Mumbai luxury residential market saw a notable increase in unsold inventory in Q1 2025, reversing a multi-year downward trend.
According to data from ANAROCK, unsold luxury housing units (priced above ₹2.5 crore) rose by 36% year-on-year, from around 6,180 units in Q1 2024 to 8,420 units at the end of Q1 2025. This is the first annual increase in luxury inventory since 2022.
This trend in Mumbai luxury residential market is largely attributed to a substantial influx of new supply in the luxury segment. In 2024, Mumbai Metropolitan Region (MMR) witnessed the launch of 16,480 new units priced above ₹2.5 crore, with another 5,294 units added in Q1 2025 alone.
Mumbai Luxury Residential Market: Abundant Supply, Demand Stable
“The sharp rise in unsold inventory is a direct outcome of abundant new supply. While the demand for luxury homes remains stable, the steep price appreciation and global economic headwinds have impacted sales velocity,” said Anuj Puri, Chairman – ANAROCK Group.
Despite this, property registration data for Mumbai remains robust. The city recorded 64,461 property registrations between January and May 2025, up 6% from 60,818 during the same period in 2024. Revenue collection during this five-month span hit a record ₹5,695 crore, representing a 17% YoY increase.
March 2025 Boosted Momentum
A significant driver of this uptick was the surge in registrations in March 2025, which saw 15,501 properties registered following the announcement of a 3.9% hike in Maharashtra’s ready reckoner rates for FY26.
The revenue collected in March alone was over ₹1,589 crore, the highest in the past three years.
May 2025 also performed strongly with 11,562 registrations, the second-highest May performance since 2019, just behind May 2024’s 11,999 registrations.
High-Value Home Sales Dominate
The average ticket size of homes sold between January and May 2025 stood at ₹1.59 crore – the highest in seven years. In contrast, the average home price during the same period in 2021 was just ₹1.02 crore, indicating a shift toward high-value residential sales in Mumbai.
Despite a 28% dip in overall sales to 21,930 units in Q1 2025 compared to Q1 2024, the sustained registration numbers and rising ticket sizes confirm strong end-user and investor interest in high-end Mumbai luxury residential market.
