Mumbai luxury housing sees 16 homes sold every day at ₹5 cr-plus in Q1 FY27 | Personal Finance

Mumbai’s luxury housing market is showing little sign of slowing, with around 16 homes priced at ₹5 crore or more getting registered every day during the first quarter of FY27, according to a report by Lighthouse Luxury and Zapkey.

The city recorded 1,499 luxury residential registrations worth ₹14,903 crore between April and June 2026, based on verified Maharashtra stamp duty and registration data. That translates into an average of about ₹164 crore worth of luxury residential transactions every day during the quarter.

The data suggests that Mumbai’s luxury market is being driven by a steady stream of transactions rather than a handful of exceptionally large deals.

April leads, June sees demand shift towards ₹5-10 crore homes

The quarter began strongly, with 563 registrations worth ₹5,726 crore in April, the highest monthly value recorded during the period.

Transaction volumes fell 22.7% month-on-month in May, to 435 registrations worth ₹4,492 crore. However, the average ticket size remained relatively firm at ₹10.3 crore.

June saw a recovery in volumes, with registrations rising 15% from May to 501. Total transaction value, however, was lower at ₹4,686 crore, taking the average ticket size down to ₹9.4 crore.

According to the report, this points to greater activity in the ₹5 crore-₹10 crore segment, or the entry-level end of Mumbai’s luxury housing market.

Murtuza Vapiwala, Co-Founder, Lighthouse PropTech, said the ₹5 crore-₹10 crore segment remained resilient even as ultra-high-value transactions of ₹50 crore and above saw a quieter period in June.

Worli remains Mumbai’s luxury hotspot

Worli remained the biggest luxury residential market by value, generating ₹2,272 crore through 97 transactions during the quarter. Its average transaction value was ₹23.4 crore.

Lower Parel followed with 81 transactions worth ₹769 crore, translating into an average ticket size of ₹9.5 crore.

Bandra West recorded 54 transactions worth ₹575 crore, with an average ticket size of ₹10.6 crore.

But the luxury market is no longer restricted to Mumbai’s traditional premium neighbourhoods.

Goregaon East recorded 46 transactions worth ₹552 crore, while Andheri West registered 60 deals worth ₹425 crore. Vile Parle West recorded 45 transactions worth ₹413 crore and Santacruz West 44 transactions worth ₹364 crore.

The emergence of these suburban locations suggests that Mumbai’s definition of luxury housing is expanding, with newer projects offering larger homes, gated amenities and improved connectivity.

Sumesh Mishra, Founder, Lighthouse PropTech, said the strong activity in suburban redevelopment corridors such as Goregaon East and Borivali East showed that luxury was expanding beyond traditional South and Central Mumbai markets.

Godrej Properties leads developer rankings

Among developers, Godrej Properties led the quarter, recording ₹1,304 crore across 110 luxury registrations.

A major contributor was Godrej Trilogy in Worli, which alone accounted for 37 transactions worth ₹799 crore.

Oberoi Realty ranked second, with ₹889 crore across 92 registrations, supported by Oberoi Sky City in Borivali East and Oberoi Elysian in Goregaon East.

Other major developers included Lodha (Macrotech Developers), with ₹633 crore across 81 transactions; Hubtown, with ₹531 crore across 20 transactions; and K Raheja Corp, with ₹509 crore across 49 transactions.

The numbers highlight the growing role of branded developers in Mumbai’s luxury housing market, particularly as buyers increasingly seek large integrated developments rather than standalone residences.

₹50 crore-plus deals take a back seat

While the overall market remained active, the quarter did not see the same momentum at the very top end.

The report noted a relatively quiet June for ₹50 crore-plus transactions, even as the ₹5 crore-₹10 crore segment continued to generate volumes.

This distinction is important for understanding Mumbai’s luxury market. The headline numbers are not being driven entirely by ultra-high-net-worth buyers making ₹50 crore-plus purchases. A broader pool of affluent buyers is now participating in the ₹5 crore-₹10 crore segment.

Luxury real estate as wealth preservation

According to Mishra, the pace of around 16 luxury home registrations a day indicates that HNI and UHNI buyers increasingly view premium residential property as a wealth-preservation asset, rather than merely a cyclical investment.

The transaction data also provides a different picture from asking prices or developer launches. The report is based on registered transactions derived from Maharashtra government stamp duty and registration records, giving a view of actual transactions rather than advertised prices.

Sandeep Reddy, Co-Founder, Zapkey, said the ₹14,903 crore of verified transactions recorded over 90 days demonstrated the underlying end-user and investor appetite for Mumbai real estate.  ” The new launches by branded players are witnessing great responses from the buyers. The transaction pace of 16 luxury homes a day shows that HNI and UHNI buyers no longer view premium real estate purely as a cyclical asset class, but as a core wealth preservation strategy. Furthermore, the strong momentum in suburban redevelopment corridors like Goregaon East and Borivali East proves that luxury in Mumbai is geographically expanding beyond traditional South and Central micro-markets, driven by modern gated amenities and improved transit infrastructure,” said Sumesh Mishra, Founder, Lighthouse PropTech.

Celebrity deals add to the luxury market activity

The quarter also saw several high-profile luxury rentals.

Cricketer Shreyas Iyer leased a residence at K Raheja Artesia in Worli for ₹19.83 lakh a month, with a security deposit of ₹74 lakh.

Actor Siddharth Malhotra leased a residence at Nair House in Khar West for ₹11 lakh a month, paying a ₹33 lakh security deposit.

The highest-value lease cited in Mumbai was a ₹29.42 lakh luxury apartment lease at Shandilya Villa in Worli, involving Alkem Laboratories promoter Mrityunjay Kumar Singh.

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  Mumbai recorded 1,499 luxury residential transactions priced above ₹5 Crore between April and June 2026.
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  Average ticket size across Mumbai’s luxury sector moderated to ₹9.9 Crore, while total transaction value peaked in April at ₹5,726 Crore.
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  Godrej Properties leads developer performance with ₹799 Crore in total luxury sales, backed by strong momentum in Godrej Trilogy, Worli.
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  Redevelopment hubs like Goregaon East and Borivali East enter the top micro-markets by transaction value.
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  April set the quarterly high with 563 registrations worth ₹5,726 Crore.
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  May witnessed a 22.7% volume dip to 435 registrations (worth ₹4,492 Crore), though average ticket sizes held firm at ₹10.3 Crore.
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  Worli retained its position as Mumbai’s highest-value luxury destination, generating ₹2,272 Crore across 97 deals (Average ticket size: ₹23.4 Crore).