Mumbai’s real estate market continues to demonstrate resilience despite a recent slowdown in project launches, with industry experts attributing the dip to regulatory delays rather than weakening demand.
In a conversation with ETRealty, Dhaval Ajmera and Dominic Romell said that the pace of new launches has been affected by policy-related developments. However, they emphasised that buyer interest remains steady, indicating that the market’s fundamentals are intact.
Developers pointed out that redevelopment remains a major growth engine for Mumbai, drawing interest from players across the country. At the same time, large-scale infrastructure projects—including metro network expansion, coastal road development and the Atal Setu—are significantly improving connectivity and reinforcing the city’s attractiveness as a real estate hub.
Ajmera noted that increased participation from developers is expected to enhance overall project quality and bring greater organisation to the sector. Romell added that despite rising interest from national players, local partnerships continue to be crucial for navigating Mumbai’s complex regulatory and operational environment.
Addressing concerns around pricing, developers said the presence of well-funded players is unlikely to disrupt the market significantly, as project feasibility continues to depend on financial viability and compliance costs.
The premium housing segment, they observed, has performed particularly well in recent years, supported by rising incomes and evolving buyer preferences following the pandemic. However, the limited availability of affordable housing remains a concern, largely due to regulatory definitions based on property value rather than apartment size.
While short-term fluctuations may occur due to policy or macroeconomic factors, developers believe Mumbai’s long-term housing demand remains strong, driven by ongoing urbanisation and its role as India’s financial capital.
Source: ET Realty
