In the first half of FY27, Mumbai’s high-end residential sector saw significant growth, with over 17 homes valued at ₹5 Crore or more changing hands daily, according to Lighthouse Luxury and Zapkey’s Half-Yearly Luxury Real Estate Report, The Luxury Real Estate Market Decoded.
Between April and September 2026, Mumbai recorded 3,145 luxury property registrations totaling ₹32,623 Crore. The second quarter outperformed the first, with registrations rising 10.5% to 1,651 and transaction value increasing 17.1% to ₹17,600 Crore, or ₹191 Crore daily. July emerged as the strongest month, logging 618 homes sold for ₹6,669 Crore.
Ultra-Luxury Surge and Top Performers
Ultra-luxury transactions more than doubled, with 29 homes sold for ₹50 Crore or more, valued at ₹2,536 Crore. These deals climbed from 9 in Q1 to 20 in Q2, and September alone matched the entire first quarter’s count. Three homes at NamanXana commanded a combined ₹456 Crore, achieving the highest average at ₹152 Crore per property.
Worli maintained its position as the leading market, recording ₹5,558 Crore across 275 deals at an average of ₹20.2 Crore, representing 17% of total luxury value. Growth engines expanded beyond traditional hotspots, with Andheri West and Versova doubling in value from Q1 to Q2, while Tardeo saw a 125% increase. New launches from Sri Lotus Developers and Viceroy contributed over half of Andheri West & Versova’s quarterly growth.
Developer Rankings and Corporate Leasing Trends
Godrej Properties led developer sales with ₹2,360 Crore across 207 homes, followed by Oberoi Realty at ₹1,818 Crore and LodhaDevelopers at ₹1,741 Crore. Godrej Trilogy Seafront in Worli topped individual projects at ₹1,199 Crore. The corporate leasing segment also gained traction, with eight homes rented for ₹20 Lakh monthly or more between June and September 2026, seven of them to companies. The highest lease reached ₹28.50 Lakh monthly at Oberoi 360 West in Worli, totaling ₹3.42 Crore annually.
The market’s breadth and depth became evident through transaction distribution. The ₹5 Crore to ₹10 Crore price band accounted for seven out of every ten sales, while properties above ₹20 Crore carried over a quarter of total value.
Ten micro-markets contributed 56% of value, growing 26% from Q1 to Q2, outpacing the overall market’s 17% growth.
According to Mr. Sumesh Mishra, Founder of Lighthouse PropTech, Mumbai’s luxury market gained momentum, with confidence returning at the high end. He noted that ultra-luxury deals more than doubled and growth is spreading across multiple zones. “I expect the second half to build on the first,” he said.
Mr. Murtuza Vapiwala, Co-Founder of Lighthouse PropTech, emphasized the role of AI analytics and registration intelligence in providing accurate market insights. “This half shows a market that is both broad and deep,” he stated, highlighting the balanced transaction distribution across price segments. The data, derived from state-registered sale and lease records, offers a reliable view of market trends, as explained by Mr. Sandeep Reddy, Co-Founder of Zapkey.
The data’s reliability stems from its foundation in official property registrations, ensuring transparency. This focus on verifiable records allows stakeholders to gauge actual transaction values rather than listing prices. The report also highlights the emergence of new growth corridors, suggesting a diversification of demand beyond established luxury enclaves.
