Property sales in Mumbai dip by 11.33% in August

Registration data available with Maharashtra’s Inspector General of Registration and Controller of Stamps (IGRCS) shows that the realty market is down by 11.33% month on month (July and August) and 3.51% compared to last August

MUMBAI: Property sales in Mumbai have taken a hit. Registration data available with Maharashtra’s Inspector General of Registration and Controller of Stamps (IGRCS) shows that the realty market is down by 11.33% month on month (July and August) and 3.51% compared to last August.

Monsoon Clouds - Real Estate - Housing - Highrise Buildings - Skyscrapers - Arabian Sea - Mumbai Skyline - Aerial View of Mumbai - HT Photo by Hemant Padalkar 26-07-2007

Real-estate pundits are of the view that there could be a further fall in sales if India does not manage to get the US tariffs rolled back. Donald Trump has levied a 50% tariff and 1% penalty on several Indian goods and services, which is anticipated to have an adverse impact on the Indian economy, including a potential increase in unemployment levels. The tariffs came into effect from August 27.

The IGRCS statistics show that in August 2025, 11,230 property sale documents were registered as compared to 12,579 in July, an 11.33% month-on-month dip. In terms of revenue, this works out to ₹1,000.46 crore in August as against ₹1,123.03 crore in July.

When the figures are compared year on year, in August 2024, 11,632 sale agreements were registered with the government, with the state coffers bagging ₹1,061.65 crore. This is 5.76% revenue less than this year despite the Maharashtra government increasing ready reckoner rates across the state from April 1, 2025.

The mounting trade tensions between India and the United States after the imposition of the 50% tariff, if not negotiated into moderation, will massively impact many critical, yet vulnerable sectors that drive India’s affordable housing segment. “The category of homes priced at ₹45 lakh or less was already gravely hit by the Covid-19 pandemic and is still struggling to find any semblance of firm ground. Trump’s mercenary tariffs will snuff out even the dimmest ray of hope for this segment,” said Dr Prashant Thakur, executive director, Research & Advisory, ANAROCK Group.

A builder told HT that what his community feared, apart from a fall in sales, was default in payment and cancelled bookings if there was a rise in unemployment levels. “We will have to be innovative in our marketing strategy as well as sensitively consider such cancellations on a case-to-case basis by providing some flexibility in payment plans,” he said.

Shishir Baijal, chairman & MD of Knight Frank India, however, claimed that Mumbai’s housing market had remained consistent in 2025, with monthly registrations staying above 11,000 and revenue collections crossing ₹1,000 crore.

“While August saw a modest 3% dip, the city remains firmly on track, inching towards the 1,00,000 registration milestone for the year,” he said. “The demand for homes up to 1,000 sq ft continues to remain resilient, and transactions in the ₹5 crore-plus segment have also held steady. Together, these trends underline the strength of end-user activity and the market’s enduring momentum.”