This City Is Seeing Rapid Sales Of Rs 10 Crore+ Flats. It’s Neither Delhi Nor Noida | Business News

Last Updated:July 22, 2025, 14:43 IST

Most buyers are aged 45-65, though interest from those over 65 is growing. Larger flats between 2,000 and 4,000 sq ft remain the top choice among luxury homebuyers

Over the past 12 months, luxury property sales touched Rs 28,750 crore, with 1,335 high-end flats sold. (Representative/Shutterstock)

Buying a home in metros like Delhi and Mumbai has long been a dream for many. But when it comes to luxury properties, that dream becomes reality for only a privileged few. Once confined to postcards, sea-facing addresses like Worli and Malabar Hill now witness multi-crore flats being snapped up within minutes.

Today’s Mumbai is not just the city of dreams, it has emerged as the city of ultra-luxury living. The skyline is rapidly transforming, with old bungalows and colonies giving way to gleaming towers, expansive living spaces, and billionaire addresses.

Mumbai’s luxury real estate market is currently at an all-time high. In the first half of 2025 alone, homes priced above Rs 10 crore registered record-breaking sales worth Rs 14,750 crore, the highest half-year tally ever. Over the past 12 months, luxury property sales touched Rs 28,750 crore, with 1,335 high-end flats sold, the highest annual figure to date.

Rising Demand For Larger, High-End Homes

In Mumbai, luxury properties have averaged sales of Rs 9,750 crore every six months over the past five years. However, the first half of 2025 saw a sharp jump, indicating that demand for spacious, high-end homes remains strong among affluent buyers.

Localities like Worli, Bandra West, Tardeo, Prabhadevi, and Malabar Hill continue to be the most sought-after. Notably, homes priced between Rs 10 crore and Rs 20 crore accounted for 60-75% of the total sales in these areas.

Several factors are driving this growing demand—rising wealth in India, strong investor confidence, and increasing purchasing power among homebuyers. The majority of buyers fall in the 45–65 age group, though interest from those above 65 is also on the rise. Most are opting for larger apartments ranging from 2,000 to 4,000 square feet.

Worli Emerges As Top Choice For Luxury Homebuyers

Worli continues to be the most preferred locality, with primary sales alone contributing 22% of total luxury sales. Bandra West and Tardeo have also witnessed significant growth, with sales surging by 192% and 254%, respectively. Several high-profile deals have drawn attention-most notably, Leena Gandhi Tiwari’s Rs 639 crore flat in Worli’s ‘Naman Zana’ project and a Rs 201.6 crore home sold at Oberoi 360 West.

Luxury property sales are no longer confined to South Mumbai. Affluent buyers from areas like Goregaon East are now entering the market, moving out of older neighbourhoods in pursuit of a better lifestyle. Even the ultra-luxury segment—homes priced above Rs 40 crore-has seen a sharp rise. While only 17 such units were sold in the first half of 2022, the number jumped to 53 in the second half of 2024.

Billionaire Count On The Rise

The strength of Mumbai’s luxury real estate market is evident from the record-breaking sales in the first half of 2025, surpassing figures from any previous six-month period. India now boasts 185 billionaires with a combined wealth of around Rs 75 lakh crore, a key factor driving steady demand for high-end homes.

However, with global economic uncertainty and a sluggish stock market, some caution may temper future sales. Meanwhile, several new luxury projects are set to launch soon, including DLF’s The West Park (Andheri West), Suntec’s Napean Sea (Napean Sea Road), Prestige Nautilus (Worli), and Rustomjee Crescent (Bandra West). All eyes are now on how these developments will be received by the market.

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