Mumbai records 1,499 luxury residential registrations worth Rs 14,903 crore in Q1FY27

Demand for luxury housing in Mumbai is showing no signs of a slowdown, with around 16 homes priced at Rs 5 crore or more getting registered every day during the first quarter of FY27, according to a report published by Lighthouse Luxury.

Key points

• Worli retained its position as Mumbai's highest-value luxury destination, generating Rs 2, 272 crore throughout 97 deals (Average ticket size: Rs 23.4 Crore).
• Among developers, Godrej Properties topped the developer leaderboard with Rs 1304 crore throughout 110 registrations, propelled by high-value absorption at Godrej Trilogy in Worli.
• Notable ultra-luxury and celebrity transaction during the quarter includes a 29.42 lakh luxury apartment lease in Shandilya Villa, Worli by Alkem Laboratories promoter Mrityunjay Kumar Singh.
• This translates to an average transaction value of Rs 164 Crore every day throughout the quarter.

Worli retained its position as Mumbai's highest-value luxury destination, generating Rs 2, 272 crore throughout 97 deals (Average ticket size: Rs 23.4 Crore). Lower Parel followed closely generating Rs 769 Crore throughout 81 deals with an average ticket size of Rs 9.5 crore whereas Bandra West generated Rs 575 crore with 54 deals at an average ticket size of Rs 10.6 Crore.

Emerging suburban hubs like Goregaon East (46 deals Rs 552 Cr), Andheri West (60deals Rs 425 Cr), Vile Parle West (45 deals Rs 413 Cr) and Santacruz West (44 transactions Rs 364 Cr) joined traditional strongholds like Bandra West and Lower Parel in the top-grossing micro-markets.

Among developers, Godrej Properties topped the developer leaderboard with Rs 1304 crore throughout 110 registrations, propelled by high-value absorption at Godrej Trilogy in Worli. Godrej Trilogy topped the Luxury Charts with 37 deals (Rs 799 cr). Oberoi Realty followed closely with Rs 889 Crore throughout 92 units, led by Oberoi Sky City in Borivali East and Oberoi Elysian in Goregaon East. Other key performers included Lodha (Macrotech Developers) with Rs 633 crore throughout 81 transactions, Hubtown with Rs 531 Crore throughout 20 transactions and K Raheja Corp with Rs 509 Crore throughout 49 transactions.

"The transaction pace of 16 luxury homes a day demonstrates that HNI and UHNI buyers no longer view premium real estate purely as a cyclical asset class, but as a core wealth preservation strategy. Furthermore, the solid momentum in suburban redevelopment corridors like Goregaon East and Borivali East proves that 'luxury' in Mumbai is geographically expanding beyond traditional South and Central micro-markets, driven by modern gated amenities and improved transit infrastructure, " stated Sumesh Mishra, Founder, Lighthouse PropTech.

Murtuza Vapiwala, Co-Founder, Lighthouse PropTech remarked, that the report clearly indicates that while ultra-high-ticket sales (Rs 50 Cr+) underwent a quiet spell in June, the volume engine of the market-properties in the Rs 5 Cr to Rs 10 Cr band-remains exceptionally resilient and buoyant.

Notable ultra-luxury and celebrity transaction during the quarter includes a 29.42 lakh luxury apartment lease in Shandilya Villa, Worli by Alkem Laboratories promoter Mrityunjay Kumar Singh. Indian Cricketer Shreyas Iyer leased a residence in K Raheja Artesia, Worli for Rs 19.83 lakhs per month with Rs 74 lakhs as Security Deposit; while Bollywood Actor Siddharth Malhotra leased a residence in Nair House, Khar West for Rs 11 lakhs paying Rs 33 lakhs as Security Deposit.

Beyond Mumbai, the quarter's largest registered residential sale in India occurred on Boat Club Road, Chennai, fetching Rs 211 crore, comfortably above the Rs 134.6 crore average of Mumbai's own Rs 100 crore-plus registrations this quarter.

Taken together, the developments around mumbai records 1, 499 luxury residential registrations worth Rs 14, 903 crore in Q1FY27 point to a situation that is still moving, and the coming days should bring more clarity.