Mumbai Real Estate Market Shows Resilience Despite YoY Unit Decline
Mumbai's real estate market saw a 4% YoY decline in housing registrations in May 2025, but the total value of registrations surged 17%. The central and western suburbs continue to dominate, reflecting strong demand in premium areas.
Mumbai Real EstateHousing RegistrationsProperty ValueMarket DynamicsPremium AreasReal Estate NewsJun 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.
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.
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.
The suburbs, particularly the central and western areas, continue to lead activity in Mumbai's real estate market. Premium markets are showing significant growth, driven by the demand for high-value properties. This trend suggests that despite the overall decline in unit registrations, the market remains robust and is adapting to the evolving preferences of homebuyers.
Frequently Asked Questions
What was the year-on-year (YoY) change in housing registrations in Mumbai in May 2025?
Mumbai witnessed a 4% YoY decline in housing registrations in May 2025.
How did the value of housing registrations in Mumbai change year-on-year in May 2025?
The total value of housing registrations in Mumbai rose 3% YoY to ₹177 billion in May 2025.
What percentage of property registrations in Mumbai were in the central and western suburbs in May 2025?
Central and western suburbs accounted for 87% of all property registrations in May 2025.
What was the average property value registered in Mumbai from January to May 2025?
The average property value registered in Mumbai from January to May 2025 stood at ₹14.7 million, up 11% YoY.
What percentage of registered properties in May 2025 were larger than 1,000 square feet?
Homes larger than 1,000 square feet made up 17% of registrations in May 2025, up from 15% in May 2024.
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