Mumbai's Real Estate Market: Suburbs Lead with a 17% Surge in Value
Mumbai's real estate market saw a 4% year-on-year decline in housing registrations in May 2025, but the total value of registrations rose by 3%. Central and western suburbs continue to dominate the market.
Mumbai Real EstateProperty RegistrationsHousing MarketSuburban GrowthPremium PropertiesReal Estate MumbaiJun 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
Central and western suburbs continue to be the primary drivers of activity in Mumbai's real estate market. These areas have seen a consistent influx of buyers, driven by a combination of affordability, infrastructure development, and access to amenities. Premium markets, particularly in the southern and central parts of the city, have also shown significant growth, reflecting the strong demand for high-end properties. This trend underscores the diverse nature of Mumbai's real estate landscape and the varying preferences of different buyer segments.
Frequently Asked Questions
What was the year-on-year change in housing registrations in Mumbai in May 2025?
Mumbai saw a 4 per cent year-on-year decline in housing registrations in May 2025.
How did the total value of property registrations change in May 2025 compared to the previous year?
The total value of property registrations rose 3 per cent year-on-year to ₹177 billion in May 2025.
What percentage of property registrations were in the central and western suburbs in May 2025?
Central and western suburbs accounted for 87 per cent of all property registrations in May 2025.
What is the year-to-date growth in housing unit registrations in Mumbai from January to May 2025?
From January to May 2025, Mumbai recorded a 6 per cent year-to-date growth in housing unit registrations.
What segment of the market saw the most significant increase in registrations in May 2025?
Homes larger than 1,000 square feet saw an increase in registrations, making up 17 per cent of total registrations in May 2025, up from 15 per cent in May 2024.
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