The Mumbai property market has established a remarkable performance in the first half of 2025, marking the highest level of activity in more than 10 years. With solid performance in both transactions and revenue, the Mumbai real estate sector is in a robust position to overcome distribution issues that are affecting many markets today. The current re-emerging trend reflects a shift in end-user demand, driven by continual and changing lifestyle preferences, as well as investment in infrastructure, which is leading to an increase in premium and high-value property registrations in Mumbai.
Mumbai’s Dynamic Shift in Property Registrations
Mumbai registered 11,586 property transactions in June 2025, marking a marginal 1 percent dip compared to 11,673 units in June 2024, according to data from the Department of Registrations and Stamps (IGR), Maharashtra. Despite a slight decline in volume, registration revenue increased by 2 percent year-over-year to Rs. 1,031 crore.
The first half of 2025 (January–June) recorded 75,982 property registrations — a 5 percent increase over the same period last year — generating Rs. 6,727 crore in revenue, up 15 percent YoY. Both figures represent the strongest half-yearly performance since 2013, as per Knight Frank India analysis.
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June 2025 also witnessed a notable uptick in demand for high-value homes. Properties priced above Rs. 5 crore accounted for 6 percent of total registrations, up from 5 percent a year ago. In contrast, the Rs. 1–5 crore segments saw a decline in their share, the Knight Frank analysis showed.
Geographically, Mumbai’s residential momentum remained anchored in the Western and Central Suburbs, which together contributed 88 percent of total registrations, up from 86 percent last year. The Western Suburbs led with a 57 percent share, followed by 31 percent from the Central Suburbs. Meanwhile, South Mumbai’s share declined to 6 percent, indicating subdued activity in the city’s prime locales.
Experts suggest that Mumbai’s residential market continues to be driven by end-user demand, rising income levels, and a growing appetite for lifestyle upgrades, particularly in well-connected and amenity-rich suburban hubs.
“Mumbai’s performance in the first half of 2025 reflects the market's resilience and the underlying strength of real estate demand. Despite a marginal year-on-year dip in June registrations, the 5 percent growth in H1 volumes and a notable 15 percent rise in revenue collection highlight both sustained end-user interest and movement in higher-ticket-size segments. The preference for Western and Central suburbs reiterates the role of infrastructure-led development and better connectivity in driving homebuyer sentiment. Going forward, continued policy support and timely project completions will be crucial to maintain this momentum.”
“The Mumbai market has once again demonstrated its robustness, with the first half of 2025 registering the strongest performance in over a decade. The increased revenue and volume growth are positive indicators of sustained buyer confidence. The slight moderation in June is a healthy sign of market stability and reflects typical seasonal trends. What’s particularly encouraging is the increasing activity in high-value transactions, which bodes well for luxury and premium housing segments, especially in emerging growth corridors.”
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“The latest data underlines how Mumbai’s real estate market is evolving into a more mature and segmented ecosystem. The rise in high-ticket registrations signals wealth creation and a strong appetite for aspirational living. While the mid-market segment has seen a slight dip, it still holds immense potential, especially with the right mix of government incentives and product innovation. The dominance of the Western and Central Suburbs reflects a continued shift in demand hubs, driven by lifestyle preferences and connectivity enhancements.”
“The real estate landscape in Mumbai is witnessing a shift towards more premium housing, as seen from the growing share of registrations in the Rs 5 crore-plus category. This indicates a maturing market where buyers are prioritising lifestyle, amenities, and future-ready infrastructure. The increased traction in the Western Suburbs aligns with this trend, as these locations offer a strong mix of quality developments and urban convenience. Despite economic headwinds, the market has displayed a remarkable ability to adapt, evolve, and grow.”
Ultimately, Mumbai's property market has achieved an unprecedented milestone in H1 2025, illustrating a notable buyer confidence and demand shift towards premium properties. Forecasting a similar growth trajectory, the city's real estate sector remains poised for success due to real estate development infrastructure and changing consumer preferences.
Frequently asked questions
What’s causing the growth in Mumbai’s real estate market in H1 2025?
The growth of Mumbai’s property market is being fueled by a strong end-user demand, incomes on the rise, and an uptick in the purchase of premium properties, primarily with a focus on well-connected suburban locations.
Why is the demand for high-value homes in Mumbai on the rise?
The demand for high-value homes has surged in the past year, as buyers have growing confidence in the market, there is an expansion of buyer interest for luxury living, and there is growing infrastructure in suburban hubs.
Which areas in Mumbai are seeing the most property registrations?
The previous year, we found that the Western and Central Suburbs of Mumbai continued to dominate, accounting for 88 percent of total registrations with the share of sales from South Mumbai declining.
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