Mumbai’s real estate market appears to be performing strongly in the third quarter of 2025. According to the latest report by Knight Frank India, Mumbai witnessed the highest number of residential home sales during July to September 2025, with the highest number of 24,706 homes sold across India, which is 2 percent more than the previous year. Residential prices in Mumbai also recorded a 7 per cent increase during this period, driven by steady demand in the higher price segment (above ₹1 crore). However, new project launches declined by 19 per cent, leading developers to focus on capital conservation and faster project completion.
Mumbai also performed well in the office market. Average rents increased 11 percent year-over-year, marking the thirteenth consecutive quarter that rents saw stable or positive growth. However, office transaction volumes declined by 27 percent. Mumbai, Bengaluru and Delhi-NCR together represent half of the country’s office transaction volume. The availability of new office space in Mumbai increased by 94 percent during this period, which is a huge increase compared to last year.
Ghulam Zia, Senior Deputy Director, Knight Frank, said demand for premium Grade A space in Mumbai continues to be strong, positioning the city as a major commercial hub. He said this stability indicates market maturity and demand.
According to the report, 14,538 houses were sold in Bengaluru but a decline of 2 percent was seen on an annual basis. 12,955 houses were sold in Delhi-NCR, which shows a decline of 5 percent. The biggest decline was recorded in Pune, where sales declined by 8 percent. In the southern markets, Hyderabad and Chennai have seen growth of 5 and 12 per cent respectively, while Ahmedabad has seen a marginal boost of 3 per cent.