Housing sales of ultra-luxury apartments priced at ₹50 crore and above in Mumbai more than doubled in the second quarter of FY27 compared with the preceding quarter, according to a report by Lighthouse Luxury.
As many as 20 ultra-luxury homes, worth a combined ₹1,717 crore, were sold between July and September, compared with nine transactions valued at ₹819 crore between April and June. Of the 29 transactions recorded in the first half of FY27, September saw the highest monthly tally, with nine deals worth ₹696 crore.
Monthly transactions in the ₹50-crore-and-above segment remained strong throughout the July-September quarter. July recorded five deals worth ₹407 crore, while August saw six transactions valued at ₹614 crore. September emerged as the strongest month, with nine homes sold for a combined ₹696 crore, the report showed.
Each month in the second quarter recorded at least five transactions, indicating sustained activity in Mumbai's highest residential price bracket.
Worli leads the luxury housing market, but growth spreads
Worli remained a key destination for luxury housing, particularly in the above- ₹5-crore segment. However, Andheri West, Versova and Tardeo also recorded sharp increases in average residential prices between the first and second quarters, suggesting that demand is spreading across multiple micro-markets.
{{/usCountry}}Worli remained a key destination for luxury housing, particularly in the above- ₹5-crore segment. However, Andheri West, Versova and Tardeo also recorded sharp increases in average residential prices between the first and second quarters, suggesting that demand is spreading across multiple micro-markets.
{{/usCountry}}Worli recorded 275 home sales at an average price of ₹20.2 crore, marking a 9.9% increase quarter-on-quarter. Mahalaxmi saw 201 homes sold at an average price of ₹9.4 crore, up 4.5%, according to the report.
Andheri West and Versova together recorded 221 home sales, with the average price rising 100.8% to ₹8.3 crore. Tardeo reported the sharpest increase among the listed markets, with average prices rising 125% to ₹12.3 crore across 104 home sales.
Other established luxury markets also recorded price appreciation. Bandra West saw 159 homes sold at an average price of ₹11 crore, up 33% quarter-on-quarter. Malabar Hill recorded 84 sales at an average price of ₹16.5 crore, an increase of 46.5%, while Juhu registered 93 sales at an average price of ₹13.8 crore, up 19.6%. Lower Parel recorded 98 sales at an average price of ₹11.9 crore, a 44.3% increase, according to the report.
Confidence returns to the ultra-luxury segment
“Confidence at the very top is back. Deals above ₹50 crore more than doubled, from nine to 20, and September alone recorded as many transactions as the entire first quarter. In one building, three homes sold for ₹456 crore,” said Sumesh Mishra, founder of Lighthouse Luxury.
He said demand was also spreading beyond traditional luxury housing destinations. Average prices in Andheri West and Versova doubled in a single quarter, while Tardeo recorded an increase of more than 100%. Together, these markets accounted for more than 40% of the growth, he said.
“Mumbai’s luxury market now has more than one engine. With demand this deep and spreading this fast, I expect the second half to build on the first,” Mishra said.
Luxury housing sales cross ₹32,000 crore
Across Mumbai's top 10 luxury housing micro-markets, 1,424 homes were sold at an average price of ₹12.9 crore, representing a 25.5% increase in average prices between the first and second quarters. In other areas, 1,721 homes were sold at an average price of ₹8.3 crore, up 7.2%, according to the report.
Overall, Mumbai recorded 3,145 transactions involving apartments priced above ₹5 crore between April and September 2026, with sales valued at ₹32,623 crore. This translates to an average of about 17 transactions a day. Worli led the market with 275 sales, according to Lighthouse Luxury's H1 FY27 report.
“The first half shows a market that is both broad and deep: the ₹5-crore to ₹10-crore band accounts for seven in every 10 sales, while homes above ₹20 crore carry more than a quarter of the value,” said Murtuza Vapiwala, co-founder of Lighthouse Luxury.