Mumbai's Ultra-Luxury Property Market Shatters Records with Rs 14,750 Crore in H1 2025
Mumbai's luxury residential market has seen a significant surge, with homes priced above Rs 10 crore recording their highest-ever half-yearly sales of Rs 14,750 crore in the first half of 2025.
MumbaiLuxury PropertyReal EstateHighnetworthRecord SalesReal Estate MumbaiJul 23, 2025
According to data from India Sotheby’s International Realty, a luxury real estate consultancy firm, and data analytics firm CRE Matrix, Worli retained its lead as the most preferred luxury destination, contributing 22 percent of primary sales value. Other thriving micro-markets included Bandra West (192 percent growth), Tardeo (254 percent growth), Prabhadevi, and Malabar Hill. Homes priced above Rs 40 crore registered a sharp rise, tripling from 17 units in H1 CY’22 to 53 in H2 CY’24.
Worli, a prominent sea-facing area often referred to as India’s Billionaire’s Row, is home to India’s top billionaires, business tycoons, and celebrities such as Ajay Piramal, Hemendra Kothari, Shreegopal Kabra, Uday Kotak, and Leena Gandhi Tewari, among others.
When it comes to the purchase of ultra-luxury homes, the buyers in the 45–65-year age group remained the largest segment. Apartments measuring between 2,000 and 4,000 square foot dominated, representing 70 percent of primary sales.
The data from the report, which was released on July 22, showed that the sales figure of Rs 14,750 crore, encompassing both primary and secondary transactions, marks a significant 11 percent increase compared to the Rs 12,300 crore registered in H1 2024.
Market observers said that this surge in luxury sales underscores the robust momentum in residential demand. Rising wealth, strong investor confidence, and the growing purchasing power of high-net-worth individuals in the region are driving such high-end home sales.
Sudershan Sharma, Executive Director, India Sotheby's International Realty, said that record sales in H1 2025 signal sustained appetite for ultra-premium homes, especially in established micro-markets like Worli, Prabhadevi, Tardeo, Malabar Hill, and Bandra West— driven by better infrastructure and a spate of high-quality new launches.
This demand is buoyed by India’s expanding wealth base. The UBS Billionaire Ambitions Report 2024 notes India now has 185 billionaires, more than double the number a decade ago, with collective wealth rising 263 percent to $ 905.6 billion. That said, with continued global uncertainty around tariffs, geo-political conflicts, and muted stock markets, the outlook for the remainder of 2025, while still positive, is expected to be more cautious and selective.
The report showed that 24 percent of buyers from the top 10 localities for luxury housing in Mumbai have their origins in localities situated beyond South Mumbai. This implies an upgrade of lifestyle. Nearly 7 percent of Goregaon East accounted for the highest proportion of homebuyers, amongst the top 10 localities, originating for luxury home purchases.
Some of the noteworthy property transactions in Mumbai include duplex apartments worth Rs 639 crore by Leena Gandhi Tiwari at Naman Xana building in Worli. This was India’s most expensive residential property deal in 2025.
It was followed by Rs 225.8 crore residential property purchase by Shaula Real Estate Pvt Ltd, a subsidiary of Godrej Industries, at Naman Xana in Worli.
In another high-profile property deal, AEX Real Estate LLP had bought apartments at Oberoi 360 West in Worli for Rs 201.6 crore.
Another notable real estate deal included the sale of Bollywood actor Late Dilip Kumar’s iconic bungalow in Bandra, Mumbai. The luxurious bungalow, covering 9,527.21 square feet, was sold for Rs 155 crore to Apco Infratech Private Limited.
Frequently Asked Questions
What is the record sales figure for luxury homes in Mumbai in H1 2025?
The record sales figure for luxury homes priced above Rs 10 crore in Mumbai in H1 2025 is Rs 14,750 crore.
Which area in Mumbai is the most preferred for luxury property?
Worli is the most preferred area for luxury property in Mumbai, contributing 22 percent of primary sales value.
What is the age group of the largest segment of ultra-luxury home buyers?
The largest segment of ultra-luxury home buyers in Mumbai is in the 45–65-year age group.
How many billionaires does India have according to the UBS Billionaire Ambitions Report 2024?
According to the UBS Billionaire Ambitions Report 2024, India has 185 billionaires.
What is the most expensive residential property deal in Mumbai in 2025?
The most expensive residential property deal in Mumbai in 2025 is a duplex apartment worth Rs 639 crore by Leena Gandhi Tiwari at Naman Xana building in Worli.
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