Mumbai's premium residential real estate sector experienced a robust period between April and September 2026, recording 3,145 luxury home transactions with a cumulative value of ₹32,623 crore. This surge highlights a sustained strong appetite for high-end properties in India's financial hub, particularly within the ultra-luxury segment.
Ultra-Luxury Segment Leads Growth
Data from Lighthouse Luxury, powered by Zapkey, reveals that the market gained considerable momentum in the second quarter of the financial year 2026-27. Transaction volumes increased by 10.5% quarter-on-quarter to 1,651 deals, while their combined value rose by 17.1% to ₹17,600 crore. The average transaction value also saw a 6% increase, reaching ₹10.7 crore.
Demand for homes priced at ₹50 crore and above was exceptionally strong. Mumbai witnessed 29 such transactions during the six-month period, accounting for a total of ₹2,536 crore. This segment more than doubled its activity from nine deals in Q1 to 20 in Q2, with September alone matching Q1's total with nine transactions.
Key Market Highlights
- Transaction Volume: 3,145 luxury homes sold.
- Total Value: ₹32,623 crore.
- Average Daily Sales: Over 17 homes priced at ₹5 crore and above.
- Strongest Month: July recorded 618 transactions worth ₹6,669 crore.
- Dominant Price Band: Homes between ₹5 crore and ₹10 crore constituted approximately 70% of luxury transactions.
Top Developers and Micro-Markets
Godrej Properties emerged as the leading developer, registering transactions worth ₹2,360 crore across 207 homes. Oberoi Realty followed with ₹1,818 crore, and Lodha Developers secured third place with sales valued at ₹1,741 crore.
Worli continued its dominance as Mumbai's largest luxury housing market, seeing 275 transactions worth ₹5,558 crore, with an average transaction value of ₹20.2 crore.
Expanding Demand Beyond Core Areas
Beyond Worli, other neighborhoods also demonstrated significant growth. Andheri West and Versova experienced a doubling of transaction value between the first and second quarters, while Tardeo recorded an impressive 125% quarter-on-quarter growth. The combined transaction value across Mumbai’s top 10 luxury housing micro-markets outpaced the overall market's growth, rising by 26% between the two quarters.
Active Premium Rental Market
The premium rental market remained vibrant, with eight homes leased at monthly rents of ₹20 lakh or more between June and September 2026. Seven of these were rented by companies. A residence at Oberoi 360 West in Worli commanded the highest reported monthly rent at ₹28.5 lakh, underscoring the strong demand for high-value rental properties.