Mumbai’s Luxury Apartment Prices Reach New York Levels
Worli emerges as India’s ultra-luxury hotspot as premium real estate demand surges
GG News Bureau
Mumbai, 5th Dec: Premium apartment prices in Mumbai have reached levels comparable to some of the most expensive neighbourhoods in New York, according to a new report that highlights the rapid rise of wealth and luxury real estate in India’s financial capital.
The study by real estate consultancy Anarock Group and wealth management firm 360 One Wealth reveals that apartments in Worli—one of Mumbai’s most coveted high-end districts—are priced as high as ₹1,00,000 per square foot, a rate on par with Lower Manhattan.
The report notes that India’s affluent buyers are increasingly investing their wealth domestically, driving substantial demand in premium enclaves. Worli alone now accounts for 40% of the country’s ultra-luxury apartment market valued above ₹40 crore.
The district has recorded more than 20 residential transactions priced above ₹100 crore over the past three years, underscoring its status as a preferred location for high-net-worth individuals. Anarock Chairman Anuj Puri said the surge reflects both rising domestic wealth and constrained availability of prime land.
Currently, 40–50 lakh sq ft of premium residential and retail space is under construction in Worli, with the residential projects alone valued at over ₹19,000 crore. Since 2023, land deals worth ₹7,600 crore have been finalised in and around the locality, translating into an estimated revenue potential of ₹36,000 crore.
The report suggests that Mumbai’s luxury housing market will continue to expand as domestic capital flows strengthen and developers increase their focus on high-value projects.
