The Mumbai real estate landscape experienced a remarkable uptick in housing registrations in March 2025, showcasing a 10% year-on-year (YoY) increase, with 15,501 units registered. This surge also brought about a substantial 42% YoY rise in the total value of registered properties, reaching an impressive ₹265 billion. This growth is largely attributed to consumers making advance purchases in anticipation of the upcoming hike in ready reckoner rates, which are set to increase by 3.4% in Mumbai and 3.9% across Maharashtra starting this April.

Key Insights into the Mumbai Housing Market

Recent findings from a research report by Nuvama reveal that the majority of the registrations—about 80%—were for residential properties. Here’s a closer look at the registration trends:

• Units under 500 sq ft: Fell by 38% YoY, down from 48% last year.
• Units between 500-1000 sq ft: Increased to 48%, up from 43% YoY.
• Units over 1000 sq ft: Saw growth to 14%, rising from 9% in March 2024.

Yearly Performance Highlights

The overall market performance for the fiscal year 2025 has been exceptional, achieving record-breaking numbers. The total registrations soared by 9% year-on-year, with a total value increase of 22% YoY, culminating in a staggering ₹2.2 trillion.

In Maharashtra, March witnessed an even steeper climb, with registrations spiking 11% YoY and 30% month-on-month (MoM), totaling 185,071 units. The average ticket size of properties has also seen a significant rise, jumping 29% YoY to ₹17.1 million, indicating a shift in buyer preferences towards higher-end properties.

Market Trends and Buyer Behavior

Notably, properties priced above ₹20 million accounted for 19% of registrations, an increase from 16% the previous year. The suburbs of central and western Mumbai have become hotspots for sales, responsible for 78% of total registrations, with central suburbs gaining an increased market share.

The positive momentum in the Mumbai real estate market can be attributed to several factors:

• Strong launch pipeline: A robust supply of new properties is on the horizon.
• Reduced mortgage rates: Making home financing more accessible for buyers.

Prominent developers like Lodha, Oberoi, Godrej Properties, Sunteck, and Rustomjee are well-positioned to capitalize on these trends, reflecting a bright outlook for the city’s real estate sector.

As the housing market continues to evolve, stakeholders and potential buyers are keenly observing these dynamics, which promise a vibrant future for real estate in Mumbai.