Mumbai’s luxury home market reached an all-time high, achieving ₹12,300 crore in sales during the first half of 2024. This surge is attributed to the growing demand for upscale apartments, particularly in the Worli area, which alone contributed to over a third of these sales.
In comparison, the same period last year saw ₹11,400 crore worth of luxury homes (priced at rs 10 crore and above) being sold. According to a report by India Sotheby’s International Realty and CRE Matrix, approximately rs 3,500 crore of this year’s sales came from the resale market, representing a 38% increase from H1 2023.
While Worli in South Mumbai led the sales, there was also notable activity in Goregaon East, spurred by the Oberoi Elysian project. Other prominent areas included Mahalakshmi, Prabhadevi, Mumbai Central, Malabar Hill, Bandra West, Lower Parel, Tardeo, and Byculla.
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