Mumbai’s luxury residential market maintained strong momentum in the first quarter of FY27, with 1,499 homes priced at Rs 5 crore and above registered between April and June 2026, according to a report by Lighthouse Luxury and Zapkey.
Based on verified Maharashtra stamp duty and registration data, these transactions had a combined value of Rs 14,903 crore. This translates to roughly 16 luxury homes being registered every day, with daily transaction value averaging around Rs 164 crore.
April recorded the strongest performance of the quarter, with 563 registrations worth Rs 5,726 crore. In May, transactions declined 22.7% month-on-month to 435, although the average ticket size remained at Rs 10.3 crore. June witnessed a 15% recovery in transaction volumes, reaching 501 deals, while total transaction value stood at Rs 4,686 crore. The average ticket size declined to Rs 9.4 crore, indicating increased activity in the Rs 5-10 crore segment.
Worli continued to dominate Mumbai’s luxury housing market, recording 97 transactions worth Rs 2,272 crore, with an average deal size of Rs 23.4 crore. Lower Parel followed with 81 transactions worth Rs 769 crore, while Bandra West registered 54 deals valued at Rs 575 crore.
Suburban locations also gained traction. Goregaon East recorded 46 transactions worth Rs 552 crore, followed by Andheri West with 60 deals worth Rs 425 crore. Vile Parle West and Santacruz West recorded 45 and 44 transactions, respectively.
Among developers, Godrej Properties led the rankings with Rs 1,304 crore across 110 registrations. Godrej Trilogy in Worli contributed 37 transactions worth Rs 799 crore. Oberoi Realty followed with Rs 889 crore from 92 deals.
Lodha, Hubtown and K Raheja Corp also recorded significant transaction values during the quarter.
The report noted that Rs 50 crore-plus transactions remained relatively subdued in June, while the Rs 5-10 crore category continued to attract buyers. This suggests that Mumbai’s luxury housing market is being supported by a broader affluent buyer base rather than only ultra-high-net-worth purchasers.
The data also points to luxury housing expanding beyond traditional premium neighbourhoods, with redevelopment corridors such as Goregaon East and Borivali East gaining prominence. Improved connectivity, larger homes and modern amenities are contributing to this shift.
According to the report, the sustained pace of transactions indicates that affluent buyers increasingly view premium residential property as a wealth-preservation asset rather than simply a cyclical investment.
Source: Business Standard
