Exactly. In Mahabaleshwar you notice that when you visit say one location physically you actually cover 5-6 points on paper. For eg when you go to kates point, just walk 100 steps to left and 100 steps to the right side and you cover, elephant head, needle point and so on. Same with Ganesha temple/kings seat/Arthur seat so on.What's your budget? BTW I hope you know that both these are in opposite direction from Mumbai. Both places have numerous hotels to suit all kinds of budget.
I haven't visited Matheran but in Mahabaleshwar there is a Lake and a Valley. Just visit 1-2 points of the valley site seeing coz the valley is of "U" shape and they offer 7-10 stops for showing you the same valley![]()