Mumbai Property Sales Decline by 11.33% in August
Registration data from Maharashtra’s Inspector General of Registration and Controller of Stamps (IGRCS) reveals a significant dip in property sales in Mumbai, down 11.33% month-on-month and 3.51% year-on-year.
Mumbai PropertyReal Estate MarketProperty SalesUs TariffsAffordable HousingReal Estate NewsSep 02, 2025
Real estate experts warn that the situation could worsen if India fails to negotiate the rollback of US tariffs. Donald Trump has imposed a 50% tariff and a 1% penalty on various Indian goods and services, effective from August 27. This move is expected to have a negative impact on the Indian economy, potentially leading to higher unemployment levels.
The IGRCS statistics reveal that in August 2025, 11,230 property sale documents were registered, down from 12,579 in July. This represents an 11.33% month-on-month decline. In terms of revenue, the figures stand at ₹1,000.46 crore in August, compared to ₹1,123.03 crore in July.
Year-on-year comparisons show that in August 2024, 11,632 sale agreements were registered, generating ₹1,061.65 crore in revenue. Despite the Maharashtra government increasing ready reckoner rates across the state from April 1, 2025, this year’s revenue is 5.76% lower.
The detailed breakdown of the registrations indicates that 80% of all registrations in August 2025 were for residential properties. The suburban markets continue to drive the sales momentum, with the western and central suburbs accounting for 86% of the August registrations. The western suburbs led with 54%, while the central suburbs contributed 32%. South Mumbai saw a slight increase from 6% last August to 7% this year, while Central Mumbai saw a decline from 11% to 7%.
The escalating trade tensions between India and the United States, following the imposition of the 50% tariff, could severely impact the affordable housing segment. “Homes priced at ₹45 lakh or less have already been heavily affected by the COVID-19 pandemic and are still struggling to recover. The new tariffs will further exacerbate the situation,” said Dr. Prashant Thakur, Executive Director of Research & Advisory at ANAROCK Group.
A local builder expressed concerns about potential defaults and cancellations if unemployment levels rise. “We are exploring innovative marketing strategies and considering flexible payment plans to address these challenges,” he said.
Shishir Baijal, Chairman & MD of Knight Frank India, maintains a more optimistic view. “Mumbai’s housing market has remained consistent in 2025, with monthly registrations exceeding 11,000 and revenue collections surpassing ₹1,000 crore,” he stated. “Despite a modest 3% dip in August, the city is on track to reach the 1,00,000 registration milestone for the year. The demand for homes up to 1,000 sq ft remains strong, and transactions in the ₹5 crore-plus segment have also held steady, indicating robust end-user activity and market momentum.”
Frequently Asked Questions
What is the percentage decline in property sales in Mumbai from July to August 2025?
Property sales in Mumbai declined by 11.33% from July to August 2025.
How have trade tensions between India and the US affected the real estate market in Mumbai?
The 50% tariff imposed by the US on Indian goods and services could potentially lead to increased unemployment, which may result in further declines in property sales.
What percentage of property registrations in August 2025 were for residential properties?
80% of property registrations in August 2025 were for residential properties.
Which areas of Mumbai saw the most property registrations in August 2025?
The western and central suburbs accounted for 86% of the property registrations in August 2025, with the western suburbs leading at 54% and the central suburbs contributing 32%.
What is the outlook for Mumbai's housing market despite the recent decline in property sales?
Despite a modest 3% dip in August, experts believe Mumbai's housing market remains strong, with consistent monthly registrations and robust demand for homes up to 1,000 sq ft and in the ₹5 crore-plus segment.
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