Mumbai's luxury residential market has hit a record high, with homes priced above Rs 10 crore recording their highest-ever half-yearly sales of Rs 14,750 crore in the first half of 2025, up 11 percent year-on-year.
According to data from India Sotheby’s International Realty, a luxury real estate consultancy firm, and data analytics firm CRE Matrix, Worli retained its lead as the most preferred luxury destination, contributing 22 percent of primary sales value. Other thriving micro-markets included Bandra West (192 percent growth), Tardeo (254 percent growth), Prabhadevi, and Malabar Hill. Homes priced above Rs 40 crore registered sharpest rise, tripling from 17 units in H1 CY’22 to 53 in H2 CY’24.
Worli is a prominent sea facing area is often referred as India’s Billionaire’s Row as it is home to India’s top billionaires, business tycoons and celebrities such as Ajay Piramal, Hemendra Kothari, Shreegopal Kabra, Uday Kotak, Leena Gandhi Tewari, among others.
When it comes to the purchase of ultra-luxury homes, the buyers in the 45–65-year age group remained the largest segment. Apartments measuring between 2,000 and 4,000 square foot dominated, representing 70 percent of primary sales.
The data from the report, which was released on July 22, showed that the sales figure of Rs 14,750 crore, encompassing both primary and secondary transactions, marks a significant 11 percent increase compared to the Rs 12,300 crore registered in H1 2024.
Market observers said that this surge in luxury sales underscores the robust momentum in residential demand. Rising wealth, strong investor confidence, and the growing purchasing power of high-net-worth individuals in the region are driving such high-end homes sales.
Sudershan Sharma, Executive Director, India Sotheby's International Realty said that 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 percent to $ 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,” he said.
The report showed that 24 percent 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. Nearly 7 percent Goregaon East accounted for the highest proportion of homebuyers, amongst the top 10 localities, originating for luxury home purchases.
Big-ticket deals in Mumbai
Some of the noteworthy property transactions in Mumbai include duplex apartments worth Rs 639 crore by Leena Gandhi Tiwari at Naman Xana building in Worli. This was India’s most expensive residential property deal in 2025.
It was followed by Rs 225.8 crore residential property purchase by Shaula Real Estate Pvt Ltd, a subsidiary of Godrej Industries, at Naman Xana in Worli.
In another high profile property deal, AEX Real Estate LLP had bought apartments at Oberoi 360 West in Worli for Rs 201.6 crore.
Another notable real estate deal included the sale of Bollywood actor Late Dilip Kumar’s iconic bungalow in Bandra, Mumbai. The luxurious bunglow, covering 9,527.21 square feet, was sold for Rs 155 crore to Apco Infratech Private Limited.
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