Mahalaxmi in 2026 has six active projects (one — Sky 7 Collection — is largely sold out, bringing the effectively available count to six) across a price range that no other SoBo locality can match: Rs 5.04 Crore to Rs 45 Crore, in the same pin code. If you are shortlisting Mahalaxmi, you need to understand all six simultaneously — not just the one your broker is incentivised to show you. Property Butler tracks every unit across all six projects. Here is the complete field guide.
Mahalaxmi: 6 Active Projects, 43 Live Units — May 2026
PSF carpet range: Rs 57,468 to Rs 1,03,448. Three projects are ready to move (OC received); three are under construction with possession 2028 to 2031. The locality is undergoing the most ambitious luxury residential transformation in South Mumbai outside of Worli Sea Face.
Project 1: Lodha Bellevue — The Entry Point
Developer: Lodha Group (Macrotech Developers) — India's largest residential developer by sales volume.
Status: OC Received — Ready to Move Immediately.
Configurations available:
- 3BHK: Rs 5.04 Crore (877 sq ft carpet, Rs 57,468 per sq ft) to Rs 6.30 Crore (1,111 sq ft carpet)
- 4BHK: Rs 9.36 Crore (1,603 sq ft carpet) to Rs 10.71 Crore (1,960 sq ft carpet)
- 5BHK: Rs 15.66 Crore (2,749 sq ft carpet) to Rs 16.70 Crore (2,961 sq ft carpet)
Views: Open view and city view on most units. Limited garden-facing options. Not primarily a sea-view project.
Who should buy this: The investor who wants Day 1 rental income in Mahalaxmi. The end-user who does not want to wait or pay pre-EMI interest on under-construction alternatives. The family that wants the most affordable 3BHK entry in the locality (Rs 5.04 Crore). Lodha's OC-received status is particularly valuable in a market where 30 percent of Mumbai under-construction projects have delayed past their RERA dates.
Rental estimate: Rs 70,000 to Rs 90,000 per month for a 3BHK. Rs 1,00,000 to Rs 1,30,000 for a 4BHK.
Project 2: Piramal Mahalaxmi — The Premium RTM Option
Developer: Piramal Realty — known for the highest standard of luxury finish in South Mumbai. Piramal Vaikunth (Thane), Piramal Aranya (Byculla), and Piramal Mahalaxmi are the three flagship projects.
Status: OC Received — Ready to Move.
Configurations available:
- 2BHK: Rs 5.50 Crore (774 sq ft carpet, Rs 71,059 per sq ft) — only 2BHK with OC in Mahalaxmi
- 3BHK: Rs 9.20 Crore (1,152 sq ft, Rs 79,861 per sq ft) to Rs 12.50 Crore (1,450 sq ft, Rs 86,207 per sq ft)
- 4BHK: Rs 14.70 Crore (1,860 sq ft, Rs 79,032 per sq ft)
Views: City view, garden view, open view. Premium upper-floor units with open views of the Racecourse green.
Who should buy this: The buyer who wants Piramal's superior finish standard and is willing to pay the 24 percent PSF premium over Lodha Bellevue for it. The compact luxury buyer who wants a 2BHK OC unit in Mahalaxmi (the only one). The investor who wants the best per-sqft rental yield on a ready asset — Piramal's finish quality commands rental premiums of 10 to 15 percent above comparably-priced buildings in the same locality.
Project 3: Prestige Jasdan Classic — The Boutique High-Value Entry
Developer: Prestige Estates Projects Limited — Bengaluru's premier developer now active in South Mumbai.
Status: OC Received — Ready to Move.
Configurations available:
- 4BHK: Rs 12.00 Crore (1,766 sq ft carpet, Rs 67,950 per sq ft) — inclusive of all costs
- 5BHK: Rs 15.50 Crore (2,512 sq ft carpet, Rs 61,705 per sq ft) — all inclusive
Views: Open view and road facing. Not a sea-view project.
Who should buy this: The large-format family buyer (4 to 5 bedrooms) who wants OC certainty at a PSF below Piramal and Godrej for a ready unit. The "all inclusive" pricing (Rs 12 Crore covers all costs, not just the base price) is a transparency advantage — many buyers have been surprised by Rs 50 to Rs 1 Crore in "extras" at other projects. Prestige's track record of delivering on finish specifications is strong.
Project 4: Godrej Avenue Eleven — The Under-Construction Large Format
Developer: Godrej Properties — one of India's three most trusted residential developers (alongside Lodha and Prestige).
Status: Under Construction — Possession December 2028.
Configurations available:
- 4BHK: Rs 15.07 Crore (2,105 sq ft carpet, Rs 71,592 per sq ft) to Rs 17.60 Crore (2,459 sq ft carpet, Rs 71,573 per sq ft)
- Multiple configurations available — sea view, open view, city view
Views: Sea view on primary configurations. Open view and city view on others. December 2028 means genuine altitude — Godrej Avenue Eleven is designed as a supertall project with verified sea views from upper-middle floors upward.
Who should buy this: The family buyer who needs 4 bedrooms, wants verified sea view, and has a budget of Rs 15 to 18 Crore. Godrej's brand and delivery track record make the 30-month construction wait less stressful than it would be with a regional developer. Pre-EMI interest on a Rs 12 Crore loan at 9 percent for 30 months is approximately Rs 2.7 Crore — factor this into the effective cost.
Project 5: Raheja Modern Vivarea — The Ultra-Luxury Statement
Developer: K Raheja Corp — developer of Mindspace business parks, Raheja Atlantis (Worli), and now Modern Vivarea (Mahalaxmi).
