Mumbai, India’s largest and most expensive property market, kicked off the festive season with remarkable momentum, as property registrations surged during the nine-day Navratri festival.
This growth reflects the rising buyer confidence and reaffirms the sustained demand for home ownership in the city. With developers offering attractive loan schemes and the cultural significance of investing during festivals, Mumbai’s real estate market is now gearing up for a promising Diwali ahead.
This culturally significant period, seen as an ideal time for new beginnings, offers homebuyers a perfect opportunity to make investments. Developers are witnessing a surge in demand, fuelled by attractive home loan schemes, favourable interest rates, and the positive sentiment associated with festivals.
"The festive season in Maharashtra is a vital period for home buying, embodying deep cultural significance and auspiciousness that inspire families to invest in their future. With attractive home buying offers, a resurgence in consumer confidence coupled with the importance of home ownership among buyers, we expect to see strong growth in the real estate market, making this an exhilarating time for prospective homeowners," said Prashant Sharma, President, NAREDCO Maharashtra.
"Festivals have always been a driving force in Mumbai's real estate market. The auspicious nature of this season inspires families to make significant investments, particularly in home-ownership. With competitive interest rates, this festive period offers a unique opportunity for buyers to invest in real estate, and many are eagerly seizing the chance to turn their dream of owning a home into a reality,” added Govind Krishnan Muthukumar, Managing Director & Co-founder of Tridhaatu Realty.
Consumer confidence has experienced a revival in the wake of the pandemic, prompting many to prioritize long-term investments like real estate. The demand for larger luxurious living spaces and ultra-luxury villas, has led families to seek homes that accommodate their evolving lifestyle needs.
Speaking on catering to this elite segment Vikas Sutaria, Founder at Iraah Lifespaces, said, “The evolving trend toward destination living is pushing demand for ultra-luxury villas in places like Alibaug and Lonavala, which are emerging as preferred getaway destinations near Mumbai. These villas appeal to high-net-worth individuals seeking exclusivity and serenity and there could not be a better time to invest than this festive season.”
Highlighting about the trend of integrated townships, Sandeep Sonthalia, CEO, Wadhwa Wise City explained, “The trend of integrated township living continues to gain traction, with families seeking lifestyle-rich environments and open green spaces. We are excited to see increasing demand for plotted developments and integrated communities."
Beyond the suburbs, Central and South Mumbai are also witnessing heightened interest from homebuyers. According to Vedanshu Kedia, Director of Prescon Group, “Redevelopment projects and premium offerings in South Central Mumbai continue to attract buyers. The festive season is accelerating this trend, with families preferring to invest in homes that promise long-term value and excellent location benefits.”
With favourable market dynamics and developers rolling out enticing festive offers, Mumbai’s real estate sector is poised for a vibrant season ahead. As buyers look for homes that align with their lifestyle aspirations and financial goals, the convergence of tradition and opportunity is making this Diwali a landmark moment for many.
