Mumbai ushered into 2025  clocking a decade high demand in residential real estate, registering robust growth in property registrations and revenue .

According to a Knight Frank India report. residential property registrations in 2024 grew by 11% YoY , driving the fastest revenue growth in a decade at 12%. This trend reflects evolved homebuyer preferences for quality and value and a  growing market for premium and spacious homes with long-term investment potential.

Price category wise transactions

There is a steady rise in registration in higher value properties in the city. In December 2024, properties priced at INR 2 crore and above accounted for 23% of registrations, up from 18% in December 2023. Transactions in this segment totalled 2,879 properties, showcasing a growing inclination toward premium real estate. Conversely, registrations for properties valued under INR 50 lakh declined significantly, dropping from 30% to 25% share, indicative of a shift in buyer preferences towards higher-value segments. 

Apartments measuring 1,000–2,000 sq ft grew in popularity, with their share rising from 8% to 12%, while the share of those over 2,000 sq ft remained stable at 2%. Smaller units up to 500 sq ft saw a sharp decline in registrations, falling from 51% to 35%, signalling a growing preference for spacious homes.

Area wise breakup of apartment sales

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

 Micro-Market wise breakup of apartment sales

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

The western suburbs and central suburbs continued to dominate accounting for 86% of total market share. However the central suburbs experienced the most significant growth, increasing their share from 29% to 33%while western suburbs saw a slight decline from 57% to 53%. This growth reflects surge in supply and heightened end-user interest in these locations.