Mumbai property registrations mark best November since 2013: Knight Frank

In the first eleven months of 2025, Mumbai recorded over 1.35 lakh registrations, contributing more than Rs 12,224 crore to the state

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Mumbai city (area under Brihanmumbai Municipal Corporation jurisdiction) registered 12,219 properties in November — the best November since 2013 — according to Knight Frank India. Registrations rose 20 per cent year-on-year (Y-o-Y).

 

Stamp duty collections reached ₹1,038 crore, up 12 per cent Y-o-Y. Month-on-month (M-o-M), registrations grew 5 per cent, while stamp duty was flat. Residential demand dominated, accounting for 80 per cent of all registrations. The registrations include new sales as well as re-sales.

 

In the first 11 months of 2025, Mumbai recorded over 1.35 lakh registrations, contributing more than ₹12,224 crore to the state. Registrations grew 5 per cent Y-o-Y, and revenue rose 11 per cent Y-o-Y during the period.

 

The revenue rise was supported by “firm demand across segments and a clear shift toward higher-value homes”, said Shishir Baijal, chairperson and managing director (CMD), Knight Frank India.

 

“With registrations crossing 135,000 units in the first 11 months, the market is operating at a structurally higher baseline, and monthly activity has consistently stayed healthy. The stability in both volumes and revenue highlights a mature demand cycle and continued buyer confidence across Mumbai,” he said. 

 

Higher-value homes drove activity. Properties priced above ₹5 crore formed 7 per cent of November registrations, up from 5 per cent last year, indicating strong luxury demand. The less than ₹1 crore bracket saw a declining share due to affordability pressures. The ₹2-5 crore category was flat, while the ₹1-2 crore segment increased from 31 per cent in 2024 to 33 per cent in 2025.

 

Units up to 1,000 square feet made up 84 per cent of registrations, similar to last year. The 500-1,000 square feet range was most preferred for its balance of cost and space. Larger homes held a niche audience: 1,000-2,000 square feet units rose to 13 per cent, and those above 2,000 square feet increased to 4 per cent.

 

Suburban markets dominated activity. Western and Central Suburbs accounted for 85 per cent of November registrations — Western suburbs led with 56 per cent, Central suburbs had 29 per cent. South Mumbai held 9 per cent, while Central Mumbai slipped to 6 per cent.

 

Amit Jain, CMD, Arkade Developers, said, “The surge, powered primarily by residential demand from end-users and upgraders across mid-income and premium categories, marks the best November since 2013 and highlights the city’s structural resilience.”

 

With interest rates stable, household incomes improving, and developers consolidating, the outlook “remains upbeat”, indicating that Mumbai’s housing market is entering a multi-year growth cycle rather than witnessing a short-term spike, he said.