Mumbai's Real Estate Market records 4% YoY Dip in Property Registrations

According to data from the Maharashtra Inspector General of Registration (IGR), the number of properties registered in Mumbai's real estate market decreased by 4% year over year (YoY) in February 2025, from 12,056 in the same time the previous year to 11,541 in February 2025.

Nonetheless, stamp duty receipts in February 2025 stayed consistent at Rs. 896 crore, which is about the same as the Rs. 885 crore received in February 2024. Comparing January 2025 to previous months, 12,2249 properties were registered, and ₹994 crore in stamp duty was collected.

According to real estate consulting firm Knight Frank India, residential property registrations accounted for 80% of all registrations in the Mumbai real estate market in February 2025, continuing their dominance.

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.

"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," stated Shishir Baijal, Chairman & Managing Director, Knight Frank India.