Mumbai Real Estate Market Crosses 9,200 Property Registrations in 27 days of January 2025

The Mumbai real estate market witnessed robust activity in January 2025, with property registrations crossing the 9,200-mark within the first 27 days of the month, according to data from the Inspector General of Registration and Controller of Stamps of Maharashtra. The total number of registrations is anticipated to surpass the 10,000-mark by January 31, showcasing a strong start to the new year for the sector.

Revenue and Property Trends

As of 10 a.m. on January 27, 2025, the government had earned a revenue of ₹740 crore from 9,212 property registrations through stamp duty and registration fees. This marks a significant contribution to the state exchequer, reinforcing the resilience of Mumbai’s real estate market. For comparison, January 2024 saw 10,967 property registrations, generating ₹760 crore in revenue during the same period.

Property consultants estimate that approximately 80% of total property registrations are residential units, while the remaining transactions are attributed to commercial and retail properties. The sustained demand for residential properties underscores the preference for home ownership among Mumbai’s residents, with a growing inclination toward premium properties.

Year-on-Year Performance

The market has been experiencing consistent growth over recent years. According to Knight Frank India, Mumbai recorded the highest number of property registrations in 13 years during 2024, with 1.41 lakh registrations, surpassing the 1.26 lakh in 2023, 1.22 lakh in 2022, and 1.11 lakh in 2021. Property registrations in 2020 and earlier years historically remained below 1 lakh.

Shifting Buyer Preferences

The December 2024 report provides further insights into buyer behavior. Properties priced at ₹2 crore and above accounted for 23% of registrations in December, up from 18% in December 2023. This increase highlights a growing demand for premium real estate, while registrations for properties valued under ₹50 lakh dropped significantly, reducing their share from 30% to 25%.

Larger apartments have also gained traction, with units measuring 1,000–2,000 sq ft increasing their share from 8% to 12%. Meanwhile, smaller units up to 500 sq ft saw a sharp decline in registrations, falling from 51% to 35%. The data indicates a clear preference among buyers for more spacious and luxurious living spaces, aligning with evolving lifestyle needs.

December 2024 was another strong month for Mumbai’s real estate market, with 12,418 property registrations recorded and revenue of ₹1,134 crore generated for the state. This represents an improvement compared to December 2023, which saw 12,285 registrations and stamp duty collections of ₹933 crore. These numbers reflect sustained demand and an optimistic outlook for the sector. 

Expert Insights

Industry experts attribute the surge in property registrations to factors such as increased disposable income, a shift toward premium properties, and attractive financing options offered by banks and financial institutions. Additionally, the cultural significance of homeownership and Mumbai’s status as a financial hub contribute to consistent demand for real estate.

Knight Frank’s report also highlights the evolving preferences of Mumbai’s homebuyers. The growing share of high-value transactions and larger apartments signals a focus on quality of life and long-term investments. “The data points to a maturing real estate market where buyers are increasingly seeking value over volume,” noted a market analyst.

Outlook for 2025

With a strong start in January, Mumbai’s real estate market is poised for another promising year. The trend of increasing demand for premium and spacious properties is expected to continue, supported by favorable economic conditions and urban development initiatives. Experts believe that the market’s resilience and adaptability will drive sustained growth in the months ahead, solidifying Mumbai’s position as one of India’s most dynamic real estate markets.