Mumbai’s luxury residential market is witnessing sustained momentum, with 1,499 homes priced above Rs 5 crore registered during Q1 FY27, generating transactions worth Rs 14,903 crore, according to Lighthouse Luxury’s latest report.
The city recorded nearly 16 luxury home transactions every day between April and June, with the average ticket size standing at around Rs 9.9 crore. April led the quarter with 563 registrations worth Rs 5,726 crore, while June saw volumes recover to 501 transactions.
Sumesh Mishra, Founder, Lighthouse PropTech, said the continued pace reflects a structural shift in buyer preferences. “I believe it is a structural shift. Post-Covid, People are willing to pay higher premium for larger unit configuration and integrated lifestyle amenities with focus on privacy, security, and open green layouts.”
Worli continued to dominate Mumbai’s luxury housing market by transaction value, recording Rs 2,272 crore across 97 deals. However, redevelopment and improved infrastructure are driving growing demand in suburban markets such as Goregaon East and Borivali East.
“Redevelopment is giving developers the opportunity to create larger layouts and offer bigger apartments with amenities that cater to different age groups,” Mishra said. He added that modern redevelopment projects are increasingly offering parking, security, high-speed elevators, gyms, swimming pools and community facilities.
Mishra also highlighted the emergence of larger suburban developments, saying such projects are enabling buyers to upgrade their lifestyle without leaving established neighbourhoods. “Suburban markets are therefore beginning to offer a level of comfort and lifestyle that was traditionally associated with South Mumbai.”
The Rs 5-10 crore segment remains particularly strong, accounting for almost 80% of luxury apartment registrations during the quarter. According to Mishra, the buyer base is also changing, with professionals from banking, financial services, IT and startups increasingly entering the luxury housing market.
Looking ahead, he expects Nepean Sea Road and Breach Candy to witness significant transformation through redevelopment. Versova is another market to watch, with improved connectivity from the Coastal Road potentially narrowing the gap with premium locations such as Juhu, Bandra and Worli.
Mishra said, “The Coastal road has really bridged the divide between the SOBO (South Mumbai) and Bandra market. It will further reduce the gap between Versova and other up-market locations of Bandra or South Mumbai”
Source: Realty Plus
