Mumbai's Property Market Registers Rs 1,062 Crore Revenue from 11,565 Sales in May 2025
Mumbai city, under the BMC jurisdiction, saw the sale of 11,565 properties in May 2025, contributing Rs 1,062 crore to the state's revenue. Despite a 4% year-on-year decline in property registrations, the stamp duty collection increased by 3%.
Mumbai Property MarketReal EstateStamp DutyProperty SalesResidential PropertiesReal Estate MumbaiJun 02, 2025
The market continues to be driven by residential demand, with 80% of all registrations attributed to residential properties. This trend underscores the resilience of the residential property segment in Mumbai, even in the face of varying economic conditions.
The property market in Mumbai has experienced fluctuating trends over the past year. For instance, in April 2024, registrations stood at 11,648 units, showing an 11% YoY growth, although revenue collections dropped 6% month-on-month (MoM) to Rs 1,058 crore. In September 2024, registrations fell sharply by 15% YoY to 9,111 units, with revenue collection also declining by 22% YoY to Rs 877 crore. However, October 2024 marked a significant recovery with 12,960 registrations (up 22% YoY) and a 44% YoY revenue surge to Rs 1,205 crore.
May 2025, however, saw a dip with registrations at 11,565 units (down 4% YoY) and revenue at Rs 1,062 crore (up 3% YoY), indicating a mixed performance. Despite the decline in registrations, the revenue collection remained robust, primarily due to higher sales in the Rs 5 crore and above segment.
Shishir Baijal, Chairman and Managing Director of Knight Frank India, commented, “In May 2025, Mumbai's residential market saw a 4% YoY decline in property registrations, as properties priced between Rs 1–5 crore recorded a slowdown in sales momentum. However, this dip did not impact the revenue collection, owing to higher sales velocity for properties priced above Rs 5 crore. On a year-to-date basis, Mumbai recorded a 24% YoY increase in registrations, totaling 64,461 properties, and a 17% rise in revenue, with stamp duty collections exceeding Rs 5,696 crore.”
These figures highlight the dynamic nature of Mumbai’s property market, which is influenced by various economic conditions and buyer sentiments. The robust performance of the higher-end segment suggests that high-net-worth individuals and investors continue to find value in premium properties, driving the overall market forward.
Overall, the real estate market in Mumbai remains a critical component of the city’s economy, contributing significantly to state revenues and reflecting the city’s economic resilience and growth potential.
Frequently Asked Questions
What was the total revenue generated from property sales in Mumbai in May 2025?
The total revenue generated from property sales in Mumbai in May 2025 was Rs 1,062 crore.
How many properties were sold in Mumbai in May 2025?
In May 2025, 11,565 properties were sold in Mumbai.
What was the year-on-year change in property registrations in May 2025?
Property registrations in May 2025 declined by 4% year-on-year (YoY).
Which segment of the property market saw an increase in sales in May 2025?
The segment priced above Rs 5 crore saw an increase in sales in May 2025.
How much did the stamp duty collection increase in May 2025 compared to the previous year?
The stamp duty collection increased by 3% year-on-year (YoY) in May 2025.
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