Mumbai Starts New Year with a Record Realty Run

India’s leading real estate market-Mumbai has entered new year with a bang, recording the highest residential transactions in over a decade.

The property registration data sourced by Knight Frank reveals that Mumbai scripted its best January in 2026 in 14 years, recording 11219 transactions, with stamp duty collections topping INR 1000 crore.

While registrations declined by 8% YoY compared to January 2025, activity still stood as the second-highest January on record over the same period, with stamp duty marking a 2% YoY growth, reflecting a higher share of large-ticket transactions. The sustained momentum highlights continued end-user demand, supported by positive homebuyer sentiment, stable economic conditions, and ongoing infrastructure investments across the city. Residential assets continued to dominate market activity, accounting for nearly 80% of total registrations.

Mumbai property sale registration and government revenue collection

Period	Registration (Units)	YoY	MoM	Revenue (INR cr)	YoY	MoM
Jan -25	12,249	12%	-1%	994	31%	-12%
Feb-25	12,066	0.1%	-1%	935	6%	-6%
Mar-25	15,501	10%	28%	1,589	42%	70%
Apr-25	13,080	12%	-16%	1,115	5%	-30%
May-25	11,565	-4%	-12%	1,062	3%	-5%
Jun-25	11,599	-1%	0%	1,035	2%	-3%
Jul-25	12,579	1.7%	8%	1,123	6%	8%
Aug-25	11,230	-3%	-11%	1,000	-6%	-11%
Sep-25	12,070	32%	7%	1,292	47%	29%
Oct-25	11,649	-10%	-3%	1,040	-14%	-20%
Nov-25	12,219	20%	5%	1,038	12%	0%
Dec-25	14,424	16%	18%	1,245	10%	20%
Jan-26	11,219	-8%	-22%	1,012	2%	-19%

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

Mumbai records 14-year best property sale revenue collection

Month-wise	Registration (Units)	Revenue (INR Cr)
Jan-13	5,599	268
Jan-14	5,497	271
Jan-15	6,214	348
Jan-16	5,163	279
Jan-17	3,619	255
Jan-18	6,270	388
Jan-19	4,605	371
Jan-20	6,150	454
Jan-21	10,412	305
Jan-22	8,155	478
Jan-23	9,001	692
Jan-24	10,967	760
Jan-25	12,249	994
Jan-26	11,219	1,012

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

Sequentially, property registrations declined by 22% in January, and revenue collections dipped by 19%. However, this decline is largely attributed to a seasonal dip typically observed in January. Historically, both property registrations and revenue collections tend to soften in January, reflecting seasonal moderation after the typically strong transaction momentum recorded in December.

Data revealsthat registration momentum in Mumbai continues to tilt towards the higher price backets. Homes priced above INR 5 crore accounted for 7% of total registrations in January 2026, up from 6% a year earlier, reflecting demand in the luxury segment. Meanwhile, the less than INR one crore range saw its share decline as affordability challenges weighed on buyer sentiment in this bracket. The share of properties worth INR 2-5 crore also grew 2% while share of properties worth INR 1-2 crore increased from 30% in January 2025 to 33% in January 2026

Properties up to 1000 sq ft continue to lead in registrations, contributing 83% of all registrations, in-line to last year. The 500-1000 sq ft segment was the most preferred, striking a balance between affordability and usable space for end-users. Larger homes remained a niche buyer base, with 1000-2000 sq ft units witnessed a marginal dip of 1% to 24% and share of apartments above 2000 sq ft remained stable at 3%.

The suburban markets continued to anchor activity. Western and Central suburbs accounted for 87% of the total registrations in January 2025. The western suburbs led with 57% while the central suburbs contributed 30%. In contrast, South Mumbai held at 8% and central Mumbai slipped to 5%.