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Mumbai real estate market clocks 1.50 lakh property registrations in 2025, 6% higher than 2024
Mumbai real estate update: Revenue from property registrations, in the form of stamp duty, stood at ₹13,487 crore in 2025, marking an 11% increase over 2024
Mumbai’s real estate market recorded 150,254 property registrations in calendar year 2025, marking a 6% increase from 141,202 registrations in 2024, according to data from the Inspector General of Registration and Controller of Stamps, Maharashtra.
Stamp duty revenue from these registrations rose to ₹13,487 crore, reflecting an 11% increase compared to ₹12,141 crore in 2024.
On a month-on-month (MoM) basis, December 2025 reported 14,447 property registrations compared to 12,219 in November 2025, an 18% increase, followed by revenue from registrations increasing to ₹1,264 crore in December 2025 compared to ₹1,038 crore in November 2025, according to an analysis by Knight Frank India.
In December 2024, 12,418 properties were registered, and a revenue of ₹1,134 crore was reported.
According to Knight Frank India, a real estate consultancy firm, residential units constitute 80% of the overall registered properties in the Mumbai real estate market. In contrast, non-residential assets comprise the remaining 20%.
The Mumbai real estate market delivered its strongest housing market performance in 14 years in 2025, underscoring both volume-led strength and improving transaction values, according to Knight Frank India's annual report.
“2025 marked a steady and mature phase for Mumbai’s housing market, with property registrations crossing 1.50 lakh, the highest level seen in the last 14 years. This milestone is a strong indicator of\ the underlying resilience and depth of the market, driven by sustained end-user demand and a far more supportive supply-side ecosystem. Rising stamp duty collections reflect a gradual improvement in per unit transaction values," Shishir Baijal, International Partner, Chairman and Managing Director, Knight Frank India, said.
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"This strength is reinforced by a significant improvement in affordability, with Mumbai now at 47%, a sharp correction from levels where EMIs once consumed as much as 97% of household income. This shift clearly demonstrates that, at the right price points and with the right product offerings, homebuyers in Mumbai are both willing and able to commit capital,” Baijal said.
Mumbai registration momentum continues to tilt toward the higher price bracket
According to the Knight Frank India report, registration momentum in Mumbai continues to tilt toward the higher price brackets. Homes priced above ₹5 crore accounted for 7% of total registrations in December 2025, up from 6% the previous year, reflecting demand in the luxury segment.
Meanwhile, the less than ₹1 crore range saw its share decline as affordability challenges weighed on buyer sentiment in this bracket. The ₹2 to ₹5 crore range remained stable, while the share of properties worth ₹1 to ₹2 crore increased from 30% in 2024 to 32% in 2025, the report stated.
Properties up to 1,000 sq ft continue to lead in registrations in December 2025
According to the report, units up to 1,000 sq ft accounted for 82% of all registrations, in line with last year's figures. The 500–1,000 sq ft segment was the most preferred, striking a balance between affordability and usable space for end-users. Larger homes retained a niche buyer base, with units of 1,000–2,000 sq ft edging up to 15%, and the share of apartments above 2,000 sq ft stood at 3%.
Where are homebuyers purchasing apartments in Mumbai?
According to the report, the suburban markets continued to anchor activity. Western and Central Suburbs accounted for 86% of the total registrations in December 2025. The Western Suburbs led with 57%, while the Central Suburbs contributed 29%. In contrast, South Mumbai held at 7%, and Central Mumbai slipped to 7%.
