by THO
Property registrations in the Mumbai real estate market cross the 9,200-mark in the first 27 days of January 2025, according to the data of the Inspector General of Registration and Controller of Stamps of Maharashtra. The total number of property registrations is expected to cross the 10,000-mark by the last day of the month on January 31.
The government has earned a revenue of ₹740 crore from 9,212 property registrations in the form of stamp duty and registrations fee, as of 10 am on January 27, 2025
According to official data, 10,967 properties were registered in the Mumbai real estate market in January 2024, and revenue was ₹760 crore.
Property consultants say around 80% of the total property registrations are residential units, and the balance is commercial and retail.
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Property registrations of the Mumbai real estate market in 2024
According to Knight Frank India, in 2024, Mumbai had the highest number of property registrations in the last 13 years: over 1.41 lakh, 1.26 lakh in 2023, .122 lakh in 2022, and 1.11 lakh in 2021. Property registrations for 2020 and before that have historically been under 1 lakh.
Further, in December 2024, the city is projected to record 12,418 property registrations and generate revenue of ₹1,134 crore for the state exchequer. Compared to the same period last year, property registrations were 12,285, while stamp duty collections were ₹933 crore.
In December 2024, properties priced at ₹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 ₹50 lakh declined significantly, dropping from 30% to 25% share, indicative of a shift in buyer preferences towards higher-value segments, Knight Frank India said in its report.
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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%. The report added that 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.
