Mumbai Real Estate: Property Registrations Drop 4% in May 2025, Stamp Duty Collections Rise 3%
Mumbai's real estate market experienced a 4% decline in property registrations in May 2025, with 11,565 properties registered compared to 12,000 in the same period last year. Despite this, stamp duty collections saw a 3% increase.
Real EstateMumbaiProperty RegistrationsStamp DutyResidential PropertyReal EstateJun 01, 2025
However, stamp duty collections increased by 3% in May 2025, totalling ₹1,062 crores, compared to the ₹1,034 crores collected in May 2024. In terms of month-on-month comparison, April 2025 saw 13,080 properties registered, with stamp duty collections amounting to ₹1,115 crore.
Residential property registrations continued to dominate in May 2025, accounting for 80% of all registrations in the Mumbai real estate market, according to Knight Frank India, a real estate consultancy firm.
The dip in May 2025 can be attributed to a slowdown in sales momentum, particularly in the mid-priced segments. According to Knight Frank, properties priced between ₹1 crore and ₹5 crore recorded a slowdown in sales. However, this dip did not impact the revenue collection, owing to higher sales velocity for properties priced above ₹5 crore. On a year-to-date basis, Mumbai recorded a 24% YoY increase in registrations, totalling 64,461 properties, and a 17% rise in revenue, with stamp duty collections exceeding ₹5,696 crore.
According to Knight Frank's analysis, May 2025 saw a clear divergence in buyer activity, with growth concentrated at the higher ends of the price spectrum. 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.
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, Knight Frank India said in its report.
On the other hand, 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, the report said.
According to the report, the western suburb and the central suburb account for 87% of the total market share. The western and central suburbs remained the dominant real estate hubs, accounting for 87% of the total market share. However, South Mumbai witnessed an uptick in the share of property registrations by 1%.
Frequently Asked Questions
What was the percentage change in property registrations in Mumbai in May 2025 compared to the same period last year?
Property registrations in Mumbai fell by 4% in May 2025 compared to the same period last year.
How did stamp duty collections change in May 2025 compared to May 2024?
Stamp duty collections increased by 3% in May 2025 compared to May 2024.
What segment of the market saw the most significant decline in property registrations in May 2025?
Properties priced between ₹1 crore and ₹5 crore saw a slowdown in sales momentum, leading to a decline in registrations.
What was the most preferred size of apartments in Mumbai in May 2025?
Apartments measuring 500–1,000 sq ft were the most preferred, accounting for 44% of all transactions.
Which areas of Mumbai saw the highest share of property registrations in May 2025?
The western and central suburbs accounted for 87% of the total market share in property registrations in May 2025.
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