Mumbai's Property Boom: Navratri Registrations Surge 20%, Revenue Hits Record High
Mumbai's housing market witnessed a significant surge in property registrations during Navratri, with a 20% increase to 6,238 registrations and revenue collections reaching a record Rs 587 crore. Discover the key drivers behind this impressive growth.
MumbaiProperty MarketNavratriReal EstateRevenueReal Estate MumbaiOct 03, 2025
Revenue from registrations during Navratri rose to Rs 587 crore, compared to Rs 502 crore last year, a 17% increase. Daily revenue collections averaged Rs 59 crore, up from Rs 56 crore in 2024. Shishir Baijal, Chairman & Managing Director, Knight Frank India, said: “Mumbai’s housing market has once again proven its strength, with 6,238 properties registered during Navratri 2025, a 20% year-on-year growth and the highest festive performance in recent years. This surge, supported by stable interest rates, improving affordability, and the recent GST simplifications, reflects the sustained confidence of homebuyers. The robust revenue collections of Rs 587 crore further affirm that buyer sentiment remains firmly positive, establishing a strong foundation for continued momentum in the residential market.”
September 2025 overall saw 12,070 registrations, making it the best September in a decade. The report noted that the early end of the Shraddh period (September 7–21) and the timing of Navratri (September 22–October 1) concentrated buyer activity within the month. Even during Shraddh, usually considered a quieter period, registrations rose to 3,368 from 3,216 last year. Revenue for the same period went up to Rs 265 crore, compared to Rs 219 crore in 2024, a 21% increase.
The report identified three principal drivers behind the momentum. First, stable interest rates prevented immediate mortgage shock and kept monthly EMIs manageable. Second, improving affordability nudged more buyers toward purchase decisions; the report links this to wage and income trends that are keeping debt servicing in check for many segments. Third, rising appetite for premium properties has shifted the mix upward, increasing average ticket sizes and lifting revenue even when unit growth is moderate. The report also cites recent GST simplifications as a facilitating policy change that eased transactional frictions for buyers and developers.
Frequently Asked Questions
What is the percentage increase in property registrations during Navratri 2025 compared to 2024?
Property registrations during Navratri 2025 increased by 20% compared to 2024.
How much revenue did the Maharashtra government collect from property registrations during Navratri 2025?
The Maharashtra government collected Rs 587 crore in revenue from property registrations during Navratri 2025.
What factors are driving the surge in property registrations in Mumbai?
The key drivers include stable interest rates, improving affordability, and the rising appetite for premium properties, along with recent GST simplifications.
How many property registrations were recorded in September 2025?
September 2025 saw a total of 12,070 property registrations, making it the best September in a decade.
What role did the Shraddh period play in the property market during September 2025?
Despite the Shraddh period being a traditionally quieter time, registrations still increased to 3,368 from 3,216 last year, with revenue rising to Rs 265 crore from Rs 219 crore, a 21% increase.
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