Brand Makers
Priya Nair appointed new CEO and MD of Hindustan Unilever, replaces Rohit Jawa
Mumbai luxury housing sales jump 11% in H1 2025, touch ₹14,750 Cr
While Worli maintained its top position by transaction value, clocking ₹2,400 crore in sales despite a decline in units sold (from 60 to 32), Prabhadevi emerged as the most active locality in terms of volume with 56 units sold, up from 42 in H1 2024.
A total of 692 luxury units were sold between January and June 2025, amounting to ₹14,750 crore in sales — up from 622 units worth ₹12,300 crore in the same period last year.
Mumbai's luxury housing market has notched up record-breaking numbers in the first half of 2025, with apartment sales priced above ₹10 crore rising by 11% year-on-year, according to a joint report by India Sotheby’s International Realty and CRE Matrix.
A total of 692 luxury units were sold between January and June 2025, amounting to ₹14,750 crore in sales — up from 622 units worth ₹12,300 crore in the same period last year. The boom has been attributed to continued interest from high-net-worth individuals (HNIs) and affluent families upgrading their lifestyles, with 24% of buyers coming from beyond South Mumbai.
The segment’s bullish momentum was headlined by a landmark transaction in Worli. Leena Gandhi Tiwari, Chairperson of pharmaceutical company USV Ltd, acquired two sea-facing duplexes at Naman Xana for ₹639 crore. Including ₹63.9 crore in stamp duty and GST, the total deal value reached an unprecedented ₹703 crore, making it the costliest residential property deal in Indian history.
Other high-profile transactions include:
Shaula Real Estate Pvt Ltd, which bought units in the same Worli tower for ₹225.8 crore.
AEX Real Estate LLP, which purchased an apartment in Oberoi 360 West, Worli for ₹201.6 crore.
Seema Singh, wife of Alkem Labs promoter Mritunjay Kumar Singh, who acquired a premium residence at Lodha Sea Face for ₹185 crore.
Apco Infratech Pvt Ltd, which snapped up a triplex at The Legend by Ashar in Bandra West for ₹155 crore.
Worli Tops in Value, Prabhadevi in Volume
While Worli maintained its top position by transaction value, clocking ₹2,400 crore in sales despite a decline in units sold (from 60 to 32), Prabhadevi emerged as the most active locality in terms of volume with 56 units sold, up from 42 in H1 2024. Other top areas included Byculla (55 units), Tardeo (47), Bandra West and Goregaon East (44 each).
Interestingly, Bandra West recorded a staggering 192% jump in sales value, rising from ₹362 crore in H1 2024 to ₹1,057 crore in H1 2025, indicating a growing appetite for high-end suburban living.
The ₹10 crore-plus bracket accounted for 60% to 75% of total sales, with a significant chunk in the ₹10–20 crore (352 units) and ₹20–40 crore (114 units) ranges. Only 35 units were sold above ₹40 crore in H1 2025, a slight dip from 38 units in H1 2024.
There’s also a visible shift toward spacious residences, with homes larger than 4,000 sq ft contributing 36% of luxury primary sales by value, up nearly 14% from the previous year.
“Mumbai’s luxury real estate market is at a pivotal moment,” said Sudershan Sharma, Executive Director, India Sotheby’s International Realty. “Record sales in early 2025 show sustained interest in premium homes, especially in micro-markets like Worli, Prabhadevi, Tardeo, Malabar Hill, and Bandra West.”
He noted that better infrastructure and a surge in high-end project launches are attracting both seasoned and new wealthy buyers.
According to the UBS Billionaire Ambitions Report 2024, India now boasts 185 billionaires, more than double the number a decade ago. Their combined wealth stands at $905.6 billion, a 263% increase, adding fuel to the luxury property boom.
However, Sharma warned of a cautious outlook for the remainder of 2025 amid global uncertainties, including tariff concerns, geopolitical risks, and sluggish equity markets.
All-Time High in 12-Month Sales
According to Abhishek Kiran Gupta, Co-founder and CEO of CRE Matrix, luxury real estate sales in Mumbai reached a new milestone, with ₹28,750 crore in total sales over the past 12 months, including 1,335 units sold — the highest ever for any 12-month period.
“The steady rise, especially in the ₹20–40 crore segment, highlights a confident yet discerning luxury buyer,” Gupta said.
The report also underscores a lifestyle shift — 24% of buyers in top luxury localities now come from beyond South Mumbai, showing a readiness to relocate in pursuit of better amenities, infrastructure, and high-end living experiences.
With record-breaking deals, evolving preferences, and rising billionaire wealth, Mumbai’s luxury real estate segment appears firmly on an upward trajectory — albeit with a note of caution in an uncertain global environment.
SPOTLIGHT
The Storyboard18 Digital Entertainment Summit (DES) unpacked India's strategy for leading the digital entertainment economy, with top policymakers where they putlined how talent, technology, and governance would fuel future-ready growth.
Read MoreIn Photos: At DES 2025, India charts ambitious course for digital entertainment leadership
At the Storyboard18 Digital Entertainment Summit in New Delhi, policymakers and industry leaders outlined how talent, technology, and governance will drive India’s push to dominate the global entertainment economy.