Mumbai Real Estate 2026: Homebuyers Stand to Gain as Housing Launches Rise
Mumbai homebuyers may benefit as new housing launches rise and primary market sales slow, potentially triggering a price war among developers and leading to price stabilisation in 2026, say real estate experts.
Redevelopment momentum is likely to continue in 2026, with large societies tendering land and incentives supporting redevelopment. The entry of prominent developers from outside Mumbai will further boost supply and intensify competition at the high end, experts said.
In general, across the country, housing sales in the top seven Indian cities have dropped by 14% in 2025, to 3.95 lakh units, compared to 4.59 lakh units sold in 2024, according to a report released in December 2025 by Anarock, a real estate consultancy firm. The report attributes the drop in sales to the hardening of property prices, layoffs in the IT sector, geopolitical tensions, and other uncertainties that have been denting India's residential growth momentum in 2025.
In terms of the Mumbai Metropolitan Region (MMR) as a whole, the report stated that sales decreased by 18% in 2025 compared to 2024, with a total of 1,27,875 units sold. According to a report by data analytics firm PropEquity, housing sales in Mumbai declined by 25% in Q4 CY25, followed by Pune and Thane, which reported 31% and 26% declines in sales during the same period.
1) Redevelopment to Continue Across Categories in 2026
A redevelopment wave is expected to continue in 2026 in Mumbai and the MMR region as a whole. With sales falling, supply might soften, and acquisitions might slow down, but this will not impact the commencement of new redevelopment projects in 2026, say real estate experts.
Redevelopment momentum will continue in 2026 as large societies tender out land and incentives support redevelopment. The presence of brands from outside Mumbai will also deepen supply and sharpen competition at the top end, said Vivek Rathi, National Director- Research, Knight Frank India.
As many as 44,277 apartments worth ₹1.30 lakh crore are expected to enter Mumbai’s real estate market through the redevelopment segment by 2030, according to a report issued by Knight Frank India, a real estate consultancy, in September 2025. The free-sale component from society redevelopments is projected to generate around ₹7,830 crore in stamp duty and ₹6,525 crore in Goods and Services Tax (GST), the report said.
The report stated that the Borivali, Andheri, and Bandra micro-markets emerged as the top three redevelopment hotspots, collectively contributing over 139 acres of activity. According to the report, a total of 910 housing societies have signed development agreements (DAs) since 2020, unlocking nearly 326.8 acres (1.32 million sq m) of potential land area within the Mumbai limits, based on Floor Space Index (FSI) utilisation norms and average unit sizes across the regions.
2) Will the Mid-Segment Take Over from Luxury, or Will the Two Segments Co-Exist?
According to real estate developers, the value of luxury deals is expected to increase in 2026, both in terms of numbers; however, some softening in the market is anticipated, including in the mid-segment.
A developer from Bandra said, “It’s impossible to predict the market perfectly. However, one thing is certain: luxury apartment buyers will hold steady. The mid- and affordable segments are expected to offer a sweet deal in 2026. With sales declining, it will be interesting to see how fence-sitting homebuyers respond.”
3) Will the Demand for Sea-Facing and Sea-View Apartments Sustain?
Experts opine that apartments with a sea-facing view or a premium view, such as one of a forest or mangroves, will always be in demand and command a premium.
Take, for example, a bungalow for sale in Mumbai’s Juhu. Located on a 14,000 sq ft plot, it is listed at ₹250 crore. However, local brokers note that without the sea-facing premium, the price would have been significantly lower.
4) What Will Happen to Mumbai’s Bungalows?
According to experts, heritage bungalows and properties owned by high-net-worth joint families have been coming onto the market and are expected to continue doing so in 2026.
Bungalow owners currently in South Mumbai or in Worli, Bandra, and Juhu are holding due to the premiumness of the location and personal family reasons. However, with time, when the offers from developers become enticing enough, the bungalow owners eventually end up closing deals. Hence, there is not much of a different trend when it comes to bungalows, said Nayan Sanghavi, a real estate consultant from Mumbai's South Mumbai.
However, high-net-worth individuals and families who value privacy and prefer not to live in a typical housing society are likely to continue residing in bungalows. For instance, families on Peddar Road may not want to sell their bungalows for two reasons: they value privacy, and they can afford the bungalow lifestyle, said Sanghavi.
5) Will the Trend of New Launches Continue in 2026, and How Will Prices Move?
Apartment launches in Mumbai have slowed in recent times. According to a recent ANAROCK report, supply in the Mumbai Metropolitan Region (MMR) fell 6% in 2025 compared to 2024. Similarly, a PropEquity report noted a 16% decline in Q4 CY25.
Experts attribute the slowdown in MMR and Pune to stalled green clearances in 2025. However, supply is expected to pick up in the first half of 2026, which could trigger a price war, ultimately benefiting homebuyers.
The year 2026 is likely to be a year of price stabilisation, particularly in Mumbai’s western suburbs. With an expected surge in supply, competitive pressure among developers will increase, leading to more realistic pricing. This phase is likely to favour homebuyers, said Ritesh Mehta, Senior Director and Head (North and West), Residential Services and Developer Initiatives, JLL India.
