Mumbai’s ₹10 crore + luxury real estate market has set a new benchmark in the first half of 2025, recording the highest-ever half-yearly (H1 CY’25) sales of ₹14,750 crore across primary and secondary transactions of homes priced above ₹10 crore.
India Sotheby’s International Realty, India’s leading transaction and advisory firm for luxury homes, and data analytics firm CRE Matrix released their report on the luxury housing market for H1 CY’25 indicating an 11% increase in sales during H1 CY’25 compared to ₹12,300 crore in H1 CY’24.
The surge in luxury sales reflects strong momentum in residential demand, driven by rising wealth, investor confidence, and the growing purchasing power of high-net-worth individuals.
Key Findings:
- Strong Demand: Luxury home sales rose 11% in H1 2025 versus the same period in 2024, with the ₹20–40 crore segment growing by 138% compared to H1 2022.
- Market Composition: The primary market accounted for nearly three-quarters of sales volume, while the secondary market contributed ₹3,750 crore, both at their highest in five years.
- Top Performing Localities: Worli retained its lead as the most preferred luxury destination, contributing 22% of primary sales value. Other thriving micro-markets included Bandra West (192% growth), Tardeo (254% growth), Prabhadevi, and Malabar Hill.
- Buyer Profile: The 45–65-year age group remained the largest segment of buyers, while those above 65 years grew to 15% of sales.
- Larger Homes Favoured: Apartments between 2,000–4,000 sq. ft. dominated, representing 70% of primary sales.
Sudershan Sharma Executive Director India Sotheby's International Realty said, “Mumbai’s luxury real estate market is at a pivotal moment. 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% to US$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”
Abhishek Kiran Gupta, Co-founder & CEO, CRE Matrix added, “Mumbai’s luxury real estate market hit a new high in H1 CY’25, clocking ₹14,750 Cr. in sales. Combined with H2 CY’24, total sales over the past 12 months touched ₹28,750 Cr.—an all-time record. During this period, 1,335 luxury units were sold, the highest for any 12-month stretch. The steady rise, particularly in the ₹20–40 Cr. segment, points to sustained buyer interest and a confident, though increasingly selective, high-end luxury buyer."
The report indicates thatthis remarkable performance in the high-end segment mirrors a broader bullish trend observed in the overall residential property market. With the market showing resilience and continuous growth, the outlook remains positive.
Other Key Highlights
- 24% 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 and non-stickiness to their original locality.
- 7% Goregaon East accounted for the highest proportion of homebuyers, amongst the top 10 localities, originating for luxury home purchases.
- ₹40 Cr+ homes register sharpest rise, tripling from 17 units in H1 CY’22 to 53 in H2 CY’24
Noteworthy Transactions
- Rs 639 crore by Leena Gandhi Tiwari at Naman Xana, Worli
- Rs 225.8 crore by Shaula Real Estate Pvt Ltdat Naman Xana, Worli
- Rs 201.6 crore by AEX Real Estate LLP at Oberoi 360 West, Worli
- Rs 185 crore by Seema Singh at Lodha Sea Face, Worli
- Rs 155 crore by Apco Infratech Pvt Ltd at The Legend by Ashar, Bandra West
Upcoming Luxury Projects to Watch-out For
- The West Park by DLF, Andheri West
- Sunteck Nepean Sea, Nepean Sea Road
- Prestige Nautilus, Worli
- Rustomjee Crescent, Bandra West
Born from the rich heritage of Sotheby’s Auction House, Sotheby’s International Realty(SIR) is an iconic global brand, with a legacy of quality service and unmatchedexpertise. The SIR network is present in 84 countries and territories with 1,100 officesand 26,100 sales associates, achieving a transaction high volume of USD 157 Billion in2024. The brand has established its presence in top cities across India viz. New Delhi,Mumbai, Kolkata, Bangalore and Goa. The India team comprises seasoned privatebankers and specialists from real estate, hospitality, and luxury sectors, combining deeplocal and international expertise, that earns them the trust of a discerning clientele. OurIndia residential portfolio features a curated selection of luxury properties, includingfarmhouses, villas, bungalows, holiday homes, penthouses, and apartments. Throughour international desk, we connect clients to premier global addresses in gateway citiessuch as New York, Miami, London and Dubai amongst others.
About CRE Matrix
India’s most trusted source for complete real estate intelligence, CRE Matrix has developed proprietary algorithms that relentlessly provide up-to-date information and enable deep data analytics across sectors and geographies. CRE Matrix’s clients include some of the largest real estate developers, coworking players, retailers, property consultants and financial institutions.
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