Mumbai clocks stamp duty revenue of Rs 12,899 crore in FY25: Knight Frank

Mumbai clocked stamp duty revenue of Rs 12,899 crore in FY25 through the registration of 143,948 properties, according to Knight Frank India.

 

The revenue collection increased by 22 per cent year-on-year (Y-o-Y), while property registration went up by 9 per cent.

 

Month-wise, Mumbai collected the highest-ever stamp duty revenue in a month, as 15,603 properties were registered with the city authorities, generating a revenue of Rs 1,597 crore in March, said Knight Frank.

 

Registrations increased by 10.3 per cent, while stamp duty collections for the month grew by 45 per cent, reaching their highest-ever monthly levels, driven largely by a rise in high-value transactions.

 

On a month-on-month (M-o-M) basis, property registrations rose by 29 per cent, while stamp duty collections surged by 71 per cent, making March 2025 the most active month in the past 12 months. 

 

Residential properties continued to dominate, accounting for 80 per cent of all registrations in March.

 

Daily property registrations also grew from 388 units in April 2024 to 503 units in March 2025.

 

In March 2025, the share of registrations for properties priced Rs 2 crore and above increased from 17 per cent in March 2024 to 19 per cent in March 2025, totalling 2,924 transactions. Meanwhile, registrations for properties priced below Rs 50 lakh declined from 30 per cent to 28 per cent, underscoring a clear demand shift toward premium homes.

 

The Western and Central Suburbs of the city remained the dominant real estate hubs, accounting for 78 per cent of the total market share. 

 

The Central suburbs experienced a growth, increasing their share from 29 per cent to 34 per cent, while the Western suburbs saw a decline from 55 per cent to 44 per cent. 

 

Apartments up to 1,000 square feet (sq ft) continued to lead in registrations, but larger homes gained traction as units between 1,000 and 2,000 sq ft saw their share increase from 8 per cent to 13 per cent. Those above 2,000 sq ft remained stable at 1 per cent. In contrast, smaller units (up to 500 sq ft) saw registrations decline from 48 per cent to 38 per cent.

 

Shishir Baijal, chairman & managing director, Knight Frank India, said, “The robust demand for premium homes reflects sustained buyer confidence and economic stability. The preference for larger apartments signals evolving homebuyer aspirations. The anticipated easing of interest rates in the coming months is likely to further bolster market sentiment.”