Mumbai Real Estate Market Sees YoY Drop in Units, 17% Surge in Value
Central and western suburbs account for 87% of property registrations in May, leading Mumbai's residential real estate market despite a year-on-year decline in units.
Mumbai Real EstateProperty RegistrationsHousing MarketReal Estate TrendsPremium PropertyReal EstateJun 03, 2025
Mumbai witnessed a 4 per cent year-on-year (YoY) decline in housing registrations in May 2025, according to a report by Nuvama Research. The number of registered housing units fell to 11,565, reflecting a 12 per cent drop month-on-month (MoM) as well. Despite the decline in unit registrations, the total value of these registrations rose 3 per cent YoY to ₹177 billion. However, the value fell 5 per cent on a monthly basis. Analysts are closely watching the registration trends as they indicate a shift in buyer behavior amid changing market dynamics and project offerings in Mumbai.
Year-to-Date Registrations Rise 6% In Mumbai
From January to May 2025, Mumbai recorded 61,461 housing unit registrations—6 per cent higher than the same period last year. By value, registrations grew 17 per cent YoY to ₹949 billion, supported by an increase in average ticket size. The average property value registered in this period stood at ₹14.7 million, up 11 per cent YoY. The consistent rise in value points to strong demand in higher-value property segments, especially in premium areas. This growth in year-to-date performance contrasts with May’s dip, suggesting a resilient overall market despite monthly fluctuations.
Compact Homes Dominate; Larger Homes See Uptick
The Nuvama report highlighted that 80 per cent of the registered properties in May were residential. Compact homes under 1,000 square feet dominated the market, with units between 500 and 1,000 square feet accounting for 44 per cent of total registrations. Homes larger than 1,000 square feet made up 17 per cent of registrations, up from 15 per cent in May 2024. This segment held steady month-on-month, indicating stable interest in larger living spaces. Market watchers are observing this trend closely, especially as developers introduce more configurations in upcoming launches.
Suburbs Lead Activity; Premium Markets Show Growth
The central and western suburbs continue to be the primary drivers of activity in Mumbai's real estate market. These areas have seen consistent growth, supported by the development of premium projects and the increasing demand for higher-value properties. The steady rise in the value of registrations, despite the dip in unit numbers, underscores the resilience and attractiveness of these premium segments to buyers looking for quality and location.
Frequently Asked Questions
What was the year-on-year change in housing registrations in Mumbai in May 2025?
Mumbai witnessed a 4 per cent year-on-year (YoY) decline in housing registrations in May 2025.
How did the value of property registrations change year-on-year in May 2025?
The total value of property registrations rose 3 per cent year-on-year (YoY) to ₹177 billion in May 2025.
What is the percentage increase in the average property value from January to May 2025 compared to the same period last year?
The average property value registered from January to May 2025 stood at ₹14.7 million, up 11 per cent year-on-year (YoY).
What percentage of registered properties in May 2025 were compact homes under 1,000 square feet?
Compact homes under 1,000 square feet dominated the market, accounting for 80 per cent of registered properties in May 2025.
Which areas in Mumbai are leading the real estate market activity?
The central and western suburbs are leading the real estate market activity in Mumbai, accounting for 87 per cent of all property registrations in May 2025.
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