Mumbai property market records 13-year April high with 12,000+ deals; luxury homes lead surge

Mumbai’s real estate market recorded its strongest April in over a decade, with 12,142 property registrations, marking a 4% year-on-year rise, according to Knight Frank India. This is the highest number of deals for the month in 13 years.

The surge was led by the premium housing segment, with properties priced above ₹2 crore making up 25% of total sales, up from 22% in April 2024. Despite a 6% decline in revenue, the transactions still added ₹990 crore to the state exchequer.

Driven by strong housing demand, 80% of the registrations were residential, with premium homes (over ₹2 crore) making up 25% of the total. Affordable homes under ₹50 lakh held steady at 14%. The Western and Central suburbs led buyer interest, accounting for 85% of registrations, while micro-markets like Borivali, Ghatkopar, and Versova saw notable growth.

Experts credit stable government policies, improving infrastructure, and increasing consumer confidence for the momentum. Developers noted that despite liquidity concerns and global uncertainties, the shift from speculative buying to end-user purchases shows a maturing market poised for steady growth.