Mumbai City recorded 11,541 property sale registrations in February 2025, contributing Rs 896 crore in stamp duty revenue to the state exchequer. February being a shorter month of only 28 days, a closer look at the daily rate of registration and stamp duty revenue, Mumbai recorded an average of 412 daily property registrations, reflecting a sequential improvement of 4 per cent over January 2025 (395 units) while daily stamp duty collections during this period remained stable at Rs 32 crore, similar to the previous month.
Daily property registrations remained largely stable on a year-on-year (YoY) assessment, indicating steady demand. While stamp duty collections increased from Rs 31 crore in February 2024 to Rs 32 crore in February 2025, mainly driven by a higher share of high-ticket-size transactions, contributing to more significant revenue generation despite similar registration volumes. Residential property registrations continued to dominate in February 2025, accounting for 80 per cent of all registrations in December.
In February 2025, Mumbai recorded over 11,541 property registrations, compared to 12,056 properties registered in February 2024. Despite the moderation, the city recorded its second-best performance for February regarding property registration, indicating a stabilisation phase. Notably, registrations have consistently remained above 10,000, significantly higher than pre-pandemic levels. This sustained activity reflects a healthy market driven by positive homebuyer sentiment, steady economic conditions, and ongoing large-scale infrastructure development.
Shishir Baijal, Chairman & Managing Director of Knight Frank India, said, "The Mumbai property market has consistently recorded over 11,000 properties per month; however, the growth rate has moderated. In February 2025, the city continued to record sequential growth in per-day registrations of 4 per cent sequentially, which was largely supported by the premium segment. The high–end segment, particularly Rs 5+ Cr, recorded an annual growth of 15 per cent YoY. Contrary to this, the lower ticket size segment of Rs 50 Lakhs and below saw a notable reduction in demand of 19 per cent YoY. As Mumbai's economy expands and infrastructure developments progress, the city's property market can continue to benefit from this strong growth potential".
Registrations for properties priced at Rs 5 crore and above saw a 15 per cent year-on-year (YoY) increase in February 2025, while the mid-range segments (Rs 50 lakh to Rs 2 crore) remained stable, collectively contributing 56 per cent of total registrations. In contrast, properties priced below Rs 50 lakh recorded a 19 per cent YoY decline, dropping their share from 29 per cent to 26 per cent. This shift highlights a growing preference for premium properties and sustained demand in higher-value segments.
Apartments measuring between 1,000 and 2,000 square feet gained popularity in February 2025, with their share of registrations increasing from 8 per cent to 13 per cent. While the share of apartments exceeding 2,000 square feet remained stable at 1 per cent. Smaller units up to 500 square feet saw a significant decline in registrations, falling from 48 per cent to 38 per cent. This shift indicates a growing preference for more spacious homes in Mumbai.
Mumbai's residential market witnessed notable shifts in micro-market preferences in January 2025. The Central Suburbs saw the highest increase in market share, rising from 29 per cent in January 2024 to 33 per cent in January 2025, followed by Central Mumbai and South Mumbai, improving their shares to 11 per cent.
Meanwhile, the Western Suburbs, though continuing to hold the largest share of transactions, saw a decline from 55 per cent to 45 per cent, indicating a relative redistribution of demand across other micro-markets. This shift suggests growing interest in areas benefiting from infrastructure upgrades and improved connectivity.
