Mumbai’s real estate market is scaling new peaks in 2025, with both property registrations and government revenues touching record highs. Data from the Inspector General of Registration (IGR) for January–September 2025 shows a strong year-on-year rise, reaffirming the sector’s resilience and long-term growth momentum.

During the nine-month period, 1,11,388 properties were registered — the highest in seven years. This reflects a 5.5% jump over 2024 (1,05,607 registrations) and an 18.1% surge over 2023 (94,307). The growth is even more striking when compared with pre-pandemic levels: registrations in 2025 are more than double those in 2019 (up 122.6%) and nearly four times the 2020 tally (up 286.6%), when the market was reeling under COVID-19 disruptions.

Recovery and Growth Trajectory:

The data underscores the real estate sector’s remarkable recovery:

· 2019–2020: Registrations and revenues dipped sharply due to the pandemic.

· 2021: Market revival began with 86,072 registrations and revenues exceeding ₹4,252 crore.

· 2022: Revenues crossed the ₹6,600 crore mark, up 55% from 2021, signalling renewed momentum.

· 2023–2025: The market not only stabilized but surged, breaking records in consecutive years.

Revenue Collection Crosses INR 10,000 Crore for the First Time:

Stamp duty and registration fee collections mirrored this surge in registrations. In the first nine months of 2025, revenues touched a record ₹10,094.22 crore, surpassing the previous high of ₹8,876.42 crore in 2024.

This represents a 13.7% increase year-on-year, and a dramatic fivefold rise of 421% compared to 2020 (₹1,937.32 crore) during the pandemic slump.

Anuj Puri, Chairman – ANAROCK Group, said, “This sustained growth is due to a combination of robust housing demand, accelerated infrastructure development, premium project launches, and stable policy frameworks. With 2025 already surpassing the INR10,000 crore milestone in just nine months, the year is firmly on track to become the most successful year ever for property registrations and collections. The sustained performance points toward a structurally stronger real estate market, driven by both end-users and investors, setting the stage for continued expansion in the years ahead.”