Mumbai real estate: 96% housing sales in the up to ₹5 crore price range in H1 2025; Upgrade buyers drive luxury segment

Mumbai Metropolitan Region saw sales of 47,035 housing units in the first half of 2025, of which 96% were in the up to ₹5 crore price range

Out of the total homes sold, 18,604 units were priced under ₹50 lakh, 11,729 units were in the ₹50 lakh to ₹1 crore bracket, and 15,270 units fell within the ₹1 crore to ₹5 crore range. Mumbai stood out among all cities in the sub-₹1 crore segment, registering sales of 30,333 units, with Ahmedabad coming in second with 18,083 units.

In Mumbai, 64% of all residential sales in the first half of 2025 were for properties priced at ₹1 crore or less.

In the premium and ultra-luxury categories, 1,075 homes were sold in the ₹5 crore to ₹10 crore range, 199 in the ₹10 crore to ₹20 crore bracket, 124 between ₹20 crore and ₹50 crore, and 34 units were priced above ₹50 crore.

During H1 2025, approximately 1.7 lakh residential units were sold across the top eight cities—Mumbai Metropolitan Region (MMR), Delhi NCR, Bengaluru, Pune, Hyderabad, Ahmedabad, Chennai, and Kolkata—with MMR recording the highest volume of sales.

Knight Frank’s findings revealed that the ₹50 lakh–₹1 crore and ₹1 crore–₹2 crore segments were the most active, together making up nearly 50% of total home sales. Homes priced between ₹2 crore and ₹5 crore saw their market share grow to 12%, up from 9% during the same period in 2024, highlighting a growing demand in the upper mid-income segment.

Meanwhile, the share of homes priced under ₹5 crore dipped slightly to 40%, largely due to shrinking supply caused by escalating costs and limited affordable land availability, according to the report.

As per the sources, Around 34% are investing in real estate, while about 10% are first-time homebuyers. The majority of buyers in the sub-₹50 lakh and sub-₹1 crore segments are entering the market for the first time. On the other hand, homes priced ₹5 crore and above are mainly being purchased by buyers upgrading their lifestyles.

Industry professionals also pointed to the trend of "property laddering," where individuals begin by purchasing smaller homes and move to larger or better-located properties as their financial situation improves. This approach helps first-time buyers gain a foothold in the market, build equity, and eventually upgrade to meet changing lifestyle needs.

Additionally, Mumbai’s real estate market sees the registration of approximately 10,000 properties each month. Knight Frank India reports that around 80% of these are residential transactions, with the remaining comprising commercial and retail spaces. AI Generate News Disclaimer :

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