 "Mumbai sees highest Jan property registrations in 13 years: Knight Frank")
Mumbai city, the area which falls under Brihanmumbai Municipal Corporation, recorded the highest number of property registrations (11,773) in January in 13 years, up 7 per cent year-on-year (Y-o-Y), according to property consultant Knight Frank India.
These transactions generated over Rs 952 crore in stamp duty during the same period, marking a 25 per cent Y-o-Y growth amid a rise in high-value transactions.
However, the registrations and the revenue, both, were down on a month-on-month (M-o-M) basis. The property registrations declined by 5 per cent, while the revenue collections dipped by 16 per cent when compared to December 2024.
Knight Frank attributed the decline to a seasonal dip typically observed in January. “Historically, both property registrations and revenue collections have shown a dip in January compared to the preceding December,” it said.
Price category-wise, properties worth less than Rs 50 lakh (often referred to as the affordable segment) saw a Y-o-Y decline of 4 per cent in transactions. Meanwhile, transactions of properties worth Rs 5 crore and above increased 53 per cent Y-o-Y. As many as 1,680 properties priced between Rs 2 and 5 crore were registered in January 2025, up 31 per cent Y-o-Y.
The Western suburbs and Central suburbs continued to dominate, accounting for 86 per cent of total market share. However, the share of Central Suburbs increased from 29 per cent to 33 per cent, while the Western Suburbs saw a slight decline from 57 per cent to 53 per cent. “This growth reflects a surge in supply and heightened end-user interest in these locations,” the report said.
Shishir Baijal, chairman and managing director, Knight Frank India, said, “Steady economic activity and potential interest rate adjustments are expected to further support the market throughout 2025, creating a favourable environment for homebuyers.”