Mumbai property registrations fall 4% in February: Knight Frank India

11,541 property sale registrations second highest till date, contributing Rs 896 crore revenue

Property sale registrations in Mumbai city fell 4.4 per cent in February compared with the same month in 2024, but were the second-highest till date by volume, contributing higher stamp duty revenues than last year, data from property consultancy Knight Frank India revealed.

 

Mumbai city, which comes under the Brihanmumbai Municipal Corporation (BMC) jurisdiction, recorded 11,541 property sale registrations in the month, contributing Rs 896 crore as stamp duty, compared with 12,056 registrations in February 2024, which generated Rs 885 crore for the government. Daily registrations also fell to 412 from 423 in February 2024, yet daily stamp duty collections rose to Rs 32 crore, up from Rs 31 crore.

   

Knight Frank India said that the trend was largely driven by a larger share of high-ticket-size transactions, contributing to higher revenue generation despite similar registration volumes.

 

Registrations have consistently remained above 10,000, significantly higher than pre-pandemic levels, it added. Residential property registrations continued to dominate in February 2025, accounting for 80 per cent of all registrations.

 

Registrations for properties priced at Rs 5 crore and above increased marginally, from 4 per cent to 5 per cent in February 2025, while the mid-range segment (Rs 50 lakh to Rs 2 crore) remained stable, collectively contributing 56 per cent of total registrations, up from 54 per cent in February 2024.

 

Apartments measuring between 1,000 and 2,000 square feet gained popularity in February 2025, with their share of registrations increasing from 8 per cent to 13 per cent.

 

Smaller units up to 500 square feet saw a significant decline in registrations, falling from 48 per cent to 38 per cent.

 

The Central Suburbs saw the highest increase in market share, rising from 29 per cent in January 2024 to 33 per cent in January 2025, followed by Central Mumbai and South Mumbai, both improving their shares to 11 per cent.

 

Meanwhile, the Western Suburbs, though continuing to hold the largest share of transactions, saw a decline from 55 per cent to 45 per cent.