Mumbai Sees 14-Year High in Property Registrations in March
Property registrations in Mumbai recorded a 3% annual increase in March, reaching 15,983 units, according to data released by Knight Frank. This is the highest number of registrations recorded for the month in the past 14 years.
In comparison, the city had recorded 15,510 property registrations during the same period last year. The data covers transactions across both primary and secondary markets within areas governed by the Brihanmumbai Municipal Corporation.
The consultant stated that this performance has surpassed the previous peak seen in March last year, indicating strong underlying demand in the residential market. It highlighted that the consistent rise in registrations reflects the depth and resilience of housing demand in the city.
On a month-on-month basis, registrations also increased from 13,029 units recorded in February, showing improved momentum in buyer activity. Residential properties continued to account for nearly 80% of the total registrations, indicating that end-users remain the primary drivers of the market.
Shishir Baijal, Chairman and Managing Director at Knight Frank India, stated that Mumbai's residential market has shown notable growth, with registrations exceeding last year's already high base to record the strongest March performance in over a decade. He added that the trend reflects strong end-user demand supported by stable economic conditions and sustained buyer confidence.
Akhil Saraf, Founder and CEO of Reloy, indicated that real estate continues to be one of the most trusted investment options. He noted that the rise in registrations to a 14-year high reinforces the sector's reliability, especially at a time when other investment avenues are witnessing volatility or weaker returns.
Historically, Mumbai's property market has shown resilience even during periods of economic uncertainty. Over the past few years, factors such as low interest rates, improved affordability, and a shift towards home ownership post-pandemic have supported steady demand. The continued dominance of residential transactions suggests that genuine homebuyers, rather than investors alone, are driving current activity levels.
