These are the latest property rates in Parel, Mumbai — the Central-line healthcare and redevelopment belt around Jerbai Wadia Road and Dr. Ambedkar Road — with configuration-wise price estimates, rental figures and how Parel compares with its neighbours.
Estimated Property Prices in Parel
These property rates in Parel reflect actual listed prices on a carpet-area basis, across Jerbai Wadia Road, Dr. Ambedkar Road, Bhoiwada and the Parel Village pocket.
Branded towers price far higher — Kalpataru Avana around ₹61,950/sq.ft, Lodha Codename Hidden Jewel ₹60,750, Tata Condor Gardens ₹60,450 — with large homes in these buildings running ₹9–18 Cr.
Rental Rates in Parel
From independent market research, not Asraa Realty’s own rental listings. A 4 BHK rents around ₹3.25 Lakh/month. The average rental rate is about ₹163/sq.ft/month, a gross yield near 4.25% — among the highest in South Mumbai, on steady hospital-staff and corporate demand.
Parel Property Price Trend
Parel has risen steadily rather than spiked — up about 17% over five years, with each of the last four quarters slightly ahead of the one before.
Earlier points are derived from published appreciation data for property rates in Parel (+17.4%/5yr, +8.8%/3yr).
Estimate Your Property’s Value
Enter the carpet area and configuration of a property in 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.
Live Listings in Parel
Parel & Neighbouring Localities
| Locality | Rate | vs Parel |
|---|---|---|
| Prabhadevi | ₹64,000 | +41% |
| Lower Parel | ₹54,000 | +19% |
| Dadar East | ₹46,000 | +1% |
| Parel (this locality) | ₹45,500 | — |
Prabhadevi, Lower Parel and Dadar East are all independently researched and cross-verified as of 6 September 2026.
Parel trades at roughly Dadar East levels and a clear step below Lower Parel — more of an end-user, hospital-and-redevelopment market than a luxury-tower one, which is also why its rental yield is higher.
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Chat on WhatsApp or call +91 96199 73211About Parel
Parel is the Central-line locality between Dadar and Byculla, historically a mill and mill-worker district and now Mumbai’s main hospital cluster — KEM, Tata Memorial and the Wadia hospitals are all here.
Redevelopment of old chawls and mill land has added a layer of towers along Jerbai Wadia Road and Dr. Ambedkar Road.
At about ₹45,500/sq.ft asking, property rates in Parel sit at roughly Dadar East levels — independent sources put the locality between ₹44,450 and ₹46,650, below the ₹55,000 figure carried on older indices.
Registered deals average lower, near ₹32,600/sq.ft, from 254 transactions worth ₹655 crore over the year to August 2026.
Parel is an end-user market first: steady demand from hospital staff, professionals working in the Lower Parel and BKC office belts, and buyers priced out of Prabhadevi and Worli. That underpins its 4.25% rental yield, among the highest in South Mumbai.
Retail is concentrated on Dr. Ambedkar Road and around the station, where shop space lets at roughly ₹300/sq.ft/month; Parel is not a major office district in its own right.
What Affects Prices in Parel
Frequently Asked Questions
Common questions about property rates in Parel, covering residential and rental figures.
What is the current property rate in Parel?
The average asking rate for property rates in Parel is around ₹45,500 per sq.ft carpet area (as of mid-2026); independent sources put the locality between ₹44,450 and ₹46,650, below the ₹55,000 figure carried on older indices.
An indicative transaction benchmark — not independently verified — is around ₹35,000 per sq.ft; the registered average is lower, near ₹32,600. The Ready Reckoner (built-up area) runs a wide ₹23,000–42,000 per sq.ft band.
What is the price range for a flat in Parel?
Based on current market listings, a 1 BHK in Parel is typically ₹1.14–2.40 Cr, a 2 BHK ₹3.23–4.40 Cr, and a 3 BHK ₹5.50–9.00 Cr on a carpet-area basis.
Branded towers such as Kalpataru Avana, Lodha Codename Hidden Jewel and Tata Condor Gardens run ₹60,000–62,000/sq.ft.
Is Parel cheaper than Lower Parel?
Yes — property rates in Parel run roughly 15–19% below Lower Parel. Lower Parel has the Senapati Bapat Marg office spine and a denser cluster of luxury towers; Parel is more of an end-user, hospital-and-redevelopment market.
Parel’s rental yield (around 4.25%) is correspondingly higher.
What is the average rent in Parel?
Based on independent market research, a 1 BHK in Parel rents for around ₹51,950/month, a 2 BHK around ₹1.30 Lakh/month, and a 3 BHK around ₹1.91 Lakh/month, for a gross yield near 4.25%.
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 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 Parel is bracketed by independent sources between ₹44,450 and ₹46,650/sq.ft — a step down from the ₹55,000 figure this page previously carried.
Registered deals average about ₹32,600/sq.ft (254 deals, year to August 2026) while one portal models the market transaction rate near ₹37,400; this page uses ₹35,000 as an indicative mid-point.
The Ready Reckoner is a published but 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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