Flats for Rent in Mahalaxmi — 2026 Rental Guide
Mahalaxmi is South Mumbai's quietest luxury neighbourhood — no through-traffic, Racecourse frontage, and walkable to Mahalaxmi temple and Haji Ali. Property Butler tracks the rental market here. Average PSF asking is ₹64,808 for sale; rental yields are compressed (2.2–2.8%) because prices have run ahead of rents.
Mahalaxmi Rentals — May 2026
₹1,00,000 — ₹6,00,000/month
2–5 BHK | ₹120–₹200/sqft/month | ultra-luxury supply
Rental Ranges in Mahalaxmi
| Config | Carpet (Typical) | Monthly Rent | Rent/sqft | Notes |
|---|---|---|---|---|
| 2 BHK | 850–1,100 sqft | ₹1,00,000–₹1,60,000/mo | ₹120–₹150/sqft | Older Racecourse-facing stock |
| 3 BHK | 1,300–1,800 sqft | ₹1,80,000–₹3,00,000/mo | ₹140–₹170/sqft | Lodha Bellevue, K Raheja belt |
| 4 BHK | 1,800–2,500 sqft | ₹3,00,000–₹5,00,000/mo | ₹150–₹200/sqft | Godrej Avenue Eleven, Prestige |
| 5 BHK / Villa | 2,500–4,000 sqft | ₹5,00,000–₹8,00,000/mo | ₹175–₹210/sqft | Ultra-rare; by enquiry only |
Who Rents in Mahalaxmi?
Typically CXO-level executives, industrialist families and returning NRIs who want a SoBo address with peace and space. Mahalaxmi doesn't have a corporate cluster nearby (unlike BKC/Nariman Point) — it's a lifestyle choice, not a commute optimization. Tenants here stay 2–3 years on average, making it a stable landlord market.
Projects in Mahalaxmi Rental Pool
| Project | BHK Available | Est. Monthly Rent | Developer |
|---|---|---|---|
| Lodha Bellevue | 3–4 BHK | ₹2.50–₹4.50 L/mo | Lodha Group |
| K Raheja Vivarea | 3–4 BHK | ₹2.00–₹4.00 L/mo | K Raheja Corp |
| Godrej Avenue Eleven | 3–4 BHK | ₹2.50–₹4.50 L/mo | Godrej Properties |
| Prestige Jasdan Classic | 4–5 BHK | ₹3.50–₹6.00 L/mo | Prestige Estates |
| Racecourse-facing Heritage | 2–3 BHK | ₹1.00–₹2.00 L/mo | Various |
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What is the minimum rent in Mahalaxmi?
Older 2 BHK stock starts around ₹90,000–₹1 L/month. Branded new projects start around ₹2 L/month for 3 BHK.
Is Mahalaxmi good for families?
Excellent — Racecourse greenery, low density, top schools nearby (Campion, Cathedral). Dadar East/Central Railway is 2 km away for outstation connectivity.
How is Mahalaxmi different from Worli for rentals?
Mahalaxmi is quieter and more residential; Worli has more commercial activity nearby. Mahalaxmi rents 10–15% above Worli for comparable configurations due to the Racecourse premium.