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Mumbai's real estate market recorded 11,541 property registrations in February 2025 that yielded INR 896 crore in stamp duty revenue. The monthly registrations indicated a 4% increase from January, despite a slight decline compared to the previous year. Residential transactions, particularly in the premium segment, accounted for 80% of the transactions. The demand for properties below INR 50 lakh fell by 19%. Market preferences shifted towards larger apartments. Central Suburbs saw the largest growth in market share from 29% to 33%. Industry leaders expressed confidence in sustained growth driven by government initiatives and market stability.
Mumbai's real estate market remained strong in February 2025, recording 11,541 property registrations and contributing INR 896 crore in stamp duty revenue to the state exchequer. Despite February's shorter duration, the city saw an average of 412 daily registrations, a 4% increase from January's 395 units. Daily stamp duty collections remained stable at INR 32 crore, slightly up from INR 31 crore in February 2024. Advertisement
While property registrations declined from 12,056 in February 2024, this year's numbers marked the second-best February performance on record. Shishir Baijal, Chairman & MD of Knight Frank India, noted that Mumbai's property market remains resilient, with consistent monthly registrations exceeding 11,000. He attributed the premium segment's growth to economic expansion and ongoing infrastructure projects.
Residential properties dominated, accounting for 80% of all transactions. Notably, high-value property sales surged, with registrations of homes priced above INR 5 crore rising by 15% year-on-year. Meanwhile, the demand for properties below INR 50 lakh fell by 19%, reflecting a growing preference for premium homes.
Market trends also showed a shift toward larger apartments, with registrations for 1,000-2,000 sq. ft. units increasing from 8% to 13%, while smaller units under 500 sq. ft. saw a drop from 48% to 38%. NAREDCO President, Mr. Prashant Sharma, says that the Mumbai real estate market is entering a phase of stability, which is a positive sign for long-term growth. The consistency gives developers confidence in the continued potential of Mumbai's real estate sector, especially with the rising demand for high-end residential properties and a clear shift toward more spacious homes.
Micro-market preferences evolved as well, with the Central Suburbs increasing their market share from 29% to 33%, indicating growing demand in areas benefiting from infrastructure upgrades. Central Mumbai and South Mumbai, both improved their shares to 11%. Meanwhile, the Western Suburbs, though continuing to hold the largest share of transactions, saw a decline from 55% to 45%.
Dhaval Ajmera, Director at Ajmera Realty, highlighted Mumbai's redevelopment boom and anticipated that RBI's rate cuts and budget measures would further support market stability.
Overall, emerging trends highlight a significant transformation in buyer preferences, underlining the market's potential for sustained long-term development within the vibrant Mumbai landscape.
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