Mumbai's real estate market experiences a typical monsoon slump, but post-COVID-19, pent-up demand and waterlogging have significantly influenced pricing and transaction volumes.
Forbes India explores luxury real estate trends, driven by high-net-worth individuals and booming equity markets. It showcases opulent homes and architectural innovations.
Mumbai's real estate market is booming post-pandemic, attracting developers from across India with rising luxury home sales and significant investment opportunities.
In Mumbai, short-term property rentals (2-6 months) are possible but often come with higher costs due to limited availability and landlord premiums.
Red Fox IT Infra LLP, a Redbrick Offices subsidiary, acquired over 87,000 sq ft of office space in Mumbai's Times Square for ₹267.5 crore across two deals, paying ₹8.02 crore in stamp duty.
Indian high-net-worth individuals increasingly choose London for real estate investments, drawn by favorable market conditions and educational prospects for their children.
JLL reports 56 Joint Development Agreements (JDAs) signed between landowners & developers in India, covering 1,546 acres, with 97% for residential projects, from Jan 2023 to Jun 2024.
Amitabh Bachchan invested over ₹100 crore in real estate in Ayodhya, Alibaug and Mumbai. Office spaces were purchased in Mumbai's Signature building.
Mumbai's property registrations rose by 11% in June 2024, with a significant increase in stamp duty collections, showcasing the market's resilience and growing buyer confidence.
A prime property in Juhu Vile Parle Development, Mumbai, is set to be auctioned due to failed payments to State Bank of India and Union Bank of India. The residential building houses Bollywood celebrities like Sara Ali Khan, Arjun Kapoor, and Shatrughan Sinha.
Mumbai's rental market growth, driven by redevelopment projects, is cooling down in 2024. Increased supply of redeveloped homes is stabilizing rents after a surge between 2021 and 2023.
Developers from Bengaluru and Mumbai increase footprint in each other's cities, driven by growth, sales velocity, and better margins, with some finding lower land prices in Bengaluru attractive.
Gated villas in Goa are an appealing investment for young professionals due to attractive capital appreciation and rental yields. Prices have seen substantial growth in Grade A and B locations.
The Maharashtra government has approved transferring a 21-acre plot for Dharavi Redevelopment, aiding slum rehabilitation efforts with enhanced housing standards.
India's luxury real estate market is booming, driven by rising affluent buyers, NRI investments, and demand for large homes, especially in cities like Mumbai and Goa.
Karan Bhagat buys two sea-view units in Oberoi Realty’s Three Sixty West for over Rs 170 crore, among other high-end transactions in Mumbai’s luxury market.
DLF plans to enter Mumbai residential market with flats priced between Rs 6 and 8 crore, and launch 62 villas in Goa priced between Rs 40-50 crore.
Delta Corp is launching a real estate development platform in MMR with an investment of Rs 765 crore, focusing on residential redevelopment and plotted development.
Construction and real estate hiring in India surged 86% between March 2023 and 2024, with Delhi, Bangalore, and Mumbai leading the demand, according to Indeed.
Mumbai saw 11,504 property registrations in April 2024, generating over INR 1,043 crore in revenue. Real estate developers are optimistic about growth, citing increased demand and infrastructure projects.
Duplex and triplex homes are the new trend in Mumbai, particularly among luxury homebuyers seeking larger properties. Vertical living is gaining popularity over horizontal spreads.
The construction and real estate sector witnessed an 86% surge in employment between March 2023-24, with Delhi, Bengaluru, and Mumbai leading hiring activity.
The Asia-Pacific real estate market faces volatile conditions driven by interest rate changes, although the concerns around COVID have lessened. India's investments have risen by 16%.
India's luxury housing market saw a 10% YoY sales surge in Q1 2024, with Mumbai leading the demand. Driven by rising incomes and spending power, the segment is poised for continued growth.
Mumbai's real estate market saw a 9% increase in property registrations and a 16% increase in stamp duty collections in April 2024, with millennials making up 37% of buyers.