Mumbai Property Market Grows in Volume, Shrinks in Value - April Data Shows

Mumbai, under the governance of the Brihanmumbai Municipal Corporation, registered over 12,142 property transactions in April 2025. According to data released by Knight Frank India, it reflects an increase of 4% year-on-year.  However, the state revenue from these transactions declined by 6% compared to April 2024. The registrations added over Rs. 990 crore to Maharashtra’s revenue. Notably, 80% of the transactions were for residential properties, including both primary sales and resale activity.

The slope in revenue was recognized primarily as a reduction in high-value transactions and an increase in properties falling under lower stamp duty brackets. On a month-on-month (M-o-M) basis, registrations fell by 22%, while revenue saw a steeper 38% decline. 

However, April 2025 still marked the highest number of April transactions in 13 years, highlighting the strength of primary demand.

Chairperson and Managing Director of Knight Frank India, Shishir Baijal, mentioned the rising desire for high-end housing. Properties priced above Rs. 2 crore now make up 25% of all registrations, compared to 22% a year ago. He added that the Reserve Bank of India’s cumulative 50 basis point repo rate cut could further strengthen homebuyer sentiment, provided banks promptly pass on the benefits.

“As infrastructure upgrades reshape Mumbai and aspirations continue to evolve, supportive financial conditions will be key to sustaining market momentum,” Baijal noted.

Amit Jain, Chairperson and Managing Director of Arkade Developers, said the stable rise in transactions, though modest, points to resilient end-user confidence, especially within challenging market conditions, including tightening liquidity, geopolitical uncertainties, and policy shifts.