Lodha Group dominates Mumbai MMR’s residential market, leading in registered sales value while securing the second position in transaction volume. Conceptual Advisory Services tops in residential transaction volume, followed by Dosti Group and Godrej Properties. While, Godrej Properties and Oberoi Realty stand out among the top 10 developers with the highest registered home sales value after Lodha Group.
The Mumbai Metropolitan Region (MMR) residential market including apartments, plots, and villas recorded a total of 68,082 registered units in the December quarter of 2024, marking a 5% increase from the previous quarter, according to Inspector General of Registration (IGR) data review by Square Yards.
The total registered home sales value for the quarter stood at Rs. 68,025 crore, reflecting an 11% rise compared to the September 2024 quarter. The increase in transaction volume and value has pushed the average registered sales value per unit to Rs. 1 crore, up by 7% from Rs. 94 lakh in the previous quarter.
Ganesh Devadiga, Sales Director, Square Yards said, “The Mumbai MMR residential market has maintained strong momentum, with both transaction volumes and gross sales value continuing to rise. While peripheral markets account for the bulk of residential transactions, western and southern suburbs drive gross sales value. Redevelopment in central and southern Mumbai is reshaping the market, creating new opportunities for both homebuyers and developers. At the same time, infrastructure upgrades in peripheral locations will enhance connectivity, making these areas increasingly attractive for end-users. Overall, we anticipate residential demand fundamentals to remain strong in Mumbai and its metropolitan region, supported by economic expansion and urban infrastructure growth.”
Market Leaders and Key Projects
Conceptual Advisory Services led the market with 973 registered residential transactions, driven largely by its flagship project, Suraksha Smart City in Vasai East. Lodha Group followed with 852 transactions, with Lodha Crown in Thane West being a standout performer. Dosti Group ranked third with 589 transactions, bolstered by its Dosti West County, also located in Thane West.
When it comes to registered home sales value, Lodha Group topped the list with Rs. 1,787 crore, thanks to the strong performance of Lodha Bellevue in Mahalaxmi. Godrej Properties secured the second position with Rs. 1,460 crore, largely attributed to Godrej Reserve in Kandivli. Oberoi Realty ranked third with Rs. 1,340 crore, supported by Oberoi Three Sixty West in Worli. Notably, several celebrities such as Shahid Kapoor and Abhishek Bachchan, along with industrialists and entrepreneurs, own apartments in this project, according to Square Yards’ review of IGR property registration documents.
