housing.com)
3. Tardeo: Home to India’s Richest Family
Tardeo, located in South Mumbai, is most famous for being the location of Antilia, the 27-storey mansion of Mukesh Ambani, India’s richest man. Apart from the Ambani family’s opulent residence, Tardeo features many commercial properties and is home to educational institutions and healthcare facilities. In recent years, residential property rates in Tardeo have risen sharply, fueled by the presence of the Ambanis and the area’s development.
Average property prices: Rs 46,762 per square foot approximately (according to Housing.com)
4. Juhu: A Bollywood Haven
Juhu, located in the western suburbs of Mumbai, is one of the most iconic residential neighborhoods in the city. Known for its beachfront properties, Juhu is home to a host of Bollywood celebrities, including Amitabh Bachchan, Akshay Kumar, Hrithik Roshan, and Ajay Devgn. With its upscale villas and independent floors, Juhu offers a serene, coastal living experience that attracts India’s top actors, producers, and directors.
Average property prices: Rs 45,014 per square foot approximately (according to Housing.com)
5. Bandra (West): The Glamorous Bollywood Hub
Bandra (West) has long been a favorite of Mumbai’s elite, particularly Bollywood celebrities. From Shah Rukh Khan’s iconic Mannat to other celebrity homes, the area is packed with high-end apartments, bungalows, and duplexes. It is also home to a vibrant cultural scene, top-notch restaurants, and exclusive boutiques. Recently, South Indian actor Prithviraj Sukumaran made headlines with his purchase of a Rs 30 crore duplex in Pali Hill, Bandra West, further cementing the area’s status as a luxury hotspot.
Average property prices: Rs 46,662 per square foot approximately (according to Housing.com)
6. Worli: A New Luxury Destination
Worli, with its impressive collection of high-rises and commercial properties, has become an attractive destination for Mumbai’s wealthiest residents in recent years. The area offers stunning sea views and exceptional connectivity to both South Mumbai and Bandra, making it ideal for those seeking a central yet exclusive location. High-profile business figures, including Radhakishan Damani, have made significant investments in this area, buying penthouses and luxury properties in new developments like Three Sixty West.
Average property prices: Rs 45,594 per square foot approximately (according to Housing.com)
7. Colaba: A Historic, Iconic Locale
Colaba, located near the bustling Gateway of India and the famous Colaba Causeway, is one of Mumbai’s most iconic neighborhoods. Known for its vibrant mix of residential towers and high-end boutiques, Colaba is also a popular tourist destination. Despite its commercial nature, it boasts luxury apartments and historic buildings such as Sea Wind, the former residence of Mukesh Ambani and his family. The area offers a blend of old-world charm and modern luxury, making it an attractive location for the affluent.
Average property prices: Rs 41,166 per square foot approximately (according to Housing.com)