Mumbai Property Registrations See 14% Drop in October 2025

NEW DELHI: Mumbai city, under the jurisdiction of the BMC, is expected to record around 11,200 property registrations in October 2025, with stamp duty collections reaching ₹1,004 crore. This marks a 14% year-on-year decline in registrations and a 17% drop in revenue collections.

On a month-on-month basis, registrations were down 7%, and stamp duty collections dropped by 22%. Residential deals continued to dominate, accounting for about 80% of total registrations during the month.

Prashant Sharma, president of NAREDCO Maharashtra, commented, 'The temporary dip in registrations this October should be seen as a pause rather than a concern. We believe this is a short-term adjustment, and with supportive government policies and continued developer efforts, momentum will return swiftly in the coming months.'

Mumbai has recorded over 123,141 property registrations till October 2025, contributing more than ₹11,151 crore to the state exchequer during this period. Property registrations observed a 4% year-on-year growth, while revenue grew by 11% year-on-year during the same period.

Shishir Baijal, chairman and managing director of Knight Frank India, noted, 'With more than 123,000 registrations in the first ten months, contributing over ₹11,000 crore in revenue to the state exchequer, Mumbai’s housing market reflects structural strength supported by steady end-user demand.'

Homes priced below ₹1 crore dominated, with their share rising from 45% in October 2024 to 48% this year. The ₹1–2 crore category held firm at 31%, while the ₹2–5 crore segment eased slightly to 16%. Transactions worth over ₹5 crore remained unchanged at 6%.

Units up to 1,000 sq ft made up 85% of total registrations in October 2025, marginally higher than last year’s 82%. Homes sized 1,000–2,000 sq ft accounted for 13% of registrations, while apartments over 2,000 sq ft maintained a niche 3% share.

Shraddha Kedia-Agarwal, director of Transcon Developers, stated, 'The short-term decline in registration numbers should not overshadow the strong underlying demand that Mumbai continues to witness. Buyers are becoming more discerning, which ultimately leads to a more sustainable and quality-driven market.'

Western and central suburbs together accounted for 84% of all registrations in October 2025, slightly lower than 86% last year. South Mumbai’s share rose to 10%, while central Mumbai eased to 6%.

Despite the recent decline, experts remain optimistic about the long-term prospects of Mumbai's property market, attributing the dip to short-term adjustments and the overall robustness of the housing sector.