Mumbai property registrations up 4% in April, revenue down 6%: Knight Frank

The transactions across the month contributed more than Rs 990 crore to Maharashtra's revenue

Mumbai city, under the jurisdiction of the Brihanmumbai Municipal Corporation, registered over 12,142 property transactions in April 2025—a 4 per cent year-on-year (Y-o-Y) increase—according to real estate consultancy Knight Frank India. However, state revenue from these transactions declined by 6 per cent Y-o-Y.

 

The transactions contributed more than Rs 990 crore to Maharashtra’s revenue. Of the total registrations in April, 80 per cent were attributed to residential properties, including both new sales and resales.

 

A mix of fewer high-value deals and a greater share of lower stamp duty transactions largely accounted for the dip in revenue.

 

Month-on-month (M-o-M), property transactions dropped 22 per cent, while revenue fell 38 per cent. Despite this, April 2025 recorded the highest number of property transactions for the month in the past 13 years.

   

Shishir Baijal, chairman and managing director, Knight Frank India, said, “Properties priced above Rs 2 crore now account for 25 per cent of total registrations, up from 22 per cent a year ago. With the Reserve Bank of India having reduced the policy repo rate by a cumulative 50 basis points, timely transmission by banks will be essential to enhance affordability and strengthen homebuyer sentiment. As infrastructure upgrades reshape the city and aspirations continue to evolve, supportive financial conditions will be key to sustaining market momentum.”

 

Residential transactions in the below Rs 50 lakh, Rs 2–5 crore, and Rs 5 crore and above segments grew on an annual basis. Meanwhile, the Rs 50 lakh–1 crore category remained flat, and the Rs 1–2 crore segment declined by 3 per cent Y-o-Y.

 

Amit Jain, chairman and managing director, Arkade Developers, said that although the rise in transactions may appear modest, it reflects sustained end-user confidence and underlying demand in Mumbai. “This growth comes despite evolving market conditions, including tightening liquidity, geopolitical headwinds, and policy recalibrations,” he noted.

 

Apartments with an area between 500 and 1,000 square feet continued to dominate registrations, accounting for 45 per cent of total transactions.

 

Region-wise, the Western and Central Suburbs remained the leading real estate hubs, commanding 85 per cent of total market share.

 

Dhaval Ajmera, director, Ajmera Realty & Infra India, said, “With the redevelopment boom at its peak, the preferential categories attracting major sales continue to be luxury and mid-segment housing. Micro-markets like Versova, Borivali, and Ghatkopar are witnessing multi-fold growth. This demand appears likely to be sustained in the long term, given the massive infrastructural facelift across the city that is drawing buyers and investors from both within and beyond the national geography.”