Mumbai's Property Market Surges to 14-Year High with Over 150,000 Units Sold in 2025

Mumbai, the financial capital of India, has witnessed a significant surge in property sales, reaching a 14-year high in 2025. According to a Knight Frank report, the city registered 150,254 property units, marking a robust 6% increase from the previous year. This surge has not only bolstered the real estate market but also contributed significantly to government revenues through a 11% rise in stamp duty collections, totaling Rs 13,487 crore, another 14-year high.

The report highlights that the increase in property registrations reflects a strong and sustained demand from end-users, coupled with a supportive supply-side ecosystem. The numbers include both new sales and re-sales across residential and commercial properties, indicating a comprehensive growth in the market.

In December 2025, the trend continued with a notable shift towards higher price brackets. Properties priced above Rs 5 crore accounted for 7% of registrations, up from 6% in 2024. Properties in the Rs 2-5 crore range remained stable at 19%, while those in the Rs 1-2 crore segment increased from 30% to 32%. However, the share of properties priced below Rs 1 crore declined from 44% to 42%, reflecting the growing affordability challenges faced by buyers.

Units up to 1,000 square feet accounted for 82% of registrations, with homes sized between 500 and 1,000 square feet being the most preferred at 46%. Units between 1,000 and 2,000 square feet saw a slight increase to 15%, while apartments above 2,000 square feet held steady at 3%.

The Western and Central suburbs dominated the activity, accounting for 86% of December registrations, up from 84% a year earlier. The Western suburbs led with a 57% share, followed by the Central suburbs at 29%. In contrast, South Mumbai’s share decreased from 8% to 7%.

The market momentum remained strong throughout the year, with December seeing 14,447 units registered, contributing Rs 1,263 crore in stamp duty revenue. Residential properties accounted for 80% of the registrations in the month, translating into a 16% year-on-year rise in registrations and an 11% increase in stamp duty collections.

Sequentially, December registrations grew by 18%, while stamp duty revenue increased by 22%. The month emerged as the second-strongest of the year, following March when registrations crossed 15,000 units.

Shishir Baijal, Chairperson and Managing Director of Knight Frank India, attributed the sustained end-user demand and a more supportive supply-side ecosystem as key drivers. He also noted that the higher stamp duty collections indicate a gradual improvement in per-unit transaction values. Baijal further stated that 2025 marked a steady and mature phase for the city’s housing market, reflecting its resilience and depth.

The strong performance of Mumbai's real estate market in 2025 underscores the city's continued appeal as a leading destination for property investments, despite the high price tags and global economic challenges. The data suggests that the market is well-positioned for further growth in the coming years, driven by ongoing demand and supportive policies.