Mumbai's luxury residential market saw a significant rise in unsold inventory in Q1 2025, marking the first yearly increase since 2022. As many as 8,420 luxury units priced above Rs 2.5 crore remain unsold as of Q1 2025 end, compared to 6,180 units in the corresponding period of 2024. This 36% increase in unsold stock contrasts sharply with the previous years' declines, an ANAROCK report indicated.
In Q1 2023, there was a 29% yearly decline in unsold luxury stock, from approximately 18,340 units at the end of Q1 2022 to nearly 13,040 units at the end of Q1 2023. By the end of Q1 2024, the unsold luxury stock had further declined by 53% YoY to approximately 6,180 units.
The report further added that despite the rise in unsold luxury units, Mumbai's property registrations across all budget categories have reached new heights in the first five months of 2025.
The Maharashtra State Revenue Department reported a record 64,461 property registrations from January to May 2025, a 6% increase from 60,818 registrations in the same period last year. The total revenue collected from these registrations was nearly Rs 5,695 crore, a 17% jump from Rs 4,860 crore collected in the corresponding period of 2024.
March 2025 saw particularly high activity, with 15,501 properties registered following the announcement of a 3.9% hike in Maharashtra's ready reckoner rates for FY26. This month marked the highest property registrations in the past three years, contributing significantly to the overall revenue.
Further the report revealed that the average ticket price of homes sold from January to May 2025 stood at Rs 1.59 crore, the highest in the last seven years. This indicates a trend towards the sale of high-ticket homes, contrasting with the more affordable homes sold in previous years.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
