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Mumbai’s unsold luxury housing inventory rises 36% in Q1 2025 after two-year decline: ANAROCK
Mumbai’s luxury housing market has seen a sharp rise in unsold inventory, with a 36% year-on-year increase in apartments priced above ₹2.5 crore in Q1 2025
The Mumbai real estate market's luxury residential market witnessed a 36% yearly increase in unsold stock of luxury apartments priced above ₹2.5 crore from 6,180 units as of Q1 2025 to nearly 8,420 units as of Q1 2025, according to a report released by ANAROCK, a real estate consultancy.
Mumbai’s luxury housing market has seen a sharp rise in unsold inventory, with a 36% year-on-year increase in apartments priced above ₹2.5 crore, climbing from 6,180 units in Q1 2024 to nearly 8,420 units in Q1 2025, according to a report by real estate consultancy ANAROCK.
The Q1 2025 rise signals a potential shift in buyer sentiment or supply dynamics in Mumbai’s high-end real estate segment.
This marks the first increase in unsold luxury stock since 2022. The previous two years had shown significant improvement. In Q1 2023, unsold inventory dropped 29%, from approximately 18,340 units in Q1 2022 to 13,040 units. In Q1 2024, it further declined by 53% year-on-year to about 6,180 units.
“The increase in unsold luxury stock is mainly attributable to significant new unit additions in this price category over the last one year. As per ANAROCK data, 2024 saw as many as 16,480 units added in the above ₹2.5 crore budget category in the entire Mumbai Metropolitan Region (MMR), while another 5,294 units were added in Q1 2025," Anuj Puri, chairman, ANAROCK Group, said.
"While demand for these homes continues to remain strong, skyrocketing prices and headwinds like global economic slowdown have dented the sales growth of these homes over the last one year.”
64,461 properties registered in Mumbai in five months of 2025
According to the report, property registrations in the Mumbai real estate market across budget categories continued to rise in the first five months of 2025.
According to Maharashtra State Revenue Department data, the overall revenue collected by the authorities from property registrations and total registrations in Mumbai from January to May 2025 is at a record high of ₹5,695 crore. This is 17% more than last year’s corresponding period (January- May 2024), when the revenue collected was approximately ₹4,860 crore.
In terms of the number of property registrations, 64,461 properties were registered in the city in five months of 2025, compared to 60,818 properties in the same period last year. This is a 6% jump this year over last year, ANAROCK report said.
Also Read: Why are up to ₹2 crore properties the most preferred in the Mumbai real estate market?
“A deeper analysis reveals that May 2025 recorded the second-highest number of property registrations since 2019 in May month, with over 11,562 properties registered. The revenue collected during the month stood at approximately ₹1,062 crore. In comparison, May 2024 saw the highest registrations of around 11,999 property registrations—about 4% higher than this year. However, revenue collection last year was lower by nearly 3% at ₹1,062 crore,” Puri said.
Meanwhile, property registration data and demand trends over January to May show that the average ticket price of homes sold stood at ₹1.59 crore, the highest since 2019, indicating sales of high-ticket homes. If we look back at the corresponding period in 2021, the average ticket price stood at its lowest at ₹1.02 crore.
The report said this denotes that in 2025, we will continue to record more sales of high-ticket homes than more affordable ones.
