Mahalaxmi Home Sales Value Jumps Six-Fold To ₹15,812 Crore

Data from real estate research company Liases Foras reveals that the value of residential property sold in the Mahalaxmi catchment area—spanning the 400018, 400013, and 400034 pin codes—rose from ₹2,377.52 crore in FY2022-23 to ₹15,812.02 crore in FY2025-26. The South Mumbai market, which competes with neighboring Worli and Lower Parel, saw the number of residential units sold jump from 329 to 845 during the same three-year period. In the ongoing fiscal year, 82 units have been sold so far.

Average flat prices in the catchment experienced a steep upward trajectory over recent fiscal years. According to the data, the average cost of a flat in the area rose from ₹9.25 crore in FY2022-23 to ₹11.93 crore in FY2023-24, before climbing to ₹23.29 crore in FY2024-25 and peaking at ₹27.30 crore in FY2025-26. In the ongoing FY2026-27, the average flat cost stands at ₹26.80 crore. Sales velocity also increased from 0.86% in FY2022-23 to 1.59% in FY2025-26, before moderating slightly to 1.50% in FY2026-27.

Infrastructure developments have strengthened connectivity to the neighbourhood, including the operational Metro 3, the Coastal Road, and the Atal Setu. Developers have added new projects to the local skyline, including Altitude at 7 Mahalaxmi by Runwal Enterprises, a luxury residential tower rising to approximately 306 metres.

Despite strong growth in sales value, inventory accumulation remains a challenge for the area. Unsold stock grew from 1,312 units in FY2022-23 to 2,194 units in FY2025-26, before declining to 2,015 units in the current fiscal. The financial value of unsold inventory rose from ₹12,144.84 crore in FY2022-23 to ₹59,904.29 crore in FY2025-26, with homes worth ₹54,007.51 crore currently awaiting buyers. Consequently, the inventory overhang increased from 31 months in FY2025-26 to 74 months in FY2026-27.