Mumbai’s ₹10 crore + luxury real estate market has set a new benchmark in the first half of 2025, recording the highest-ever half-yearly (H1 CY’25) sales of ₹14,750 crore across primary and secondary transactions of homes priced above ₹10 crore.
India Sotheby’s International Realty, India’s leading transaction and advisory firm for luxury homes, and data analytics firm CRE Matrix released their report on the luxury housing market for H1 CY’25 indicating an 11% increase in sales during H1 CY’25 compared to ₹12,300 crore in H1 CY’24.
The surge in luxury sales reflects strong momentum in residential demand, driven by rising wealth, investor confidence, and the growing purchasing power of high-net-worth individuals.
Key Findings:
- Strong Demand: Luxury home sales rose 11% in H1 2025 versus the same period in 2024, with the ₹20–40 crore segment growing by 138% compared to H1 2022.
- Market Composition: The primary market accounted for nearly three-quarters of sales volume, while the secondary market contributed ₹3,750 crore, both at their highest in five years.
- Top Performing Localities: Worli retained its lead as the most preferred luxury destination, contributing 22% of primary sales value. Other thriving micro-markets included Bandra West (192% growth), Tardeo (254% growth), Prabhadevi, and Malabar Hill.
- Buyer Profile: The 45–65-year age group remained the largest segment of buyers, while those above 65 years grew to 15% of sales.
- Larger Homes Favoured: Apartments between 2,000–4,000 sq. ft. dominated, representing 70% of primary sales.
Mr. Sudershan Sharma Executive Director India Sotheby's International Realty said, “Mumbai’s luxury real estate market is at a pivotal moment. Record sales in H1 2025 signal sustained appetite for ultra-premium homes, especially in established micro-markets like Worli, Prabhadevi, Tardeo, Malabar Hill, and Bandra West— driven by better infrastructure and a spate of high-quality new launches. This demand is buoyed by India’s expanding wealth base. The UBS Billionaire Ambitions Report 2024 notes India now has 185 billionaires, more than double the number a decade ago, with collective wealth rising 263% to US$ 905.6 billion. That said, with continued global uncertainty around tariffs, geo-political conflicts, and muted stock markets, the outlook for the remainder of 2025, while still positive, is expected to be more cautious and selective”
Mr. Abhishek Kiran Gupta, Co-founder & CEO, CRE Matrix added, “Mumbai’s luxury real estate market hit a new high in H1 CY’25, clocking ₹14,750 Cr. in sales. Combined with H2 CY’24, total sales over the past 12 months touched ₹28,750 Cr.—an all-time record. During this period, 1,335 luxury units were sold, the highest for any 12-month stretch. The steady rise, particularly in the ₹20–40 Cr. segment, points to sustained buyer interest and a confident, though increasingly selective, high-end luxury buyer."
The report indicates that this remarkable performance in the high-end segment mirrors a broader bullish trend observed in the overall residential property market. With the market showing resilience and continuous growth, the outlook remains positive.
Other Key Highlights
- 24% Buyers from the top 10 localities for luxury housing in Mumbai have their origins in localities situated beyond South Mumbai. This implies an upgrade of lifestyle and non-stickiness to their original locality.
- 7% Goregaon East accounted for the highest proportion of homebuyers, amongst the top 10 localities, originating for luxury home purchases.
- ₹40 Cr+ homes register sharpest rise, tripling from 17 units in H1 CY’22 to 53 in H2 CY’24
Noteworthy Transactions
- Rs 639 crore by Leena Gandhi Tiwari at Naman Xana, Worli
- Rs 225.8 crore by Shaula Real Estate Pvt Ltd at Naman Xana, Worli
- Rs 201.6 crore by AEX Real Estate LLP at Oberoi 360 West, Worli
- Rs 185 crore by Seema Singh at Lodha Sea Face, Worli
- Rs 155 crore by Apco Infratech Pvt Ltd at The Legend by Ashar, Bandra West
Upcoming Luxury Projects to Watch-out For
- The West Park by DLF, Andheri West
- Sunteck Nepean Sea, Nepean Sea Road
- Prestige Nautilus, Worli
- Rustomjee Crescent, Bandra West
Mumbai’s luxury housing market continues to demonstrate resilience and depth, with record sales volumes and growing interest across premium micro-markets. The surge in high-value transactions reflects both rising domestic wealth and investor confidence. As demand remains strong but increasingly selective, the second half of 2025 is expected to build on this momentum with a focus on quality, location, and long-term value.
