Mumbai Property Market Surges: Registrations and Stamp Duty Collections Reach 14-Year High

Mumbai's real estate market has shown remarkable resilience and growth, with 2025 witnessing the highest number of property registrations and stamp duty collections in the last 14 years. According to a report by Knight Frank India, the city recorded 1,50,254 property registrations, generating Rs 13,487 crore in stamp duty revenue. This milestone reflects the robust health of the Mumbai property market, driven by sustained demand and improved affordability.

The momentum continued through December, with 14,447 property registrations contributing Rs 1,263 crore to the state exchequer. Compared to the previous year, this represents a 16 per cent increase in registrations and an 11 per cent rise in stamp duty collections.

On a month-on-month basis, December saw a significant surge in activity, with registrations increasing by 18 per cent and stamp duty revenues climbing by 22 per cent. Residential properties accounted for 80 per cent of the transactions during the month, highlighting sustained demand for homes.

The report also noted a shift towards higher-value properties. In December, homes priced above Rs 5 crore accounted for 7 per cent of registrations, up from 6 per cent a year earlier. The Rs 1-2 crore segment increased to 32 per cent from 30 per cent, indicating a growing interest in mid-range properties.

Smaller units continued to dominate the market, with properties up to 1,000 sq ft representing 82 per cent of registrations. The 500-1,000 sq ft range was the most preferred among buyers, suggesting that affordability and practicality remain key factors in property selection.

Shishir Baijal, Chairman & Managing Director of Knight Frank India, highlighted the market's resilience and depth. “This milestone reflects the resilience and depth of the Mumbai property market, driven by sustained end-user demand and a supportive supply-side ecosystem,” he said. Baijal also noted that rising stamp duty collections indicate higher per-unit transaction values, and affordability has significantly improved. “Mumbai now has an affordability ratio of 47 per cent, a sharp correction from earlier times when EMIs consumed nearly 97 per cent of household income,” he added.

The report concludes that homebuyers in Mumbai are willing and able to invest, provided the price points and product offerings are suitable. This positive trend suggests that the Mumbai property market is on a strong trajectory, with potential for continued growth in the coming years.