Mumbai's Luxury Housing Market Sees 36% Rise in Unsold Inventory in Q1 2025
Mumbai's luxury housing market has witnessed a significant 36% year-on-year increase in unsold inventory, rising from 6,180 units in Q1 2024 to nearly 8,420 units in Q1 2025, according to a report by ANAROCK.
MumbaiLuxury HousingReal EstateAnarockProperty MarketReal Estate NewsMay 31, 2025
This marks the first increase in unsold luxury stock since 2022. The previous two years had seen significant improvements, with a 29% drop in unsold inventory from approximately 18,340 units in Q1 2022 to 13,040 units in Q1 2023. In Q1 2024, the decline continued, with a 53% year-on-year reduction to about 6,180 units.
The recent rise in unsold inventory is largely attributed to a surge in new unit additions in the luxury segment. ANAROCK data reveals that 2024 saw the addition of 16,480 units in the ₹2.5 crore and above category in the Mumbai Metropolitan Region (MMR), with another 5,294 units added in Q1 2025. Anuj Puri, chairman of ANAROCK Group, explains, “While demand for these homes remains strong, factors such as skyrocketing prices and global economic headwinds have slowed sales growth over the past year.”
Despite the increase in unsold luxury inventory, property registrations across all budget categories in Mumbai continued to rise in the first five months of 2025. According to data from the Maharashtra State Revenue Department, the total revenue collected from property registrations in Mumbai from January to May 2025 reached a record high of ₹5,695 crore, a 17% increase from the same period in 2024 when the revenue was approximately ₹4,860 crore.
In terms of the number of property registrations, 64,461 properties were registered in Mumbai in the first five months of 2025, compared to 60,818 properties in the same period last year, marking a 6% jump. ANAROCK's report highlights that May 2025 recorded the second-highest number of property registrations since 2019, with over 11,562 properties registered. The revenue collected during the month stood at approximately ₹1,062 crore. In comparison, May 2024 saw the highest registrations of around 11,999 properties, with a revenue collection of ₹1,062 crore, which was nearly 3% lower than this year.
The average ticket price of homes sold in Mumbai from January to May 2025 was ₹1.59 crore, the highest since 2019. This indicates a trend towards the sale of high-ticket homes. In 2021, the average ticket price was at its lowest at ₹1.02 crore. The report suggests that 2025 will continue to see more sales of high-ticket homes compared to more affordable ones.
These trends highlight the complex dynamics of Mumbai's real estate market, where luxury housing faces challenges despite overall growth in property registrations. The increase in unsold inventory suggests that developers and buyers need to adapt to changing market conditions to maintain a healthy balance.
Frequently Asked Questions
What is the reason behind the 36% increase in unsold luxury housing inventory in Mumbai?
The increase is mainly due to a significant number of new unit additions in the luxury segment over the past year, coupled with factors such as high prices and global economic headwinds that have slowed sales growth.
How has the overall property registration trend been in Mumbai from January to May 2025?
Property registrations in Mumbai have continued to rise, with 64,461 properties registered in the first five months of 2025, a 6% increase from the same period in 2024. The total revenue collected from these registrations is also up by 17%.
What is the average ticket price of homes sold in Mumbai from January to May 2025?
The average ticket price of homes sold in Mumbai from January to May 2025 was ₹1.59 crore, the highest since 2019, indicating a trend towards the sale of high-ticket homes.
What was the trend in unsold luxury inventory in the previous two years before 2024?
The previous two years saw a significant decline in unsold luxury inventory. In Q1 2023, unsold inventory dropped 29% from approximately 18,340 units in Q1 2022 to 13,040 units. In Q1 2024, it further declined by 53% year-on-year to about 6,180 units.
What does the ANAROCK report suggest about the future of high-ticket home sales in Mumbai?
The report suggests that 2025 will continue to see more sales of high-ticket homes compared to more affordable ones, as indicated by the average ticket price of homes sold standing at ₹1.59 crore, the highest since 2019.
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