Mumbai redevelopment share reaches 15% of housing sales

Mumbai redevelopment accounted for 15% of housing sales in 2025–H1 2026, compared with 6% in 2016–21, according to the presentation’s market data. That nine-percentage-point increase occurred as Mumbai Metropolitan Region (MMR) available inventory reached 198,050 units in Q2 FY27 and Mumbai redevelopment represented 13% of overall supply.

Why has Mumbai redevelopment's housing-sales share increased?

Mumbai redevelopment's share of housing sales increased to 15% in 2025–H1 2026 from 6% in 2016–21. The presentation identifies this as a growing share of the Mumbai housing market, with the later-period figure 9 percentage points above the earlier one. In the same 2025–H1 2026 period, Mumbai redevelopment accounted for 13% of overall supply, 2 percentage points below its sales share.

The figures show that Mumbai redevelopment became more prominent in the sales mix across the periods presented. The presentation does not provide annual redevelopment shares between 2016–21 and 2025–H1 2026, or a project-level explanation for the increase. It places the 15% sales-share figure beside the 13% supply-share figure for 2025–H1 2026.

Mumbai redevelopment operates within a broader MMR market where MMR accounted for 25% of new units launched across the compared markets in Q2 FY27. That share was 24% in CY26 and 23% in CY25, compared with 31% in CY22. These figures concern MMR launches rather than redevelopment specifically, but provide the regional context for Mumbai redevelopment’s change in sales mix.

How did MMR housing sales and launches change in Q2 FY27?

MMR sales rose to 25,449 units in Q2 FY27 from 24,170 in Q1 FY27 and 24,706 in Q2 FY26. That was an increase of 1,279 units from the previous quarter and 743 units from the year-earlier quarter. Among the four cities listed, MMR recorded more unit sales than Bengaluru’s 15,172, Pune’s 11,512 and Hyderabad’s 9,876 in Q2 FY27.

New launches in MMR also increased, reaching 37,500 units in Q2 FY27, compared with 34,550 in Q1 FY27 and 29,550 in Q2 FY26. Sales were 31,750 units in Q2 FY27 in the presentation’s separate launches-versus-sales series, which differs from the 25,449 units shown in the city-comparison table. The presentation does not reconcile the two series, so each should be read in its stated context.

The launches-versus-sales series shows launches exceeding sales by 5,750 units in Q2 FY27, after a 5,850-unit gap in Q1 FY27. In Q2 FY26, sales exceeded launches by 750 units. This shift coincided with MMR available inventory of 198,050 units at September 2026, although the presentation does not assign the inventory change to Mumbai redevelopment projects.

What do MMR prices and launch budgets show?

Mumbai had a weighted-average price of Rs 37,064 per square foot in Q2 FY27, up 5% year on year. This was above Thane at Rs 15,005 per square foot, up 3%, and Navi Mumbai at Rs 13,847 per square foot, up 4%. The presentation labels all three as MMR sub-markets, with Mumbai’s quoted level differing from the other two areas.

In the major-city comparison, MMR’s average price realisation was Rs 17,950 per square foot in Q2 FY27. That compared with Rs 9,980 in the National Capital Region, Rs 9,600 in Bengaluru, Rs 8,420 in Pune, Rs 8,200 in Hyderabad, Rs 7,345 in Chennai and Rs 6,500 in Kolkata. This series is measured as base selling price on saleable built-up area, while the sub-market series uses weighted-average prices, so the figures are not directly interchangeable.

The largest share of MMR launches by budget in Q2 FY27 was below Rs 40 lakh, at 26%, followed by the Rs 40 lakh to Rs 80 lakh segment at 25%. Homes priced from Rs 1.5 crore to Rs 2.5 crore represented 21%, while the Rs 80 lakh to Rs 1.5 crore segment represented 18%. The Rs 2.5 crore to Rs 4 crore category accounted for 7%, and homes above Rs 4 crore accounted for 3%.

How much available housing inventory does MMR have?

MMR had 198,050 available units in Q2 FY27, with an inventory overhang of 19 months. Available stock increased from 192,300 units in Q1 FY27 and 176,300 units in Q2 FY26. The 21,750-unit increase from September 2025 to September 2026 coincided with Q2 FY27 launches of 37,500 units and sales of 31,750 units in the launches-versus-sales series.

The inventory figure covers MMR as a whole rather than Mumbai redevelopment alone. The data therefore support the finding that Mumbai redevelopment’s sales share reached 15% while regional available stock reached 198,050 units, but do not establish how many available units arose from redevelopment. The 13% supply share also applies to 2025–H1 2026, not specifically to Q2 FY27 inventory.

MMR launches rose from 29,550 units in Q2 FY26 to 37,500 in Q2 FY27, while the presentation states an overhang only for Q2 FY27, at 19 months. It does not provide an earlier overhang comparison or a forward inventory estimate. It also does not separate future launches, sales or inventory between Mumbai redevelopment and other MMR supply.

Conclusion

The data show Mumbai redevelopment taking a larger place in housing sales, with its 15% share in 2025–H1 2026 exceeding both the 6% recorded in 2016–21 and its 13% share of supply in the later period. At the wider MMR level, Q2 FY27 launches of 37,500 units were higher than sales of 31,750 units in the launches-versus-sales series, alongside 198,050 available units.

The next point to watch is whether subsequent market data clarify the difference between the two Q2 FY27 MMR sales series, which show 25,449 units and 31,750 units, respectively. The presentation also leaves unresolved the redevelopment contribution to the 19-month inventory overhang and whether Mumbai redevelopment’s 15% sales share persists after H1 2026.