Mumbai's Property Market Surges Ahead in H1 2025 with ₹6,699 Crore Revenue
Mumbai’s property market has powered ahead, smashing records in the first half of 2025. According to the Maharashtra State Revenue Department, both property registrations and revenue collection in Mumbai hit all-time highs between January and June 2025.
Fresh data from the Inspector General of Registration (IGR) shows Mumbai clocked 75,672 property registrations as of June 30 noon - up 4% from 72,491 in H1 2024. Even more impressive: revenue from these registrations soared to Rs 6,699 crore, a robust 14% jump over last year’s Rs 5,874 crore for the same period. June 2025 recorded registration of 11,521 properties.
Anuj Puri, Chairman – ANAROCK Group, says, “June 2025 saw Mumbai notch up its second-highest property registrations for the month in six years, with 11,211 properties changing hands and revenue collections hitting an impressive INR 1,004 crore. While registrations dipped slightly - about 4% lower than June 2024’s 11,673 deals - this year’s revenue held firm, matching almost last year’s figure. In fact, June 2025’s revenue was just 1% lower than last year, highlighting the market’s resilience despite a marginal drop in transactions. Mumbai’s real estate continues to deliver strong numbers, even as the pace has cooled a bit.”
Even as overall housing sales across MMR - including Mumbai City - remained muted in early 2025, property registrations told a different story. According to ANAROCK Research, MMR saw about 62,890 units sold in the first half of this year as against 84,465 units last year during the same period - a steep 34% drop from the same period last year. Yet, registration numbers stayed robust.
Behind this seeming paradox lies a record-breaking March,” adds Puri. “After the announcement of a 3.9% hike in Maharashtra’s ready reckoner rates for FY26, buyers rushed to register properties, resulting in a whopping 15,501 registrations - the highest March tally in three years. For perspective, only December 2020 (19,581) and March 2021 (17,728) saw higher numbers, both during the COVID-era stamp duty cut. March is always a hot month for registrations, but March 2025 was exceptional, raking in over ₹1,589 crore in revenue from property registrations alone.”
Further analysis of the property registrations data and demand trends from January to June 2025 shows that the average ticket price of homes sold stood at Rs 1.60 Cr - over 3% more than in this period saw in 2024, when it was INR 1.56 Cr. In the corresponding period of 2021, the average ticket price stood way lower at Rs 1.02 Cr and witnessed a 55% jump. In short, 2025 continues to record more sales of high-ticket price homes in comparison to more affordable ones.
Shishir Baijal, Chairman & Managing Director, Knight Frank India, stated, “Mumbai’s residential market continues to reflect steady buyer confidence, as registrations consistently stay above the 11,000-mark year-on-year. What’s particularly encouraging is that this sustained demand has led to the city’s strongest half-yearly performance in over a decade. While we’ve seen some cooling in the mid-price segments, the appetite for larger homes and properties priced above INR 5 crore remains strong, driving healthy revenue collections.”
