Mumbai Property Registrations and Stamp Duty Collections Reach 14-Year High in 2025

Mumbai recorded 1,50,254 property registrations in 2025, marking the highest number in 14 years, according to a report by Knight Frank India. The real estate market showed robust activity, with stamp duty collections reaching a peak of Rs 13,487 crore, the highest in the same period.

The momentum continued through December, with 14,447 registrations generating Rs 1,263 crore for the state exchequer. This represented a 16 per cent year-on-year rise in registrations and an 11 per cent increase in stamp duty collections.

On a month-on-month basis, December registrations surged 18 per cent, while stamp duty revenues climbed 22 per cent. Residential properties accounted for 80 per cent of the transactions during the month, indicating sustained demand for homes, according to the IANS.

The report noted that the rise in both registrations and stamp duty collections reflected not only high transaction volumes but also improving property values.

The trend shows a shift towards higher-value properties. According to the report, homes priced above Rs 5 crore accounted for 7 per cent of December registrations, up from 6 per cent a year earlier, while the Rs 1-2 crore segment rose to 32 per cent from 30 per cent.

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, the report suggested.

Shishir Baijal, Chairman & Managing Director of Knight Frank India, said, “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 added 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,” Baijal noted, the news agency reported.

The report concludes that homebuyers in Mumbai are willing and able to invest, provided the price points and product offerings are suitable.