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Mumbai’s property market continued its strong performance in February, recording 11,541 sale registrations under the Brihanmumbai Municipal Corporation’s jurisdiction. The registrations contributed Rs 896 crore in stamp duty revenue to the state government, according to data from Knight Frank India.
Despite February being a shorter month, Mumbai maintained an average of 412 daily property registrations, marking a 4 per cent sequential increase from January 2025 (395 units). Meanwhile, daily stamp duty collections remained stable at Rs 32 crore, up from Rs 31 crore in February 2024. The increase in stamp duty revenue was attributed to a higher proportion of high-value transactions.
Stable growth and market resilience
In February, Mumbai recorded more than 11,541 property registrations, compared to 12,056 in February 2024. Despite the moderation, the city recorded its second-best performance for the month of February on record in terms of property registration indicating a phase of stabilization.
Notably, registrations have consistently remained above 10,000, significantly higher than pre-pandemic levels. This sustained activity reflects a healthy market, driven by positive homebuyer sentiment, steady economic conditions, and ongoing large-scale infrastructure development.
“The Mumbai property market has consistently recorded over 11,000 properties per month; however, the rate of growth has moderated,” said Shishir Baijal, chairman & managing director, Knight Frank India..
“In February 2025, the city continued to record sequential growth in per-day registrations of 4 per cent sequentially, which was largely supported by the premium segment. The high–end segment, particularly (over) Rs 5 crore, recorded an annual growth of 15 per cent year-on-year (Y-o-Y). Contrary to this, the lower ticket size segment of Rs 50 lakh and below saw a notable reduction in demand of 19 per cent Y-o-Y. As Mumbai’s economy expands and infrastructure developments progress, the city’s property market can continue to benefit of this strong growth potential,” he said. Also Read: Golden visas: Indians curious about it but few apply. Expert explains why
Premium properties and larger homes in demand
Registrations for units priced above Rs 5 crore grew by 15 per cent Y-o-Y, highlighting the demand for high-value properties. Properties priced below Rs 50 lakh saw a 19 per cent drop in registrations, reflecting shifting buyer preferences toward mid-range and premium segments.
Breakdown of property transactions by price segment:
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Similarly, larger homes gained traction, with registrations for apartments measuring 1,000-2,000 sq ft increasing from 8 per cent to 13 per cent. The demand for compact units (below 500 sq ft) dropped significantly from 48 per cent to 38 per cent, indicating a shift towards spacious residences.
Breakdown of property transactions by size:
Shifts in Micro-Market Preferences
The distribution of property registrations across Mumbai’s micro-markets has also evolved, with the Central Suburbs witnessing the highest increase in market share.
Breakdown of property transactions by Micro-Market:
The central suburbs saw an increase from 29 per cent in February 2024 to 33 per cent in February 2025, while Central Mumbai and South Mumbai also gained market share at 11 per cent each. Despite the western suburbs retaining the largest share, its dominance slightly declined from 55 per cent to 45 per cent, indicating a broader redistribution of demand due to infrastructure upgrades and improved connectivity.
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