Key Points

The Mumbai Metropolitan Region (MMR) was among the worst-hit, with sales falling 34 per cent, from 84,465 units in H1 2024 to just 62,890 units in H1 2025.

India's housing market witnessed a sharp slowdown in the first half of 2025, with home sales falling significantly across major cities.

Along with more registrations, the state government earned a record Rs 6,699 crore in revenue, which is 14 per cent higher than last year's Rs 5,874 crore.

In June alone, 11,211 properties were registered, bringing in Rs 1,004 crore in revenue. Though slightly fewer than the 11,673 registrations in June 2024, this year's revenue was almost the same - showing buyers are spending more on costlier homes.

Anuj Puri, Chairman of ANAROCK Group, said, "While registrations dipped slightly - about 4% lower than June 2024's 11,673 deals - this year's revenue held firm, matching almost last year's figure. In fact, June 2025's revenue was just 1% lower than last year, highlighting the market's resilience despite a marginal drop in transactions. Mumbai's real estate continues to deliver strong numbers, even as the pace has cooled a bit."

Interestingly, even though housing sales across the Mumbai Metropolitan Region (MMR) dropped by 32 per cent in H1 2025, registrations in Mumbai city remained high.

This is largely because of a rush in March 2025, when buyers hurried to register properties before the 3.9 per cent increase in ready reckoner rates for FY26. That month alone saw 15,501 registrations and over Rs 1,589 crore in revenue.

Another trend this year is the rise in average home prices. In H1 2025, the average ticket size of homes was Rs 1.60 crore, higher than Rs 1.56 crore in H1 2024, and much higher than Rs 1.02 crore in 2021. This shows that Mumbai is seeing more sales of high-value homes than affordable ones.

- ANI