Mumbai’s real estate market recorded 150,254 property registrations in 2025, a 6% increase from 141,202 registrations in 2024. Stamp duty revenue rose to ₹13,487 crore, an 11% increase over 2024. Residential units constitute 80% of registered properties, while non-residential assets make up 20%. The market delivered its strongest housing performance in 14 years, driven by sustained end-user demand and a supportive supply-side ecosystem.
Shishir Baijal, International Partner, Chairman and Managing Director, Knight Frank India, said, “2025 marked a steady and mature phase for Mumbai’s housing market, with property registrations crossing 1.50 lakh, the highest level seen in the last 14 years. This milestone is a strong indicator of the underlying resilience and depth of the market, driven by sustained end-user demand and a far more supportive supply-side ecosystem. Rising stamp duty collections reflect a gradual improvement in per unit transaction values.”
Baijal added, “This strength is reinforced by a significant improvement in affordability, with Mumbai now at 47%, a sharp correction from levels where EMIs once consumed as much as 97% of household income. This shift clearly demonstrates that, at the right price points and with the right product offerings, homebuyers in Mumbai are both willing and able to commit capital.”
The luxury segment saw increased demand, with homes priced above ₹5 crore accounting for 7% of total registrations in December 2025. Units up to 1,000 sq ft accounted for 82% of registrations, with the 500-1,000 sq ft segment being the most preferred. Western and Central Suburbs accounted for 86% of total registrations in December 2025.
