Luxury housing sales worth Rs 12.3 billion sold in Mumbai

15 Jul 2024 CW Team

According to a report by India Sotheby?s International Realty and CRE Matrix, the luxury housing market in Mumbai, India?s largest and most expensive property market, is experiencing significant growth driven by unprecedented sales numbers. It was noted that sales of luxury homes priced at Rs 10 crore and above in Mumbai had increased by 8%, reaching a new high of Rs 12.3 billion in the first half of 2024. This represents a substantial rise from the average bi-annual sales of Rs 71 billion observed since 2019. The report highlighted that the ongoing demand for high-end properties reflects a strong sense of optimism and confidence in the Indian economy. Factors such as rising disposable incomes, favorable government policies, and increasing interest from both domestic and international investors were cited as contributing to this upward trend. Furthermore, the development of modern infrastructure and premium amenities in luxury residences is reportedly attracting affluent buyers, further stimulating growth in the market. It was also mentioned that a record-breaking total of 1,040 luxury units were sold in Mumbai over the past 12 months, marking the highest number ever recorded in any 12-month period. This surge underscores the robust and sustained demand for luxury housing in the city.

Resources

03 Jun 2026

Jyoti Structures Launches Heat Safety Drive Across Sites

Jyoti Structures (JSL) has strengthened heat safety measures across its project sites and manufacturing facilities as temperatures rise across India. The company has implemented a Summer Safety Plan covering all transmission line projects to address risks related to heat stress, dehydration and worker fatigue.The initiative includes rescheduling work away from peak afternoon temperatures, provision of drinking water, ORS and lemon-salt solutions, and installation of rest shelters near work areas. Daily toolbox talks, worker health monitoring, first-aid preparedness, emergency transport arrange..

MHADA Declares 82 Buildings Most Dangerous in Central and South Mumbai

The Maharashtra Housing and Area Development Authority (MHADA) has declared 82 buildings as most dangerous across Central and South Mumbai and has appealed to residents to vacate immediately. The list, prepared after structural assessments by the authority, identifies buildings judged to pose imminent risk to occupants and to passersby. Local civic bodies have been asked to coordinate evacuations and to make arrangements for temporary shelter and rehabilitation for displaced households. Officials said the authority prioritised buildings with visible structural distress, severe cracking, tiltin..

Damage Reported At Halwara Airport Terminal After First Rains

Severe damage was reported at the terminal of Halwara Airport during the first major rain spell of the season, prompting immediate concern among aviation and local authorities. Images from the site showed water ingress and visible deterioration of the terminal interior, affecting passenger areas and ancillary services. The airport authority suspended certain operations temporarily to assess structural safety and ensure passenger wellbeing. Preliminary inspections have prioritised electrical systems and roof seals to prevent further water ingress. State aviation officials ordered a formal inqui..