Improved sales momentum, with inventory absorption progressing across key growth corridors

• Residential unit sales are up 7% q-o-q, although full-year sales show a 2% decline y-o-y. Demand volume is driven by growth clusters in the suburbs and satellite cities, with infrastructure, connectivity and attractive pricing as key drivers.
• Navi Mumbai led quarterly sales (34.5%), followed by Thane (14.4%) and Eastern Suburbs I (13.2%). These growth corridors remained attractive, while demand also remained healthy across other submarkets.

New launches up q-o-q, with mid-range price brackets dominating the supply mix

• New launches in Q1 2026 totalled 15,823 units, reflecting a 26.6% q-o-q increase and a 3.5% y-o-y increase, demonstrating resilient supply conditions despite concerns over rising overhang in certain clusters.
• Navi Mumbai led new supply with a 30.3% share, followed by Thane (16.7%) and South Central (12.9%). The INR 15-30 million price bracket recorded the highest share of launches at 24%, followed by the INR 30-50 million segment (23%).

Capital values rose across all submarkets while rents strengthened in premium clusters

• Capital values continued to grow across all submarkets, with overall city-level prices up 6.5% y-o-y. South Mumbai posted the highest quarterly capital value increase, driven by high ticket-size launches.
• Rents grew 0.9% q-o-q on an overall basis, with South Mumbai and North Mumbai maintaining their premium, while rental growth was faster in the denser suburbs and other growth corridors.

Outlook: Residential market expected to sustain momentum amid infrastructure-led growth

• The operational Navi Mumbai International Airport and the Atal Setu have transformed Navi Mumbai and the surrounding region into a high-demand urban hub, causing property prices in micro-markets like Ulwe and Panvel to surge.
• Price growth is expected to vary, with suburbs and growth corridors expected to reap the benefits of improved connectivity, while core city clusters will continue to redefine luxury living through record-breaking deals and amenity-rich projects.