Mumbai recorded 957 luxury home sales worth Rs 18,512 crore in the first half of 2026, according to CRE Matrix and India Sotheby’s International Realty. The value was 12 per cent above the Rs 16,518 crore booked a year earlier. The number of deals rose 26 per cent. The report counts homes priced at Rs 10 crore and above as luxury.
Supply has not kept pace. Land in the city’s prime neighbourhoods is limited, and JLL has noted that luxury homes kept selling strongly despite thin supply, with the highest half-yearly sales value on record for premium homes.
Where the money goes
Demand is concentrated. The top 10 luxury localities accounted for around 80 per cent of the value of primary luxury sales in the first half, according to the Mumbai Luxury Housing Report. Worli recorded 159 luxury apartment sales, up from 35 in the first half of 2025.
Buyers are paying for space. Apartments of 2,000 to 4,000 square feet made up 58 per cent of primary luxury sales by unit volume. Homes above 4,000 square feet were a smaller share of the deals but brought in more than 25 per cent of total sales value.
At the very top, one deal stood out. An entire 63,000-square-foot residential tower in Juhu was reportedly bought for Rs 711 crore in September.
Roads and redevelopment
JLL says the western coastline is turning into a growth corridor as roads ease the travel times that once held back waterfront locations. The Mumbai Coastal Road has cut the trip between Worli and Marine Drive from roughly 35 to 40 minutes to 10 to 15 in normal conditions. The Versova-Bandra Sea Link, still to open, is expected to bring Versova to Bandra down from 45 to 60 minutes to about 10 to 15.
The consultancy values the coastal redevelopment pipeline at roughly Rs 6,000 crore. It counts 75 to 80 projects, with more than 250 units, expected to reach the market over the next eight to nine quarters. Ritesh Mehta, a senior director at JLL, gave the unit figure. The next phase of premium building is expected to move north, towards Malad and Borivali, where there are larger land parcels.
Prices
Knight Frank reported that Mumbai’s average residential price rose 8 per cent year on year in the first half of 2025, to Rs 8,532 per square foot. It put part of the rise down to bigger units, branded developments and higher-specification homes. Its prime residential index for September 2026 showed prime prices in the city up 6.2 per cent on the year.
The premium segment has also outrun the wider market. JLL data for January to September 2025 showed overall residential sales in India’s major cities falling 12 per cent, while sales of homes priced at Rs 1 crore and above rose 4 per cent.
Sources
- Mumbai coastal road sparks Rs 6,000 cr luxury housing boom
- Mumbai Real Estate Market Forecast 2026: Trends, Prices & Investment Opportunities
- Luxury Housing Demand in Mumbai: What Is Driving Premium Sales? | Housystan
