Top 5 Property Stocks to Watch This Festive Season in Mumbai
The festive season is here, and for many, it is not just a time for celebrations but also an opportunity to invest in new assets. According to a recent brokerage report by Nuvama, September 2025 marked a record-breaking month for housing registrations in Mumbai. With festivals like Ganesh Chaturthi and Navratri driving demand, both the number and value of registered homes reached their highest-ever September levels.
Let’s take a look at what the brokerage has to say about the sector and the key stocks to watch –
Property Stocks in Spotlight: Nuvama Lists Out Key Beneficiaries
The brokerage house Nuvama has identified several listed Mumbai-based developers as potential beneficiaries of the festive boost. These include Lodha, Oberoi, Godrej Properties, Sunteck, and Rustomjee. These companies are well-positioned to capture demand in both luxury and mid-segment markets, with strategic launches and locations offering an edge during the season.
Mumbai Housing Registrations Hit New Highs
According to the brokerage report, the number of housing units registered in Mumbai surged by 32% year-over-year (YoY) and 7% month-over-month (MoM) to 12,070 units during September 2025. The total value of these units also climbed sharply to INR 215 billion, up 47% YoY and 29% MoM. The average ticket size of homes rose 11% YoY to Rs 17.8 million. Residential properties dominated the market, accounting for roughly 80% of total registrations.
On the other side, luxury homes priced above Rs 50 million continued to gain traction. The brokerage noted that affordability challenges have reduced the share of smaller units priced below Rs 10 million. The Western suburbs continued to dominate demand, contributing more than half (59%) to the overall registrations in September 2025. Central suburbs accounted for 29%, while South and Central Mumbai combined contributed just 13%. On a year-to-date basis, registrations have already crossed 111,938 units, up 6% YoY, with the total value hitting Rs 1.7 trillion, marking an all-time high.
Why This Matters: 3 Key Reasons You Need to Know
The brokerage house Nuvama, in its report, noted that the surge in registrations is being driven by three key factors:
1. Festive Season : This season has historically boosted real estate activity. During this period, buyers take advantage of auspicious timings to make high-value purchases. 2. Strong Launch Pipeline and Potential Mortgage Rate Cuts : A robust launch pipeline combined with potential mortgage rate cuts could further enhance sales in Mumbai. 3. Rising Interest in Luxury and Mid-Segment Properties : This suggests a shift in buyer preferences, with larger homes and premium properties capturing more attention.
However, Nuvama also noted concerns. “Affordability emerges as a key concern,” the report stated. With supply sharply increasing, the market is now in a mid-cycle stage, which may limit significant price growth in the near term. Demand has already crossed the peak of the previous upcycle, and persistent issues like weak volume growth for mid-income homes and uneven job generation could keep stocks volatile and range-bound.
