Mumbai property registrations fall 14% in Oct: Knight Frank India report

Despite a 14 per cent annual dip, Mumbai's housing market held steady above 11,000 registrations in October 2025, with demand led by mid-income buyers and Western suburbs

Mumbai city (area under BMC jurisdiction) is expected to record around 11,200 property registrations in October 2025, down 14 per cent year-on-year (Y-o-Y), mainly due to a high base, according to a report by Knight Frank India, a real estate consultancy firm.

 

The stamp duty collections are also expected to be around Rs 1,004 crore, down 17 per cent Y-o-Y. October last year had seen strong festive momentum driven by Navratri (3–11 Oct) and Diwali (1 Nov 2024). In contrast, this year’s festive activity was concentrated in September, with Navratri falling from 22 Sep–1 Oct and only Diwali (20 Oct) driving festive activity.

 

While lower than last year, numbers remained above the 11,000 mark, Knight Frank stated. On a month-on-month basis, registrations were down 7 per cent and stamp duty collections dipped 22 per cent. The registrations include new sales as well as re-sales.

 

Residential deals dominate registrations

 

Residential deals continued to dominate, accounting for about 80 per cent of total registrations during the month.

 

So far in 2025, Mumbai has recorded over 1.23 lakh property registrations, contributing more than Rs 11,151 crore to the state exchequer during this period. Property registrations observed a 4 per cent Y-o-Y growth during this period, while revenue grew by 11 per cent Y-o-Y. Sustained buyer confidence has fuelled consistent sales, driven by the city’s property registration growth, Knight Frank noted.

 

Festive timing impacts monthly trend, says Knight Frank

 

Shishir Baijal, chairperson and managing director, Knight Frank India, said, “Mumbai’s housing market continues to display depth and stability through 2025. While October saw a moderation from last year’s festive-driven high base, the city still recorded over 11,000 registrations, underscoring resilient underlying demand. The shift in the festive calendar advanced much of the celebratory buying to September, yet activity in October remained strong. The moderation in year-on-year growth is largely a function of the festive timing rather than any real market correction, highlighting the consistency and maturity of demand across segments.”

 

Mid-income homes dominate, luxury share steady

 

Homes priced below Rs 1 crore dominated, with their share rising from 45 per cent in October 2024 to 48 per cent this year. The Rs 1–2 crore category held firm at 31 per cent, indicating a stable core of mid-income demand, while the Rs 2–5 crore segment eased slightly to 16 per cent. The share of transactions worth over Rs 5 crore stayed unchanged at 6 per cent, pointing to consistent but limited luxury activity.

 

Western suburbs lead market share; Central, South Mumbai follow

 

Western and Central Suburbs together accounted for 84 per cent of all registrations in October 2025, slightly lower than 86 per cent last year but still reflecting their dominant role in the city’s housing market.

 

The Western Suburbs led the market activity with a 55 per cent share, supported by strong traction in mid-range inventory. Central Suburbs followed at 29 per cent, while South Mumbai’s share rose to 10 per cent.