Latest Answer: The city of Mumbai is frightfully expensive and real estate options within the boundaries of the city would most likely be more than your budget. However, with your budget you could find some very viable real estate options in the Mumbai region like Virar, Vasai, Mira Road, Boisar etc. It is important that you invest your money not just in a good locality but also in a good project with a builder that you can trust. A friend of mine recently told me that he invested in the Happinest project by Mahindra Lifespaces. The project is located in Boisar and offers a wide range of 1BHK and 2BHK apartments. It falls perfectly within your budget as well. Definitely looks like a viable option since it is affordable but also comes with the Mahindra brand assurance that there will be no compromise on quality of the project. Boisar is a part of newly carved out Palghar District. Boisar is fast developing into a residential hub due to its already developed physical & social infrastructure.