Mumbai Real Estate Market Sees 6% Rise in Property Registrations in 2025

Mumbai’s real estate market experienced a notable surge in 2025, with 150,254 property registrations, marking a 6% increase from the 141,202 registrations in 2024, according to data from the Inspector General of Registration and Controller of Stamps, Maharashtra. This growth reflects a steady and mature phase for the housing market, driven by sustained end-user demand and a supportive supply-side ecosystem.

Stamp duty revenue from these registrations rose to ₹13,487 crore, reflecting an 11% increase compared to ₹12,141 crore in 2024. On a month-on-month (MoM) basis, December 2025 reported 14,447 property registrations, an 18% increase from 12,219 in November 2025. The revenue from registrations also increased to ₹1,264 crore in December 2025, up from ₹1,038 crore in November 2025. In December 2024, 12,418 properties were registered, and a revenue of ₹1,134 crore was reported.

According to Knight Frank India, a real estate consultancy firm, residential units constitute 80% of the overall registered properties in the Mumbai real estate market, while non-residential assets comprise the remaining 20%. The market delivered its strongest housing market performance in 14 years in 2025, underscoring both volume-led strength and improving transaction values.

“2025 marked a steady and mature phase for Mumbai’s housing market, with property registrations crossing 1.50 lakh, the highest level seen in the last 14 years. This milestone is a strong indicator of the underlying resilience and depth of the market, driven by sustained end-user demand and a far more supportive supply-side ecosystem. Rising stamp duty collections reflect a gradual improvement in per unit transaction values,” said Shishir Baijal, International Partner, Chairman and Managing Director, Knight Frank India.

This strength is reinforced by a significant improvement in affordability, with Mumbai now at 47%, a sharp correction from levels where EMIs once consumed as much as 97% of household income. This shift clearly demonstrates that, at the right price points and with the right product offerings, homebuyers in Mumbai are both willing and able to commit capital, Baijal added.

The registration momentum in Mumbai continues to tilt toward the higher price brackets. Homes priced above ₹5 crore accounted for 7% of total registrations in December 2025, up from 6% the previous year, reflecting demand in the luxury segment. Meanwhile, the less than ₹1 crore range saw its share decline due to affordability challenges. The ₹2 to ₹5 crore range remained stable, while the share of properties worth ₹1 to ₹2 crore increased from 30% in 2024 to 32% in 2025.

Units up to 1,000 sq ft accounted for 82% of all registrations, in line with last year's figures. 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 units of 1,000–2,000 sq ft edging up to 15%, and the share of apartments above 2,000 sq ft stood at 3%.

The suburban markets continued to anchor activity. Western and Central Suburbs accounted for 86% of the total registrations in December 2025. The Western Suburbs led with 57%, while the Central Suburbs contributed 29%. In contrast, South Mumbai held at 7%, and Central Mumbai slipped to 7%.

This data highlights the resilience and growing confidence in Mumbai’s real estate market, driven by a combination of improved affordability, sustained demand, and a supportive regulatory environment.