India, June 11 -- Mumbai's ultra-luxury housing market is drawing an increasing number of buyers from outside Maharashtra. According to CREMatrix data, among purchasers of homes priced above Rs.25 crore between CY2023 and CY2025, Delhi accounted for the largest share of buyers, followed by Kolkata, Pune, Ahmedabad, and Bengaluru.

Industry experts say Mumbai continues to enjoy a distinct premium, driven by its deep luxury housing stock, global connectivity, established business ecosystem and reputation as a long-term store of wealth.

While Mumbai buyers accounted for nearly 85% of the over 700 transactions recorded in the Rs.25 crore-plus segment, the remaining 15% were driven by buyers from cities such as Delhi-NCR, Kolkata, Pune, Ahmed...