Mumbai : Mumbai’s luxury housing market continues to cement its position as the most influential and resilient segment within India’s evolving premium real estate ecosystem, as highlighted in the newly released Magicbricks India Luxury Housing Market Report 2025. While luxury markets across Tier-1 cities are entering a phase of maturity, Mumbai stands apart with its distinctive depth, sustained high-ticket demand and the ability of multiple micro-markets to command premium valuations despite citywide price convergence.

The report also highlights that, even as other metros exhibit higher premium shares, Mumbai continues to lead in absolute pricing and maintains the deepest luxury demand pool in the country. Mumbai holds the highest median quoted luxury price in the country at ₹9.66 crore, significantly ahead of other Tier-1 cities such as Gurugram (₹5.46 crore), Bengaluru (₹2.91 crore), Hyderabad (₹2.20 crore), Chennai (₹2.00 crore) and Pune (₹1.97 crore).

While the Luxury Price Index (LPI) for Tier-1 cities moderates from 2.32 in 2021 to 2.27 in 2025, Mumbai maintains a leading luxury coefficient of 3.72—up from 3.32 last year—reflecting its enduring ability to command premium pricing amid rising mainstream values and broader market premiumisation.

Mumbai’s luxury demand remains closely tied to high-value neighbourhoods such as South Mumbai, Worli–Lower Parel and Bandra West, which continue to attract concentrated interest from affluent buyers, CXOs, NRIs and investor-led purchasers. User searches in the luxury segment have strengthened further this year, with the ₹5–10 crore and ₹10 crore-plus brackets experiencing sharp momentum. This surge has been complemented by a steady expansion in luxury listings, supported by developers launching larger residences, amenity-rich gated communities and integrated lifestyle formats to match evolving consumer expectations.

The report also highlights that several emerging luxury markets across India—such as Noida Expressway, Devanahalli, Ballygunge and Porvorim—are gaining scale, but Mumbai’s luxury landscape continues to remain distinct in its maturity and breadth. “With a premiumisation wave sweeping through mainstream housing, the city’s average prices have risen steadily, narrowing the ratio between luxury and mainstream homes but widening the absolute value gap. This shift underscores Mumbai’s unique economic profile, driven by its dense wealth concentration, finance-led professional growth, and heightened aspiration for well-connected, centrally located luxury living,” said Prasun Kumar, CMO, Magicbricks.

The evolving definition of luxury—characterised by design sophistication, concierge-led living, sustainability integration and elevated community experiences—is further reinforcing Mumbai’s position as the benchmark city for luxury real estate in India.