Mumbai Luxury Housing Market Surges: ₹3,815 Cr Deals in Q1 FY27

Mumbai’s luxury residential market recorded nearly ₹3,815 crore in registered transactions across 10 select buildings during the April-June quarter. These high-end properties, priced at ₹5 crore and above, significantly drove the sector.

The broader Mumbai market saw 1,499 registrations, totaling ₹14,903 crore in the first quarter of fiscal year 2027, according to data from Lighthouse Luxury and Zapkey, based on Maharashtra IGR records. This indicates robust activity beyond the top projects.

Top Project Performance Details

Godrej Trilogy Seafront led the market, securing 37 deals worth ₹799 crore, with an average ticket size of ₹21.6 crore. This single project alone contributed 5.4% to Mumbai’s entire ₹5 crore-plus residential market during the quarter.

• Oberoi Elysian: 35 registrations, ₹488 crore, average ticket size ₹13.9 crore.
• 25 Downtown: 16 registrations, ₹452 crore, average ticket size ₹28.2 crore.
• K Raheja Vivarea: 37 deals, ₹417 crore, averaging ₹11.3 crore.
• Rustomjee Crown: 25 deals, ₹326 crore, average ticket size ₹13 crore.
• Naman Xana: 2 registrations, ₹294 crore, with an exceptional average ticket size of ₹147.1 crore.
• Oberoi Sky City: Highest transaction count among top 10 with 42 deals, at an average of ₹6.8 crore.

Shifting Market Dynamics

The market observed a slight compression in the average ticket size, falling from ₹10.3 crore in May to ₹9.4 crore in June, even as transaction volumes increased. This suggests growth in the entry-level luxury segment, extending into suburban areas.

• Godrej Properties: Led developers with ₹1,304 crore across 110 registrations.
• Lodha Developers: Followed with ₹889 crore from 92 registrations.
• Oberoi Realty: Accounted for ₹633 crore from 81 registrations.
• Prestige Group: Achieved the highest average ticket size among top developers (excluding Naman Xana) at ₹26.6 crore from 20 transactions.
• Overall: Top 10 developers contributed ₹5,614 crore, representing 37.7% of Mumbai’s total ₹5 crore-plus residential transaction value for the quarter.
• Suburban Growth: Goregaon East recorded ₹552 crore, Borivali East ₹292 crore, and Kandivali East saw 44 deals in the ₹5 crore-plus market.

Key Luxury Locales

Worli remained the epicenter of Mumbai’s luxury property market, registering 97 deals valued at ₹2,272 crore, with an average ticket size of ₹23.4 crore. This average is more than double the city’s overall average for ₹5 crore-plus transactions.

• Worli’s transaction count: Surpassed the combined total of Lower Parel (81 deals, ₹769 crore) and Bandra West (54 deals, ₹575 crore).
• Andheri West: Contributed ₹425 crore to the expanding luxury market.

The continued expansion of luxury housing into suburban corridors, alongside sustained activity in premium central locations, underscores a dynamic and evolving high-end residential segment in Mumbai. This trend reflects a broad-based demand for aspirational properties.