Mumbai records highest luxury property transactions in decade

Mumbai's luxury real estate market has reached new heights with the highest number of high-value transactions recorded in the past decade. According to data from Square Yards, the city witnessed over 2,100 property registrations valued above Rs 10 crore in the first quarter of 2025, marking a 32% increase compared to the same period last year.

South Mumbai localities like Malabar Hill, Worli, and Bandra have been at the forefront of this luxury boom, with average per square foot prices ranging between Rs 65,000 to Rs 1,00,000. The luxury market in Mumbai has shown remarkable resilience and growth, driven by increased demand from high-net-worth individuals and NRIs looking to invest in premium properties, said Anand Piramal, Executive Director, Piramal Group.

Industry experts attribute this surge to various factors including strong economic fundamentals, stable political environment, and the city's improving infrastructure. Additionally, the depreciation of the Indian rupee has made luxury properties more attractive to NRI buyers.

The trend is expected to continue through 2025, with developers focusing on premium amenities and branded residences to cater to this growing luxury segment.