While India’s residential property market saw a significant 13% year-on-year decline in sales in  Q4 FY 2026, Mumbai defied the   negative sentiment to end the last quarter of FY 26 with a 14-year record high housing registrations growth in the month of Mar

According to a latest Knight Frank India report, Mumbai city area under BMC jurisdiction, recorded 15516 property registrations in March 2026, marking the highest monthly registration volume for the month of March in the past 14 years, underscoring the continued depth and resilience of the city’s residential market.  On a year-on-year basis, registrations witnessed a marginal growth, matching the elevated levels seen in March 2025. On a sequential basis (as compared to February 2026), activity strengthened notably as the financial year drew to a close. Registrations rose 19% month-on-month (MoM), while stamp duty collections increased by 32% MoM, indicating sustained end-user demand supported by stable macroeconomic conditions, ongoing infrastructure upgrades, and positive buyer sentiment. Residential properties continued to dominate, accounting for nearly 80% of total registrations.

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Mumbai’s residential market has demonstrated a notable growth with March 2026 registrations surpassing last year’s already elevated base to record the strongest March in over a decade. Says Shishir Baijal, International Partner, Chairman & Managing Director, Knight Frank India, “The momentum is particularly evident in the mid-income segment, where aspiring homeowners are actively upgrading to better quality housing within accessible price bands. The steady rise in transaction volumes highlights a structurally healthy market and this demand-led trajectory is expected to continue in the near term, anchored by favourable fundamentals and Mumbai’s enduring appeal as a residential destination.”

 Mumbai records 14-year best property registrations

Source: Maharashtra Govt- Dept. of Registrations and Stamps (IGR); Knight Frank India  

In March 2026, Mumbai recorded over 15,516 property registrations, up from 15,501 in the same month last year. This marks the strongest March on record for registrations signalling sustained market momentum.

 Ticket size category wise transactions

The market witnessed a clear shift toward the mid-segment in March 2026, with the share of properties priced between INR 1–2 crore increasing to 38% from 32% a year earlier. In contrast, the sub-INR 1 crore segment declined from 46% to 39%, indicating a gradual move away from entry-level housing. Higher ticket segments remained largely stable, with the INR 2–5 crore and INR 5 crore+ categories holding steady at 17% and 6%, respectively. This suggests that the expansion in transaction values is being driven by upgradation within the mid-income bracket rather than a broad-based shift toward premium housing.

Apartments up to 1,000 sq ft continued to dominate registrations in March 2026, accounting for 85% of total transactions, underscoring Mumbai’s sustained preference for compact homes. Within this, the 500–1,000 sq ft segment strengthened its lead, increasing its share to 47% from 44% a year earlier, reflecting a preference for more efficient yet liveable configurations. Meanwhile, units below 500 sq ft saw a marginal decline from 40% to 38%, while larger unit categories remained broadly stable. This trend indicates a gradual shift toward slightly larger, more functional homes, as buyers look to balance affordability with improved living standards.

Area wise breakup of apartment sales

Source: Maharashtra Govt- Dept. of Registrations and Stamps (IGR); Knight Frank Resear 

Suburban markets dominated residential realty., continuing to account for the bulk of transactions. The Western Suburbs further strengthened their dominance, with share increasing to 56% from 49% a year earlier, reinforcing their position as Mumbai’s most active housing corridor. In comparison, the Central Suburbs saw a moderation in share to 32% from 35%, though they continue to remain a key contributor to overall volumes. Core city markets, including South Mumbai and Central Mumbai, witnessed a decline in share to 6% each, reflecting relatively higher price points and limited supply. Overall, the distribution highlights a continued preference for well-connected suburban locations, where buyers find a more favourable balance of affordability, accessibility, and product availability.