Mumbai recorded 4,680 property registrations during the nine-day Navratri period, down 25% from 6,238 registrations during the corresponding period last year. Revenue from property registrations declined 15% year-on-year (YoY) to ₹499 crore, according to IGR data accessed by Knight Frank India.
Navratri was celebrated from October 11 to 19 this year, compared with September 22 to October 1 in 2025.
The decline can partly be attributed to a higher base in the previous year, when Navratri extended over 10 days and included only one Sunday, allowing nine working days for registrations. In contrast, this year's festival period of 9 days included two Sundays, leaving seven working days. The lower number of working days, coupled with some moderation in demand, contributed to the festival season's decline, Knight Frank India told Hindustan Times.
The average number of registrations per working day moderated to 669 units in 2026 from 693 units in Navratri 2025. Collections fell 15% year over year to ₹499 crore from ₹587 crore in Navratri 2025, while average daily collections declined from ₹59 crore to ₹55 crore, the data showed.
The decline follows a strong performance last year, when registrations had risen 20% YoY, marking the highest festive-period tally in the years covered by the report.
"Navratri registrations have moderated against the high base set last year, but the daily figures offer a more measured view of the market activity. Registrations per working day remained above 2024 levels in 2026, while revenue has declined less sharply than transaction volumes. Together, these trends suggest that Mumbai’s housing market continues to see buyer participation, even as festive-period activity normalises,” Shishir Baijal, International Partner, Chairman and Managing Director, Knight Frank India.
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“The next phase of market performance will depend on how demand evolves across price segments and how effectively housing supply aligns with buyer preferences,” he said.
Shraddh period registers higher volume of property registrations
In contrast to Navratri, Shraddh, traditionally considered inauspicious for large purchase and usually a subdued period for property purchases, actually registered a moderately higher volume of property registrations as compared the corresponding period last year.
In the period from September 26 to October 10, this year, Mumbai recorded 3,419 registrations, up 2% from 3,368 in 2025, the data shared by Knight Frank India showed. Average daily registration rose from 306 to 311 on a yearly comparison. Revenue collections, however, declined 4% YoY to ₹265 crore in 2026 from ₹265 crore in 2025. Average daily collections fell from ₹24 crore to ₹24 crore, it showed.