Mumbai Housing Registrations See Slight Dip in August, But Maintain Strong YTD Growth: Nuvama
Despite a slight dip in August 2025 due to heavy rainfall, Mumbai's housing registrations remain at record highs year-to-date. Nuvama's latest report highlights robust demand and a positive outlook for the future.
Mumbai HousingNuvamaProperty MarketReal EstateLuxury HomesReal Estate MumbaiSep 03, 2025
Despite this moderation, August 2025 still ranks as the second-best August ever, both in terms of units and value, after August 2024. The average ticket size during the month stood at ₹14.8 million, down 2% YoY but flat on a sequential basis.
Residential properties continued to dominate demand, accounting for 80% of total registrations in August. Luxury homes priced above ₹50 million sustained their momentum, contributing 6% of registrations. Smaller apartments remained the most popular, with units under 1,000 sq. ft. making up 84% of the total. Units between 1,000–2,000 sq. ft. contributed 13%, while those above 2,000 sq. ft. comprised 3%.
Regionally, the western suburbs led demand with a 54% share, followed by the central suburbs at 32%. South and Central Mumbai accounted for 7% each, underscoring the consistent dominance of suburban markets.
Even with August’s weather-related disruption and broader geopolitical uncertainties, cumulative registrations in Mumbai for the year-to-date CY25 stood at 99,868 units—an all-time high and up 3% YoY. By value, registrations touched ₹1.5 trillion, up 11% YoY, with the average ticket size also rising 7% YoY to ₹14.8 million.
At the state level, Maharashtra reported a decline of 7% YoY and 14% MoM in registrations, with 126,106 units recorded in August.
Nuvama expects sales momentum in Mumbai to strengthen in the coming months, supported by a robust launch pipeline and likely mortgage rate cuts. This, it noted, would particularly benefit Mumbai-based developers such as Lodha, Oberoi, Godrej Properties, Sunteck, and Rustomjee.
The brokerage reiterated its broader sector thesis from its Real Estate – Leadership matters report, highlighting consolidation as the key theme in India’s property market. According to Nuvama, buoyancy in sales should sustain, driven by strong business development targets, improved cash flows aiding new launches, interest rate stabilisation, diversification, and rising market share of organised players.
Additionally, structural factors such as wage growth, rising employment opportunities, and the return-to-office trend are expected to further support housing demand.
Frequently Asked Questions
What caused the dip in housing registrations in Mumbai in August 2025?
The dip in housing registrations in Mumbai in August 2025 was primarily due to heavy rainfall, which impacted activity in the real estate sector.
How did the average ticket size for housing registrations in August 2025 compare to the previous year?
The average ticket size for housing registrations in August 2025 was ₹14.8 million, down 2% year-on-year but flat on a sequential basis.
Which segment of the housing market dominated demand in August 2025?
Residential properties dominated demand, accounting for 80% of total registrations in August 2025.
What is Nuvama's outlook for the Mumbai housing market in the coming months?
Nuvama expects sales momentum in Mumbai to strengthen in the coming months, supported by a robust launch pipeline and likely mortgage rate cuts.
What are the key factors expected to support housing demand in Mumbai?
Key factors expected to support housing demand in Mumbai include wage growth, rising employment opportunities, and the return-to-office trend.
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