Mumbai's real estate market saw property registrations remain steady in February 2025, with 12,066 properties registered compared to 12,056 in the same period last year, according to data from the Maharashtra Inspector General of Registration (IGR).
However, stamp duty collections increased by six per cent in February 2025, totalling ₹935 crores, compared to the ₹885 crores collected in February 2024. In terms of month-on-month comparison, January 2025 saw 12,2249 properties registered, with stamp duty collections amounting to ₹994 crore.
Residential property registrations continued to dominate in February 2025, accounting for 80% of all registrations in the Mumbai real estate market, according to Knight Frank India, a real estate consultancy firm.
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Property registrations have moderated in the Mumbai real estate market
According to Knight Frank India, property registrations have moderated but are indicating a phase of stabilisation.
"Despite the moderation, the city recorded its second-best performance for the month of February on record in terms of property registration indicating a phase of stabilisation. Notably, registrations have consistently remained above 10,000, significantly higher than pre-pandemic levels. This sustained activity reflects a healthy market, driven by positive homebuyer sentiment, steady economic conditions, and ongoing large-scale infrastructure development," Knight Frank India said in its monthly report.
{{/usCountry}}"Despite the moderation, the city recorded its second-best performance for the month of February on record in terms of property registration indicating a phase of stabilisation. Notably, registrations have consistently remained above 10,000, significantly higher than pre-pandemic levels. This sustained activity reflects a healthy market, driven by positive homebuyer sentiment, steady economic conditions, and ongoing large-scale infrastructure development," Knight Frank India said in its monthly report.
{{/usCountry}}"The Mumbai property market has consistently recorded over 11,000 properties per month; however, the rate of growth has moderated. In February 2025, the city continued to record sequential growth in per-day registrations of 4% sequentially, which was largely supported by the premium segment," said Shishir Baijal, Chairman & Managing Director, Knight Frank India.
"High–end segment, particularly ₹5 crore plus, recorded an annual growth of 15% YoY. Contrary to this, the lower ticket size segment of ₹50 Lakhs and below saw a notable reduction in demand of 19% YoY. As Mumbai’s economy expands and infrastructure developments progress, the city’s property market can continue to benefit from this strong growth potential," Baijal added.
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Properties up to 1,000 sq ft continue to lead in registrations
According to the data, apartments measuring between 1,000 and 2,000 sq ft gained popularity in February 2025, with their share of registrations increasing from 8% to 13%.
While the share of apartments exceeding 2,000 sq ft remained stable at 1%, registrations for smaller units up to 500 sq ft saw a significant decline, falling from 48% to 38%. Knight Frank India report said this shift indicates a growing preference for more spacious homes in the Mumbai property market.
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Western Suburbs and Central Suburbs account for 88% of the total market share
According to Knight Frank India, Mumbai’s residential market witnessed notable shifts in micro-market preferences. The central suburbs saw the highest increase in market share, rising from 29% in January 2024 to 33% in January 2025, followed by central Mumbai and South Mumbai, improving their shares to 11%.