These are the latest property rates in Lower Parel, Mumbai — the mill-land district around Senapati Bapat Marg, Kamala Mills and Phoenix — with configuration-wise price estimates, commercial rates, rental figures and how Lower Parel compares with its neighbours.
Commercial Property Rates in Lower Parel
On a carpet-area basis, from real lease examples — Kamala Mills around ₹155–175, Naman Midtown ₹180, Peninsula Business Park ₹191, One Lodha Place ₹210 per sq.ft/month.
Lower Parel is Mumbai’s densest office cluster after BKC — Kamala Mills, Phoenix, Peninsula Corporate Park, One World Center and Marathon Futurex. Office sale rates vary too widely by building and vintage to quote reliably, so they aren’t shown. Not Asraa Realty’s own commercial data.
Estimated Property Prices in Lower Parel
These property rates in Lower Parel reflect actual listed prices on a carpet-area basis, across Senapati Bapat Marg, the Delisle Road pocket and the Curry Road side.
Branded luxury towers price far higher — Ashford Casa Grande around ₹73,500/sq.ft, Kalpataru One ₹72,000, Enpar Lotus Residency ₹68,400, Ruparel The Titan ₹68,150 — with large homes in these buildings running ₹12–25 Cr.
Rental Rates in Lower Parel
From independent market research, not Asraa Realty’s own rental listings. A 4 BHK rents around ₹4.90 Lakh/month. The average rental rate is about ₹194/sq.ft/month, a gross yield near 4.1% — high for South Mumbai, on strong corporate-tenant demand from the office district.
Lower Parel Property Price Trend
Lower Parel ran up hard through 2021–25 on the mill-land and office boom, then softened — asking rates are down about 5.7% over the last year as luxury inventory built up.
Earlier points are derived from published appreciation data for property rates in Lower Parel (+20.6%/5yr, +3.2%/3yr).
Estimate Your Property’s Value
Enter the carpet area and configuration of a property in Lower Parel to get an instant range, between the indicative transaction benchmark and the current asking rate.
Estimate only, based on carpet area (per RERA’s mandatory quoting rule) — actual value depends on the specific unit.
This is a quick estimate using this locality’s researched transaction and asking rates. For a precise, property-specific valuation, get an exact valuation.
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Lower Parel & Neighbouring Localities
| Locality | Rate | vs Lower Parel |
|---|---|---|
| Worli | ₹73,000 | +35% |
| Prabhadevi | ₹64,000 | +19% |
| Lower Parel (this locality) | ₹54,000 | — |
| Parel | ₹45,500 | -16% |
Prabhadevi, Parel and Worli are all independently researched and cross-verified as of 6 September 2026.
Lower Parel’s blended rate has fallen back to roughly Dadar West levels after its luxury-inventory build-up — but its Senapati Bapat Marg towers still overlap the Worli price band.
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Chat on WhatsApp or call +91 96199 73211About Lower Parel
Lower Parel is the redeveloped mill district between Prabhadevi and Byculla, built around Senapati Bapat Marg. Old textile-mill compounds — Kamala Mills, Phoenix, Todi, Mathuradas — now hold offices, restaurants and malls, with luxury residential towers layered over and around them.
At about ₹54,000/sq.ft asking, property rates in Lower Parel have come down noticeably — independent sources put the locality between ₹50,000 and ₹56,950, well below the ₹65,000 figure carried on older indices.
Registered deals average lower still, near ₹35,300/sq.ft, from a very high 907 transactions worth ₹2,010 crore over the year to August 2026.
The softening is a supply story: a wave of premium tower inventory delivered into a market where end-user demand is largely for offices, not homes. This page uses ₹41,000/sq.ft as an indicative transaction mid-point, with both source figures in the methodology note.
Where Lower Parel is unambiguously strong is commercial — it is Mumbai’s densest office cluster after BKC, and Grade-A office space leases at ₹155–210/sq.ft/month.
What Affects Prices in Lower Parel
Frequently Asked Questions
Common questions about property rates in Lower Parel, covering residential, commercial and rental figures.
What is the current property rate in Lower Parel?
The average asking rate for property rates in Lower Parel is around ₹54,000 per sq.ft carpet area (as of mid-2026); independent sources put the locality between ₹50,000 and ₹56,950, below the ₹65,000 figure carried on older indices.
An indicative transaction benchmark — not independently verified — is around ₹41,000 per sq.ft; the registered average is lower, near ₹35,300. The Ready Reckoner (built-up area) runs a wide ₹28,000–56,000 per sq.ft band.
Why have property rates in Lower Parel fallen?
Lower Parel had a long run-up on the mill-land and office boom, then a large amount of premium residential tower inventory was delivered into a market whose core demand is for office space, not homes.
Asking rates are down about 5.7% over the last year as a result. The commercial market, by contrast, remains strong.
What is the office rent in Lower Parel?
Grade-A office space in Lower Parel leases at roughly ₹155–210 per sq.ft per month on a carpet-area basis — Kamala Mills around ₹155–175, Naman Midtown ₹180, Peninsula Business Park ₹191, and One Lodha Place about ₹210.
It is Mumbai’s densest office cluster after BKC.
What is the average rent for a home in Lower Parel?
Based on independent market research, a 1 BHK in Lower Parel rents for around ₹55,700/month, a 2 BHK around ₹1.50 Lakh/month, and a 3 BHK around ₹3.69 Lakh/month, for a gross yield near 4.1%.
Are these rates guaranteed, and how are they calculated?
No — the asking, transaction and Ready Reckoner rates are sourced from independent third-party market research, not guaranteed or a substitute for a professional valuation.
Asraa Realty separately began recording its own monthly rate snapshot for this locality on 6 September 2026. For an exact, property-specific figure, use the enquiry form above.
About Our Property Rate Data
Rates on this page — asking, transaction benchmark, Ready Reckoner, BHK, commercial and rental figures — are drawn from independent published research and government records, not generated by Asraa Realty.
All figures are on a carpet-area basis, per RERA’s mandatory quoting requirement. The headline figure for property rates in Lower Parel is bracketed by independent sources between ₹50,000 and ₹56,950/sq.ft — a step down from the ₹65,000 figure this page previously carried.
Registered deals average about ₹35,300/sq.ft (907 deals, year to August 2026) while one portal models the market transaction rate near ₹43,500; this page uses ₹41,000 as an indicative mid-point.
The Ready Reckoner is a published but very wide band. Actual prices vary sharply by building, tenure and floor. Use the enquiry form above for a precise, property-specific estimate.
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