Luxury Living Booms in Mumbai with ₹28,750 Cr in Annual Sales

Mumbai’s ultra-luxury housing market has hit a historic high, with homes priced above ₹10 crore clocking sales of Rs 28,750 crore across 1,335 units between H2 CY2024 and H1 CY2025, as per a report by India Sotheby’s International Realty and a leading real estate research firm.

The first half of 2025 alone saw Rs 14,750 crore worth of sales—marking the highest-ever six-month performance for this premium segment. Demand has been fuelled high-net-worth individuals (HNIs), growing investor confidence, and a clear shift towards larger, high-spec homes in prime locations.

The primary market led the charge with a 75% share, while the secondary market contributed ₹3,750 crore. Homes ranging between 2,000–4,000 sq. ft. made up nearly 70% of all transactions, showing a preference for expansive living spaces.

Worli, with 22% of all primary sales, took the lead, hosting the city’s biggest deal: a Rs 639 crore transaction by Leena Gandhi Tiwari at Naman Xana. Bandra West and Tardeo posted explosive growth of 192% and 254% YoY, respectively, while Malabar Hill and Prabhadevi remained strongholds for legacy buyers.

Rs 10–20 crore homes were the most sought after, comprising 60–75% of total sales. Notably, Rs 20–40 crore properties jumped 138% from H1 CY2022, and homes priced above Rs 40 crore tripled in volume, rising from 17 units in H1 CY2022 to 53 in H2 CY2024.

Upcoming luxury projects such as DLF’s The West Park, Sunteck’s Nepean Sea, Prestige Nautilus, and Rustomjee Crescent are expected to meet the rising demand.

With India now home to 185 billionaires and their wealth growing 263% in a decade, Mumbai’s high-end housing market is mirroring this upward curve—despite a cautiously optimistic view for H2 2025 amid global uncertainties.

“Mumbai’s luxury real estate market is at a pivotal moment. The record-breaking sales in the first half of 2025 reflect not just a passing trend, but a sustained and growing appetite for ultra-premium residences among affluent buyers. We’re witnessing a strong preference for larger, well-appointed homes in prime micro-markets such as Worli, Bandra, and Tardeo, which continue to lead the demand. This surge is being driven by high-net-worth individuals who are looking for legacy assets, lifestyle upgrades, and long-term investments in stable, high-value locations. The momentum we’re seeing is a testament to the resilience and appeal of Mumbai’s top-end housing segment.”
— Sudarshan Sharma, Executive Director, India Sotheby’s International Realty