Mahalaxmi · 09 Nov 2026
Raheja Modern Vivarea North: ₹1,25,000 a sq ft launch against ₹73,917 resale in Mahalaxmi
The launch asks 69% over resale in Mahalaxmi; 2,691 new homes are due there by 2031; 18 people asked us for a home there in 90 days.
Developer imageK Raheja Corp in Mahalaxmi
Raheja Modern Vivarea North is under construction, with possession Dec 2026. It is one of 10 new projects on our books in Mahalaxmi, where launches ask a median ₹87,047 a sq ft.
Time to pay in stages
An under-construction home is paid for against construction milestones, so most of the money goes in later. Once ready, a flat here would rent for about 2.4% a year of its launch price, going by today's rents.
69% over resale
Resale flats in Mahalaxmi ask a median ₹73,917 a sq ft. The launch rate is higher. Decide what the new construction, amenities and brand are worth to you.
The story
Raheja Modern Vivarea North is K Raheja Corp's project in Mahalaxmi, on our books at an indicative ₹1,25,000 a sq ft of carpet. Flats already standing in Mahalaxmi ask a median ₹73,917 a sq ft, across 462 resale listings with us in the last four months. A quarter earlier the median was ₹72,269.
So the launch asks 69% more than resale next door. Buyers pay that for a new building, new amenities, a developer's warranty and the time to pay in stages. A resale flat can be lived in or let out now; the new one cannot until possession.
Supply: how many homes are coming to Mahalaxmi
MahaRERA filings show 2,691 new homes in Mahalaxmi due for possession by 2031, across 13 registered projects. The peak year is 2027, with 1,158 homes.
Source: MahaRERA project filings, latest declared possession date, Mahalaxmi. Read 09 Nov 2026.
Demand: who is asking
In the last 90 days, 18 people came to Mumbai Property Exchange looking for a home in Mahalaxmi. 7 of them want to buy, and 5 want 3 BHK or larger. Set against 2,691 homes due over the coming years, that is the demand one firm sees; the market as a whole is larger.
Rent: what it earns
Mahalaxmi homes listed for rent with us in the last 12 months asked a median ₹245 per sq ft of carpet a month, across 341 listings. At the resale median that is a gross yield of about 4.0% a year, before maintenance, property tax and vacancy. At the launch rate it is about 2.4%.
Where it sits among Mahalaxmi launches
| Project | Developer | ₹ / sq ft* | Possession |
|---|---|---|---|
| Raheja Modern Vivarea North | K Raheja Corp | 1,25,000 | Dec 2026 |
| Raheja Modern Vivarea South | K Raheja Corp | 1,10,000 | Dec 2028 |
| The Imperial I | S D Corporation Pvt. Ltd. | 1,00,000 | Dec 2029 |
| Resale median | — | 73,917 | Ready |
*Indicative rates on Mumbai Property Exchange, may change 5–10%. Plus GST, stamp duty and registration.
Getting there
- Line 3 Aqua: 1.0 km away · Opened 2025
- Coastal Road (Phase 1): 1.3 km away · Opened 2024
- Line 11 Green: 1.7 km away · Approved
- Worli-Sewri Connector: 2.4 km away · Under construction · due 2026
Straight-line distance from the project's map point.
Raheja Modern Vivarea North, as the developer shows it
These images come from K Raheja Corp. Our own photos and films from the site will replace them after our visit.
Every launch has a brochure. We read the market around it.
The Real Launch Story is Sandeep Sadh's record of Mumbai's new launches. Each story sets the launch price against flats already for sale in the suburb, counts the homes MahaRERA says are coming, shows who is asking us for homes there and what they rent for. It is kept apart from our listings, and it is updated as the numbers move.
Resale, rents, demand, the MahaRERA pipeline and infrastructure, read from our data.
Our team walks the site, the sample flat and the street, and films on a phone.
Photos and films go up from the myipl app, dated and tagged to the project.
Sandeep adds his own take. The quoted take appears only when he has written it.
The story and its films go to WhatsApp, Instagram, LinkedIn and our press list.
- The MahaRERA registration of the exact phase and tower you buy in.
- The carpet area on the cost sheet against the MahaRERA filing.
- Whether the price is all-in or plus GST, stamp duty, registration and floor rise.
- The possession date written in the agreement, not only the brochure.
- How much is due before the agreement is registered.
- Whether any offer has a written end date.
Send it to someone looking in Mahalaxmi
Figures as read on 09 Nov 2026. Our launch rates are indicative and may change 5–10%. Resale rates and rents are medians of asking figures on Mumbai Property Exchange, not registered transactions. Confirm every figure with the developer and on MahaRERA before deciding. This is not an advertisement by the developer.
Talk to Sandeep
Journalists, investors and NRIs can reach Sandeep Sadh about this story or Mumbai's launch market. The data behind every chart is available on request.
