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Mumbai property registrations dip 4% YoY in May 2025 as ₹1–5 crore segment sees slower sales
Property registrations fell in May 2025 as sales momentum slowed down in the ₹1 crore to ₹5 crore range, according to Knight Frank India
Mumbai's real estate market saw property registrations fall by 4% in May 2025, with 11,565 properties registered compared to 12,000 in the same period last year, according to data from the Maharashtra Inspector General of Registration (IGR).
However, stamp duty collections increased by 3% in May 2025, totalling ₹1,062 crores, compared to the ₹1,034 crores collected in May 2024. In terms of month-on-month comparison, April 2025 saw 13,080 properties registered, with stamp duty collections amounting to ₹1,115 crore.
Residential property registrations continued to dominate in May 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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Dip in registrations of properties valued in the range of ₹1 crore to ₹5 crore
According to Knight Frank, the dip in May 2025 can be attributed to a slowdown in sales momentum.
“In May 2025, Mumbai's residential market saw a 4% YoY decline in property registrations, as properties priced between ₹1 crore and ₹5 crore recorded a slowdown in sales momentum. However, this dip did not impact the revenue collection, owing to higher sales velocity for properties priced above ₹5 crore. On a year-to-date basis, Mumbai recorded a 24% YoY increase in registrations, totalling 64,461 properties, and a 17% rise in revenue, with stamp duty collections exceeding ₹5,696 crore.”
According to Knight Frank's analysis, May 2025 saw a clear divergence in buyer activity, with growth concentrated at the higher ends of the price spectrum. Registrations for properties priced above ₹5 cr increased from 5% in May 2024 to 7% in May 2025. In contrast, the mid-priced segments, particularly those between ₹1 crore to ₹5 crore, witnessed a decline in share.
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Properties up to 1,000 sq ft continue to lead in registrations
Apartments up to 1,000 sq ft continued to dominate Mumbai’s residential registrations in May 2025, accounting for 83% of all transactions, unchanged from the previous year. Within this category, the 500–1,000 sq ft range remained the most preferred, with a 44% share, Knight Frank India said in its report.
On the other hand, larger homes\ witnessed growing interest: units measuring 1,000–2,000 sq ft saw a marginal increase in share from 13% to 14%, while those over 2,000 sq ft rose from 2% to 3%. This trend highlights a steady, if gradual, shift in buyer appetite toward more spacious living, even as compact homes continue to lead in overall volumes, the report said.
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Where are people buying homes?
According to the report, the western suburb and the central suburb account for 87% of the total market share. The western and central suburbs remained the dominant real estate hubs, accounting for 87% of the total market share. However, South Mumbai witnessed an uptick in the share of property registrations by 1%.
