Mumbai: Mumbai city (under BMC jurisdiction) delivered its strongest housing market performance in 14 years in 2025, with property registrations reaching a high of 150,254 property registrations. Stamp duty collections marked Rs 13,487 crore in revenue, also a 14-year high, underscoring both volume-led strength and improving transaction values.
December 2025 Maintains Momentum With Strong Year-on-Year Growth in Registrations and Revenue
Momentum remained firmly intact through the year-end. In December 2025 alone, 14,447 properties were registered, contributing Rs 1,263 crore to the state exchequer. This translated into a robust 16% year-on-year increase in registrations and an 11% YoY rise in stamp duty collections. Notably, December emerged as the second-strongest month of the year, surpassed only by March, when monthly registrations crossed the 15,000 mark, highlighting the sustained depth and consistency of Mumbai’s residential demand. Residential properties accounted for 80% of total registrations in December.
Shishir Baijal, International Partner, Chairman & Managing Director, Knight Frank India, said “2025 marked a steady and mature phase for Mumbai’s housing market. 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. 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.”
As per real estate consultant Knight Frank India the registration momentum in Mumbai continues to tilt toward the higher price brackets. Homes priced above Rs 5 cr accounted for 7% of total registrations in December 2025, up from 6% a year earlier, reflecting demand in the luxury segment. Meanwhile, the less than Rs 1 cr range saw its share decline as affordability challenges weighed on buyer sentiment in this bracket. The Rs 2–5 cr range remained stable, while the share of properties worth Rs 1 to 2 cr increased from 30% in 2024 to 32% in 2025.
Higher-Value Homes Gain Share as Luxury Segment Shows Steady Expansion
Properties up to 1,000 sq ft continue to lead in registrations in December 2025. Amit Jain, CMD, Arkade developers limited on home sales registrations for December 2025.
“As the year draws to an end, Mumbai showcases positive momentum with a year-on-year and month-on-month increase in property registrations this month. New construction happening across the city has led to an increase in supply and the city has validated the same with a parallel increase in demand. Buyers want premium homes and holistic living with amenities and proximity to essential services. The demand is being aided by strong economic growth and consumption. Investor demand too is rising with rental yields improving across the city. Additionally, upgrading lifestyles, lower interest rates, and improving income shall continue to act as catalysts for future residential demand momentum in the city.“
Western and Central Suburbs Continue to Anchor Majority of Housing Activity
Units up to 1,000 sq ft contributed 82% of all registrations, in-line to last year. The 500–1,000 sq ft segment was the most preferred, striking a balance between affordability and usable space for end-users. Larger homes retained a niche buyer base, with 1,000–2,000 sq ft units edging up to 15% and share of apartments above 2,000 sq ft stood at 3%.
Western Suburb and Central Suburb account for 85% of the total market share in December 2025.
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