Mumbai recorded 12,219 property registrations in November 2025—a 20% YoY increase—driving stamp duty collections to INR 1,038 crore, up 12% YoY. Residential properties dominated activity, accounting for 80% of registrations, while higher-value homes above INR 5 crore saw rising demand. Suburban markets led, with Western and Central Suburbs capturing 85% of registrations. This surge underscores sustained buyer confidence and a robust, mature residential market.

Mumbai recorded over 135,807 property registrations in the first eleven months of 2025, contributing more than INR 12,224 Crores (Cr) to the state exchequer during this period. Property registrations observed a 5% YoY growth while revenue grew by 11% YoY during the same period. Sustained buyer confidence has fueled consistent sales, driven by city’s property registration growth.

Shishir Baijal, Chairman & Managing Director, Knight Frank India, stated, “Mumbai’s residential market has extended its steady momentum into November, posting a 20% YoY rise in registrations and marking the city’s best November since 2013. Revenue increased 12%, supported by firm demand across segments and a clear shift toward higher-value homes. With registrations crossing 135,000 units in the first eleven months, the market is operating at a structurally higher baseline, and monthly activity has consistently stayed healthy. The stability in both volumes and revenue highlights a mature demand cycle and continued buyer confidence across Mumbai.”

Registration momentum in Mumbai continues to tilt toward the higher price brackets. Homes priced above INR 5 cr accounted for 7% of total registrations in November 2025, up from 5% a year earlier, reflecting demand in the luxury segment. Meanwhile, the less than 1 cr range saw its share decline as affordability challenges weighed on buyer sentiment in this bracket. The 2–5 cr range remained stable, while the share of properties worth INR 1 to 2 cr increased from 31% in 2024 to 33% in 2025.

Properties up to 1,000 sq ft continue to lead in registrations

Units up to 1,000 sq ft contributed 84% of all registrations, in-line to last year. The 500–1,000 sq ft segment was the most preferred, striking a balance between affordability and usable space for end-users. Larger homes retained a niche buyer base, with 1,000–2,000 sq ft units edging up to 13% and apartments above 2,000 sq ft rose to 4%.

Western Suburb and Central Suburb account for 85% of the total market share

The suburban markets continued to anchor activity. Western and Central Suburbs accounted for 85% of the total registrations in November 2025. The Western Suburbs led with 56%, while the Central Suburbs contributed 29%. In contrast, South Mumbai held at 9%, and Central Mumbai slipped to 6%.