Mumbai, Oct. 30 -- Sales of ultra-luxury apartments priced at Rs. 500 mn and above in Mumbai more than doubled quarter-on-quarter in Q2 FY27, according to a report by Lighthouse Luxury. The segment recorded 20 transactions worth a combined Rs. 17.17 bn between July and September, compared with nine transactions valued at Rs. 8.19 bn in the preceding quarter.
September was the strongest month in the first half, with nine deals worth Rs. 6.96 bn. July recorded five transactions valued at Rs. 4.07 bn, while August saw six deals worth Rs. 6.14 bn. The report said each month in Q2 recorded at least five transactions, indicating sustained activity at the top end of Mumbai's residential market.
Worli remained a leading luxury housing destination, recording 275 sales at an average price of Rs. 202 mn, up 9.9 per cent quarter-on-quarter. Mahalaxmi registered 201 sales at an average Rs. 94 mn, an increase of 4.5 per cent. Andheri West and Versova together recorded 221 sales, while their average price rose 100.8 per cent to Rs. 83 mn.
Tardeo reported the sharpest price increase among the listed markets, with average prices rising 125 per cent to Rs. 123 mn across 104 sales. Bandra West recorded 159 sales at an average Rs. 110 mn, up 33 per cent, while Malabar Hill saw 84 sales at Rs. 165 mn, up 46.5 per cent. Juhu and Lower Parel recorded average prices of Rs. 138 mn and Rs. 119 mn, respectively.
Across Mumbai's top 10 luxury micro-markets, 1,424 homes were sold at an average price of Rs. 129 mn, with prices rising 25.5 per cent between Q1 and Q2. Overall, the city recorded 3,145 transactions involving homes priced above Rs. 50 mn between April and September, valued at Rs. 326.23 bn. Lighthouse Luxury said demand was broadening beyond traditional destinations, with the Rs. 50 mn to Rs. 100 mn segment accounting for seven in 10 sales.
Published by HT Digital Content Services with permission from Construction World.