Status: Under Construction — Possession March 2028.
Configurations available:
- 3BHK: Rs 18 Crore (1,740 sq ft carpet, Rs 1,03,448 per sq ft)
- 4BHK: Rs 24.50 Crore (2,259 sq ft carpet, Rs 1,08,455 per sq ft)
- 5BHK: Rs 26.10 Crore (2,889 sq ft carpet, Rs 90,343 per sq ft)
- Office space: Rs 1.25 Lakh per month (furnished, ready)
Views: Sea view on primary configurations. Raheja Modern Vivarea is a supertall tower — the sea view from the principal floors is genuine and expansive, not a distant shimmer. This is the product's core value proposition.
Who should buy this: The buyer at Rs 18 Crore-plus who wants a sea-facing ultra-luxury statement address in Mahalaxmi with guaranteed view quality. Raheja's PSF at Rs 1,03,448 is the highest in the locality — buyers are paying for altitude, guaranteed sea view, and the ultra-luxury positioning that Raheja has achieved in Worli with Atlantis. Pre-EMI interest on a Rs 15 Crore loan for 22 months at 9 percent is approximately Rs 2.5 Crore.
Project 6: 25 Downtown by Hubtown — The Long-Term Mega-Bet
Developer: Hubtown (Twenty Five Downtown Realty Limited) — developer of Hubtown Rising (Mazagaon) and Hubtown Celeste (Worli).
Status: Under Construction — Possession December 2031.
Configurations available:
- 4BHK: Rs 31 Crore (3,400 sq ft carpet, Rs 91,176 per sq ft)
- 5BHK: Rs 45 Crore (5,000 sq ft carpet, Rs 90,000 per sq ft)
Views: Sea view on primary configurations. December 2031 possession is 5.5 years away.
Who should buy this: The buyer with Rs 30 Crore-plus liquidity who is betting on South Mumbai ultra-luxury appreciation over a 7 to 10 year horizon. The 5BHK at 5,000 sq ft carpet for Rs 45 Crore is targeting Malabar Hill and Cuffe Parade-level buyers who want a new-construction product at that size in Mahalaxmi. This is speculative capital — not for buyers who need a home or rental yield in the next 3 years.
Quick Reference: Which Project for Which Buyer
| Buyer Profile | Best Project | Entry Price |
|---|---|---|
| Investor, immediate yield | Lodha Bellevue | Rs 5.04 Cr (3BHK) |
| Compact luxury couple | Piramal Mahalaxmi 2BHK | Rs 5.50 Cr (2BHK OC) |
| Large family, OC certainty | Prestige Jasdan Classic | Rs 12 Cr (4BHK all-inclusive) |
| 4BHK with sea view, Dec 2028 | Godrej Avenue Eleven | Rs 15.07 Cr (4BHK) |
| Ultra-luxury statement, sea view | Raheja Modern Vivarea | Rs 18 Cr (3BHK) |
| 10-year horizon, mega-size | 25 Downtown | Rs 31 Cr (4BHK, Dec 2031) |
Frequently Asked Questions
Is Mahalaxmi a good locality for property investment in 2026?
Yes, with a nuanced view. Mahalaxmi's location between Lower Parel (commercial hub), Worli (luxury residential), and the Coastal Road (Haji Ali access) makes it a genuinely strategic address. The Mahalaxmi Racecourse redevelopment (8,000-plus units planned) creates near-term uncertainty but long-term infrastructure upgrade. Buyers with 5-plus year horizons are well positioned; 2 to 3 year flippers face more uncertainty from the redevelopment variable.
Which Mahalaxmi project has the best resale value?
Lodha Bellevue benefits from Lodha's brand recognition and the broadest buyer pool (the Rs 5 to 10 Crore buyer is the most numerous). Piramal Mahalaxmi commands a premium at resale due to finish quality — buyers specifically seek out Piramal product. Godrej Avenue Eleven will likely have strong resale when it delivers in December 2028, given Godrej's consistent secondary market performance. Raheja Modern Vivarea and 25 Downtown have a narrower potential buyer pool (Rs 18 Crore-plus) which typically means slower resale pace but higher absolute appreciation.
What is the Mahalaxmi area like to live in day-to-day?
Mahalaxmi is quieter than Lower Parel and less congested than Dadar. The Racecourse (currently operational) provides a significant green buffer. The Mahalaxmi Temple and the Haji Ali Dargah (walking distance or 5 minutes by car) are landmarks that draw weekend visitors, which adds some traffic on specific days. Amenities for daily living (supermarkets, hospitals — Breach Candy is 10 minutes — schools, restaurants) are accessible. The Coastal Road's Phase 1 (to Marine Drive) significantly reduces travel time to South Mumbai's commercial core.
What are typical maintenance charges in Mahalaxmi luxury towers?
Luxury tower maintenance in Mahalaxmi typically runs Rs 8 to Rs 18 per sq ft per month of carpet area. For a 1,500 sq ft carpet unit, that is Rs 12,000 to Rs 27,000 per month. Projects with concierge services, rooftop amenities, and gym infrastructure trend toward the higher end. Always ask the builder for the estimated maintenance charge per sq ft before signing, as these are not capped by RERA and can be revised upward by the society after formation.
Related Reading
-> Why There Is an 80% PSF Gap in Mahalaxmi — Decoded -> Complete Mahalaxmi Property Buying Guide 2026 -> Mahalaxmi Investment Horizon: 3, 5 and 10 Year Analysis -> Mahalaxmi Market Intelligence Report May 2026Shortlisting Mahalaxmi Properties?
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