Mumbai Housing Market Records 11,000+ Property Registrations in October

Mumbai’s housing market has once again proved its staying power. Even as festive momentum shifted to September this year, property registrations in October 2025 held firm above the 11,000 mark, underscoring the city’s deep, resilient housing demand.

According to data from Knight Frank India, Mumbai city, covering the area under the Brihanmumbai Municipal Corporation (BMC) is expected to record around 11,200 property registrations this month, with stamp duty collections crossing Rs. 1,004 crore. Though registrations dipped 14% year-on-year (YoY) and revenue collections fell 17%, analysts say this moderation is more about timing than sentiment.

Last year, both Navratri (3–11 October) and Diwali (1 November 2024) fuelled an extended festive buying window, lifting property registrations to record highs. This year, however, the festive calendar shifted earlier, with Navratri (22 September–1 October) pulling much of the celebratory momentum into September. Even so, October’s performance—backed by Diwali activity—remained healthy and above the 11,000 mark, a sign of enduring demand despite the calendar shift.

Month-on-month, registrations were down 7% while stamp duty collections fell 22%, reflecting a natural cooling after a strong September. Yet, residential deals continued to dominate, accounting for nearly 80% of total registrations.

Steady Momentum Through 2025

Cumulatively, Mumbai has clocked more than 1.23 lakh property registrations till October this year, contributing over Rs. 11,151 crore in revenue to the state exchequer. This marks a 4% rise in registrations and an 11% growth in revenue year-on-year, clear evidence that buyer sentiment remains intact through economic fluctuations and shifting festive seasons.

“Despite the base effect, Mumbai’s housing market continues to display depth and stability,” said Shishir Baijal, Chairman and Managing Director, Knight Frank India. “The moderation in October is largely due to the festive calendar, not a market correction. Over 11,000 registrations in a single month show that demand remains consistent and broad-based.”

Baijal added that steady end-user participation, supported by improved affordability and infrastructure upgrades, continues to sustain Mumbai’s housing cycle. “The city’s housing market reflects structural strength. With more than 123,000 registrations and Rs. 11,000 crore in state revenue this year, demand remains mature across segments.”

Homes Below Rs. 1 Crore Dominate

Mumbai’s property market remains largely driven by the affordable and mid-income segments. Homes priced below Rs. 1 crore accounted for nearly half (48%) of all registrations in October, up from 45% last year. This steady growth points to continued interest from first-time homebuyers and salaried professionals seeking smaller, more affordable apartments.

The Rs. 1–2 crore category remained stable at 31%, reflecting a consistent demand base among mid-income buyers. In contrast, the Rs. 2–5 crore segment eased slightly to 16%, suggesting some recalibration in upper mid-range purchases. Deals worth above Rs. 5 crore, typically representing the luxury segment, held steady at 6%, showing that high-end demand, while limited in volume, remains steady.

Compact Homes Lead Buyer Preference

Mumbai’s compact apartment culture continues to define its housing market. Units measuring up to 1,000 sq. ft made up 85% of total registrations in October, a marginal rise from 82% a year earlier. Within this category, homes between 500–1,000 sq. ft remain the clear preference for most buyers—large enough for comfort, yet affordable within city limits.

Apartments between 1,000–2,000 sq. ft accounted for 13% of sales, while larger homes above 2,000 sq. ft maintained a niche share of 3%. Analysts point out that these trends mirror Mumbai’s urban density and affordability dynamics, where compact, well-located homes continue to drive the bulk of transactions.

Suburbs Anchor the Market

As always, Mumbai’s suburban belt continues to power the city’s real estate engine. The Western and Central Suburbs together accounted for 84% of all registrations in October 2025, slightly lower than last year’s 86%, but still overwhelmingly dominant.

The Western Suburbs led the tally with a 55% share, buoyed by strong traction in mid-range and compact housing segments across micro-markets such as Andheri, Borivali, and Malad. The Central Suburbs, including areas like Mulund and Ghatkopar, followed with a 29% share, reflecting steady buyer activity in emerging residential pockets with improving infrastructure.

Interestingly, South Mumbai saw a modest uptick in share, rising to 10% from 8% last year. This rise is attributed to renewed interest in premium and luxury launches, supported by enhanced connectivity projects such as the coastal road and metro network. Improved access has begun to redraw Mumbai’s real estate map, bringing the city’s southern and central corridors back into sharper focus for buyers and investors alike.

Central Mumbai, in contrast, eased to 6%, reflecting fewer new launches and relatively higher prices in certain pockets.

Buyer Confidence Intact

Industry experts believe the October data signals a market that’s resilient rather than cooling. Over the last two years, despite interest rate fluctuations and policy shifts, Mumbai’s residential segment has shown a rare consistency, driven by genuine end-user demand rather than speculative activity.

“The current numbers suggest structural maturity,” said Baijal. “Buyers are purchasing for use, not for a quick gain. This makes the market less volatile and more dependable for developers and policymakers alike.”

Developers echo the sentiment. With housing loan rates stable and new infrastructure projects enhancing liveability across the metropolitan region, Mumbai continues to attract steady homebuyer interest. The city’s diverse mix of affordable, mid-segment, and luxury housing ensures that every pocket (from Kandivali to Worli) finds its demand base.

The Road Ahead

As the festive season continues into November with Diwali-led activity, Mumbai’s property market is expected to sustain momentum into the last quarter of 2025. Developers are likely to roll out festive offers, flexible payment plans, and new project launches to capture residual demand.

More broadly, the city’s housing resilience reflects deeper confidence in India’s urban economy. Even amid shifting festive cycles and a high comparative base, Mumbai continues to demonstrate that its housing appetite isn’t seasonal, it’s structural.

In a city where every square foot tells a story, Mumbai’s 11,000-plus October registrations are more than just numbers. They represent enduring aspiration, adaptability, and the quiet strength of a market that continues to build, evolve, and thrive.