Property registrations in Mumbai surpassed the 11,700 mark, according to data from the Inspector General of Registration and Controller of Stamps of Maharashtra. This reflects a year-on-year (YoY) increase of over 7% from 10,967 registrations recorded in January 2023.
The Maharashtra government has earned around ₹946 crore in revenue from around 11,700 property registrations in the form of stamp duty and registration fees. This is over a 25% increase compared to ₹760 crore collected during the same period in January 2023.
This data is as of 1:30 PM on January 31, 2025.
In December 2024, over 12,418 property registrations were reported, generating over ₹1,134 crore revenue for the state exchequer. Compared to the same period in 2023, property registrations were 12,285, while stamp duty collections were ₹933 crore.
According to Knight Frank India, a real estate consultancy firm that collated the data, the number of properties registered in January 2025 was the highest in the last 13 years.
This surge in activity indicates a strong demand for property in the city, driven by factors such as positive homebuyer sentiment, steady economic conditions, and large-scale infrastructure development, Knight Frank India said in the report.
According to the report, residential properties dominated, comprising 80% of all registrations.
Why did property registrations dip in January 2025 compared to December 2024?
According to Knight Frank India report, property registrations decreased by 5% in January, and revenue collections dipped by 16%. However, this decline is largely attributed to a seasonal dip typically observed in January.
The report stated that property registrations and revenue collections have historically dropped in January compared to the preceding December.
“Mumbai’s residential market entered 2025 with strong momentum, with January 2025 witnessing a year-on-year rise in registrations. While the month’s registration volumes were the highest for any January on record, a sequential decline in registrations and revenue collection was observed. This may not be considered alarming as historically January has seen a month-on-month decline over the previous month, however, one should watch the space keenly. Notably, data indicates sustained strength in the premium segment,” said Shishir Baijal, Chairman & Managing Director, Knight Frank India.
Baijal added, “Steady economic activity and potential interest rate adjustments are expected to further support the market throughout 2025, creating a favourable environment for homebuyers. Continued government support will be critical in sustaining this positive trajectory, particularly in infrastructure development. Stakeholders also keenly anticipate the upcoming budget, hoping for policy measures to further strengthen the real estate sector.”
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Share of properties priced above ₹2 crore increases
According to the Knight Frank India report, the share of registrations for properties priced at ₹2 crore and above increased from 16% in January 2024 to 19% in January 2025, indicating a growing demand for premium real estate.
This segment saw a total of 2,298 transactions in January 2025. Conversely, registrations for properties valued under INR 50 lakh declined from 31% to 28% during the same period, suggesting a clear shift in buyer preferences towards higher-value segments, the report added.
Also Read: Why are up to ₹2 crore properties the most preferred in the Mumbai real estate market?
Where are properties being registered in the Mumbai real estate market?
The western and central suburbs dominated, accounting for 86% of the market share. However, the central Suburbs experienced the most significant growth, increasing their share from 29% to 33%, while the western suburbs saw a slight decline from 57% to 53%. The report said this growth reflects a surge in supply and heightened end-user interest in these locations.