Mumbai Property Registrations See 3% YoY Dip, 11% MoM Decline in August 2025: IGR Data

Mumbai's real estate market experienced a notable decline in property registrations in August 2025, with 11,230 registrations recorded, marking a 3% Year-On-Year (YoY) drop from 11,631 registrations in August 2024. On a month-on-month (MoM) basis, the decline was more pronounced, with a 11% fall compared to 12,579 registrations in July 2025, according to data from the Maharashtra government’s Department of Registrations and Stamps (IGR).

Stamp duty collections from property registrations also saw a decline, standing at ₹1,000 crore in August 2025, a 6% YoY decrease from ₹1,062 crore in August 2024. MoM, both property registrations and stamp duty collections fell 11% from ₹1,123 crore in July 2025.

According to Knight Frank India’s analysis, the market continues to be driven by residential demand, with 80% of all registrations in the month attributed to residential properties. This trend highlights the ongoing preference for homes over commercial properties in Mumbai.

Over 99,869 property registrations were reported in the first eight months of 2025, contributing more than ₹8,854 crores to the state exchequer during this period. The property registrations observed a 3% year-on-year (YoY) growth while revenue grew by 11% YoY during the same period. Sustained buyer confidence has fueled consistent sales, driven by the city's property registration growth.

Shishir Baijal, chairman and Managing Director of Knight Frank India, commented, “Mumbai’s housing market has remained consistent in 2025, with monthly registrations staying above 11,000 and revenue collections crossing ₹1,000 crores. While August saw a modest 3% dip, the city remains firmly on track, inching towards the 100,000 registration milestone for the year. Demand for homes up to 1,000 sq. ft continues to remain resilient, and transactions in the ₹5 crore-plus segment have also held steady. Together, these trends underline the strength of end-user activity and the market’s enduring momentum.”

Momentum in the ₹5 crore and above housing segment has continued, with homes priced above ₹5 crore accounting for 6% of total registrations in August 2025, up from 5% a year earlier, reflecting steady demand. Meanwhile, the ₹1–5 crore mid-market range saw its share decline as affordability challenges weighed on buyer sentiment in this bracket. The ₹2–5 crore range registered a 3% decline, which at this stage looks like a one-off and will have to be watched closely to see if it persists.

Properties up to 1,000 sq ft continue to lead in registrations, with compact apartments remaining the mainstay of demand. Units up to 1,000 sq ft contributed 85% of all registrations, slightly higher than last year. The 500–1,000 sq ft segment was the most preferred, striking a balance between affordability and usable space for end-users. Larger homes retained a niche buyer base, with 1,000–2,000 sq ft units inching up to 13% and apartments above 2,000 sq ft steady at 3%.

The Western and Central suburbs together comprised 86% of registrations in August 2025. The Western Suburbs led with 54%, while the Central Suburbs contributed 32%. In contrast, South Mumbai held at 7%, and Central Mumbai slipped to 7% from 11% in August 2024, the analysis said.