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By:

Bhalchandra Chorghade

11 August 2025 at 7:24:18 pm

Mumbai leads India’s housing market sales

AI Generated Image Mumbai: Mumbai continued to dominate India’s residential market in the first nine months of 2026, accounting for more than a fourth of housing sales across the country’s eight leading markets. The city recorded 72,804 residential sales between January and September, a 1% year-on-year increase, even as the overall market remained flat and the National Capital Region (NCR) witnessed an 11% decline, according to Knight Frank India. The Mumbai market also showed a distinct...

Mumbai leads India’s housing market sales

AI Generated Image Mumbai: Mumbai continued to dominate India’s residential market in the first nine months of 2026, accounting for more than a fourth of housing sales across the country’s eight leading markets. The city recorded 72,804 residential sales between January and September, a 1% year-on-year increase, even as the overall market remained flat and the National Capital Region (NCR) witnessed an 11% decline, according to Knight Frank India. The Mumbai market also showed a distinct shift towards higher-ticket homes, mirroring a broader premiumisation trend across major cities. Homes priced above `1 crore accounted for 55% of total residential sales across the eight markets during the period, compared with 50% a year earlier. At the same time, sales of homes below `1 crore declined by around 10% year-on-year. Mumbai’s position as the country’s largest residential market was reinforced by its performance across price categories. It recorded 26,136 sales in the below-`50 lakh segment, accounting for 55% of sales in this category across the eight markets. The city also led the `50 lakh-`1 crore segment with 17,601 units and recorded 16,296 sales in the `1-2 crore category. The city was also a major driver of premium and luxury housing demand. Mumbai recorded 2,012 sales in the `5-10 crore category and 526 in the `10-20 crore segment. At the ultra-luxury end, it accounted for 331 of the 571 homes sold in the `20-50 crore category nationally, or about 58%. It also recorded 41 sales of homes priced above `50 crore, the highest among the eight markets. Supply in Mumbai remained strong, with 72,673 units launched during the nine-month period, up 13% year-on-year—the highest launch growth among the eight markets. The near-equilibrium between sales and launches indicates that developers continue to maintain a strong pipeline even as buyers become increasingly selective. Nationally, 279,899 units were launched during 9M 2026, up 4%, with launches exceeding sales for the 16th consecutive quarter. The contrast with NCR was particularly sharp. While Mumbai registered modest growth, NCR sales fell to 35,574 units, down 11% year-on-year. The correction was concentrated largely in the `5-10 crore segment, where sales fell 39% to 4,033 units. Gurugram accounted for the bulk of the correction and represented 57% of NCR’s unsold inventory. Across the eight markets, total residential sales stood at 258,238 units, broadly unchanged from 9M 2025. Bengaluru followed Mumbai with 43,140 sales, up 5%, while Pune recorded 36,402 units with no year-on-year change. Hyderabad, Ahmedabad, Chennai and Kolkata registered growth of 2-4%. The increase in higher-ticket sales comes alongside a gradual rise in inventory levels. The Quarters to Sell (QTS) metric rose to 6.1 quarters in Q3 2026 from 5.8 quarters a year earlier, marking its fourth consecutive quarterly increase and the highest level since Q2 2023. Shishir Baijal, International Partner, Chairman & Managing Director, Knight Frank India, said, “India’s residential market is entering a more discerning phase, in which the quality and relevance of supply will matter as much as the strength of demand. Sales held steady in the first nine months of 2026 as the market plateaus after several years of strong growth, and combined sales in the seven markets outside NCR rose 2% YoY. NCR’s 11% moderation has been led by the INR 5–10 crore segment, while the INR 2–5 crore segment continues to grow across most major markets, NCR included. The shift towards higher ticket sizes and a gradual rise in Quarters to Sell show that buyers are becoming more selective, pointing to normalisation rather than a broad-based slowdown. As the benefit of lower interest rates moderates, income growth, relevant new supply and local demand drivers will shape the next phase of growth across India’s leading cities.” For Mumbai, the data points to a market that is continuing to absorb substantial volumes while simultaneously moving towards higher-value housing. The city’s combination of strong sales, robust launches and dominance across premium and ultra-luxury segments keeps it at the centre of India’s residential market, even as the broader sector enters a more selective phase.

Bad Roads, Ugly Politics

Suyash Padate
Nov 1, 2024
2 min read

The pathetic state of roads in Mumbai city as well as its suburbs has made daily commute a dangerous affair. The residents are miffed with the BMC over its lackadaisical attitude. Mumbaikars tweet photos, post videos to grab attention, but everything is in vain. Who cares for the common people. Backbreaking journeys have become part and parcel of life. Political leaders are busy mud-slinging.


This year the monsoon took a break after almost four and half months. During this time some of the roads virtually became non commutable. It may be recalled that the Chief Minister Eknath Shinde first announced to make Mumbai roads pothole free.


Its almost two years now the BMC has concretised only 9 percent of roads it planned to concretise. This decision was taken when it came to light that due to the properties of bitumen in asphalt roads, potholes are a regular occurrence due to contact with water during monsoons.


Hence, to solve the problem of potholes, the corporation has adopted a policy of cement concreting of 6-meter-wide roads in phases. The decision was taken but the dilly-dallying affair made things more difficult.


Mumbai’s traffic does put a lot of strain on roads which is not the case in the other developed countries. Second most important aspect is concretisation of roads is done partly and in phases.


The worst problem which is faced is repeated digging for cables and drainage, which weakens the roads. Above all corruption in BMC makes matters worse as a result everything comes to grinding halt.


According to experts, repairing potholes is a reaction with symptomatic treatment. By and large we are dispensing superficial treatment without addressing the root cause. The long-term solution will be to have roads with no potholes but what we need is the means and technology to achieve this. But for this political will is necessary which we lack on every step.


Mumbaikar’s are convience that corruption in the municipal corporation is the main reason. Contractors have had a monopoly over the last 20 years and this is the reason why reputed companies never come ahead for these projects.


As a result, in the name of attendance and repair, the BMC does shoddy work. Crores are spent but the end result is nothing. The BMC is not paying attention to the crust. If the crust is weak, potholes will see an increase. Without any thought or technical know-how, potholes are filled with cold mix.


This is the reason why the city and suburbs continue to have craters on the roads.


Craters, a serious threat to the safety and security of people. Mumbaikars fade up from their repeated visits to orthopedic surgeons.


They are in a mood to teach a proper lesson to those who were at the helm of the affairs.

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