The festive season is here. For many it is not just a time for celebrations but also about investing into new assets. According to the brokerage report by Nuvama, September 2025 marked a record-breaking month for housing registrations in the city.
With Ganesh Chaturthi and Navratri festivals driving demand, both the number and value of registered homes soared to their highest-ever September levels.
Let’s take a look at what is the brokerage say on this sector and the stocks –
Property stocks in spotlight: Nuvama lists out key beneficiaries
The brokerage house Nuvama has identified some listed Mumbai-based developers as potential beneficiaries of the festive boost. According to the brokerage house, these include Lodha, Oberoi, Godrej Properties, Sunteck, and Rustomjee. These companies are well-positioned to capture demand in both luxury and mid-segment markets, with launches and strategic locations offering an edge during the season.
Mumbai housing registrations hit new highs
As per the brokerage report, “The number of housing units registered in Mumbai surged 32% YoY/7% MoM to 12,070 units during Sep-25.”
The total value of these units also climbed sharply to INR 215 billion, up 47% YoY and 29% MoM. The average ticket size of homes rose 11% YoY to Rs 17.8 million. The residential properties dominated the market. This accounted for roughly 80% of total registrations.
On the other side, luxury homes priced above Rs 50 million continued to gain traction. The brokerage in its report noted that affordability challenges have reduced the share of smaller units priced below Rs 10 million.
“The Western suburbs continued to dominate demand, contributing more than half (~59%) to the overall registrations in Sep-25,” the report added. Central suburbs accounted for 29%, while South and Central Mumbai combined contributed just 13%. As per the report, on a year-to-date basis, the registrations have already crossed 111,938 units. This is up 6% YoY, with the total value hitting Rs 1.7 trillion, marking an all-time high.
Why this matter: 3 key reasons you need to know
The brokerage house Nuvama, in its report, noted that the surge in registrations is being driven by three key factors. This include –
Firstly, the festive season. This season has historically boosted real estate activity. In this period, buyers take advantage of auspicious timings to make high-value purchases.
Secondly, the brokerage house believes a strong launch pipeline combined with potential mortgage rate cuts could further enhance sales in Mumbai.
And thirdly, the rising interest in luxury and mid-segment properties. This suggests a shift in buyer preferences. This indicates the larger homes and premium properties capturing more attention.
However, Nuvama also noted concerns as well. “Affordability emerges as a key concern,” the report stated. With supply sharply increasing, the market is now in a mid-cycle stage, which may limit significant price growth in the near term. Demand has already crossed the peak of the previous upcycle, and persistent issues like weak volume growth for mid-income homes and uneven job generation could keep stocks volatile and range-bound.