Navratri Boosts Mumbai Property Registrations by 20%, Revenue Surges 17% to ₹587 Crore
A recent report by Knight Frank India highlights a significant rebound in Mumbai's real estate activity during Navratri 2025, with a 20% increase in property registrations and a 17% rise in state revenue.
Property RegistrationsNavratriReal EstateGstMumbaiReal EstateOct 03, 2025
The report showed that this led to a 17% increase in state revenue as well, rising 17% year-on-year to ₹587 crore.
“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 ₹587 crore further affirm that buyer sentiment remains firmly positive, establishing a strong foundation for continued momentum in the residential market,” said Shishir Baijal, Chairman & Managing Director, Knight Frank India, in a statement.
The report attributes this increase in revenues to a favourable mix of stable interest rates, improved affordability, and growing demand for premium homes. Additionally, the festive demand was supported by the positive sentiments due to GST rate cuts announced earlier in September.
Daily average registrations rose almost 8% from 578 in Navratri 2024 to 624 this year, while revenue per day increased 5% from ₹56 crore to ₹59 crore.
This led to Mumbai seeing its best September in 10 years, clocking 12,070 registrations, buoyed by the festive calendar aligning almost entirely within the month. The early end of the Shraddh period enabled Navratri-led buyer momentum to kick in sooner, unlike last year, the report added.
The Shraddh period is a 15-day phase considered inauspicious for major purchases among Hindu families and precedes Navratri. This year, it fell between September 7 and 21, 2025.
A large part of the overall growth came from improved activity during traditionally subdued periods. Registrations during the Shraddh phase rose to 3,368 units, while revenue jumped 21% to ₹265 crore.
Frequently Asked Questions
What is the significance of the Shraddh period in the context of property registrations?
The Shraddh period is a 15-day phase considered inauspicious for major purchases among Hindu families. It precedes Navratri and can affect property registration activity. This year, the early end of the Shraddh period allowed Navratri-led buyer momentum to kick in sooner.
How did the GST 2.0 savings festival impact property registrations in Mumbai?
The GST 2.0 savings festival, along with GST rate cuts announced earlier in September, contributed to positive sentiments among homebuyers, leading to a significant increase in property registrations during Navratri 2025.
What is the role of interest rates in the real estate market during Navratri?
Stable interest rates played a crucial role in boosting property registrations. They improved affordability and sustained the confidence of homebuyers, contributing to the strong rebound in real estate activity.
How did the revenue per day change during Navratri 2025 compared to the previous year?
Revenue per day increased by 5% from ₹56 crore to ₹59 crore during Navratri 2025, reflecting a robust growth in the real estate market.
What is the significance of the 17% increase in state revenue?
The 17% increase in state revenue to ₹587 crore is a strong indicator of the positive sentiment and growing demand in the residential market, further affirming the sustained confidence of homebuyers in Mumbai.
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