Navi Mumbai leads residential sales and new launches

The city accounted for over 30% of sales and launches in Q1.

Residential demand in Mumbai strengthened during the first quarter of 2026, with sales increasing 7% quarter-on-quarter as inventory absorption improved across key growth corridors, according to JLL.

While full-year sales remained 2% lower than a year earlier, demand continued to be driven by suburban and satellite city markets benefiting from improved infrastructure, connectivity and competitive pricing.

Navi Mumbai accounted for 34.5% of quarterly sales activity, followed by Thane at 14.4% and the Eastern Suburbs I submarket at 13.2%.

New project launches totalled 15,823 units during the quarter, rising 26.6% quarter-on-quarter and 3.5% year-on-year. Navi Mumbai again led supply additions with a 30.3% share, followed by Thane and South Central Mumbai.

JLL said the INR15 million to INR30 million segment represented the largest share of launches at 24%, closely followed by the INR30 million to INR50 million category at 23%.

Capital values increased across all submarkets, with overall citywide prices rising 6.5% year-on-year. South Mumbai recorded the strongest quarterly increase, supported by high-value project launches.

Rental values also strengthened, increasing 0.9% quarter-on-quarter, with premium locations such as South Mumbai and North Mumbai maintaining their pricing advantage.

Looking ahead, JLL expects infrastructure projects including the operational Navi Mumbai International Airport and Atal Setu to continue reshaping demand patterns. Growth corridors such as Ulwe and Panvel are expected to benefit from improving connectivity, while core city locations are likely to remain focused on luxury developments and high-value transactions.