Mumbai Property Registrations Decline 4% in May 2025, Despite Revenue Growth
In May 2025, Mumbai saw a 4% year-on-year drop in property registrations, totaling 11,565 transactions. However, stamp duty revenue increased by 3%, driven by higher-value transactions.
Mumbai PropertyProperty RegistrationsStamp DutyReal Estate MarketKnight Frank IndiaReal Estate MumbaiJun 02, 2025
This uptick in revenue is attributed to a rise in transactions in the ₹5 crore and above segment. About 80% of all registrations in the month attributed to residential properties.
Shishir Baijal, chairman & managing director of Knight Frank India, said, “In May 2025, Mumbai's residential market saw a 4% YoY decline in property registrations, as properties priced between ₹1–5 crore recorded a slowdown in sales momentum.”
On a year-to-date basis, Mumbai recorded a 24% year-on-year increase in registrations, totaling 64,461 properties, and a 17% rise in revenue, with stamp duty collections exceeding ₹5,696 crore.
Registrations for properties priced above ₹5 crore increased from 5% in May 2024 to 7% in May 2025. In contrast, the mid-priced segments, particularly those between ₹1 crore to ₹5 crore, witnessed a decline in share.
Properties up to 1,000 sq ft continue to lead in registrations. Apartments up to 1,000 sq ft continued to dominate Mumbai’s residential registrations in May 2025, accounting for 83% of all transactions—unchanged from the previous year. Within this category, the 500–1,000 sq ft range remained the most preferred, with a 44% share.
However, larger homes witnessed growing interest: units measuring 1,000–2,000 sq ft saw a marginal increase in share from 13% to 14%, while those over 2,000 sq ft rose from 2% to 3%.
This trend highlights a steady, if gradual, shift in buyer appetite toward more spacious living, even as compact homes continue to lead in overall volumes.
Frequently Asked Questions
What was the percentage decline in property registrations in Mumbai in May 2025?
Property registrations in Mumbai declined by 4% year-on-year in May 2025.
How much revenue did Mumbai generate from property registrations in May 2025?
Mumbai generated ₹1,062 crore in revenue from property registrations in May 2025.
What segment of property registrations saw an increase in May 2025?
The segment of properties priced above ₹5 crore saw an increase in registrations from 5% in May 2024 to 7% in May 2025.
What percentage of registrations were for properties up to 1,000 sq ft in May 2025?
83% of all registrations in May 2025 were for properties up to 1,000 sq ft.
What is the trend in buyer preference for larger homes in Mumbai?
There is a growing interest in larger homes, with units measuring 1,000–2,000 sq ft seeing a marginal increase in share from 13% to 14%, and those over 2,000 sq ft rising from 2% to 3%.
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