Mumbai Records Highest January Property Registrations in 13 Years

Mumbai City, under the Brihanmumbai Municipal Corporation (BMC) jurisdiction has registered its highest January property registrations in 13 years, reflecting the city’s sustained real estate momentum. According to property consultant Knight Frank India, approximately 11,773 properties were registered in January 2025 in Mumbai, marking a 7% year-on-year (Y-o-Y) growth.

These transactions generated over ₹952 crore in stamp duty collections, witnessing a significant 25% Y-o-Y growth, driven by a notable increase in high-value transactions. However, on a month-on-month (M-o-M) basis, property registrations saw a slight decline of 5%, while revenue collections dipped by 16% compared to December 2024.

The report also highlights a growing preference for premium real estate. The share of registrations for properties priced at ₹2 crore and above increased from 16% in January 2024 to 19% in January 2025. This segment accounted for 2,298 transactions in January 2025, demonstrating strong demand for luxury housing. Conversely, the share of registrations for properties valued under ₹50 lakh declined from 31% to 28% during the same period, indicating a shift in buyer preferences towards higher-value properties.

Mumbai’s western and central suburbs retained their dominance, collectively contributing to 86% of the city’s total property registrations. However, there was a noticeable increase in market share for central suburbs, which rose from 29% to 33%, while the share of the western suburbs declined from 57% to 53%. “This growth reflects a surge in supply and heightened end-user interest in these locations,” the Knight Frank India report stated.

Here is what real estate industry leaders have to say on the registrations numbers in January 2025:

Prashant Sharma, President, NAREDCO Maharashtra
"Mumbai’s property market continues to demonstrate resilience and growth, as evidenced by the highest January property registrations in 13 years. The 7% year-on-year increase in transactions and a significant 25% rise in stamp duty collections highlight the enduring confidence of homebuyers. The rise in high-value transactions reflects evolving buyer preferences, particularly towards premium housing. However, there is a need for continued policy support, including rationalization of stamp duty and interest rates, to sustain momentum in the sector.”

Rohan Khatau, Director, CCI Projects
"The latest data underscores the strength of Mumbai’s real estate market, particularly in the premium segment. The increase in transactions for properties priced at ₹2 crore and above showcases a growing appetite for larger apartments. While the western and central suburbs continue to dominate, the rising market share of these suburbs highlights the demand for well-connected, evolving micro-markets. This trend reinforces the importance of delivering high-quality projects that cater to modern homebuyer aspirations."

Shraddha Kedia-Agarwal, Director, Transcon Developers said, "The significant rise in high-value transactions and the consistent dominance of western and central suburbs indicate that homebuyers are prioritizing location, connectivity, and lifestyle-driven amenities. Despite a slight month-on-month dip, the long-term trajectory remains positive, fueled by strong end-user demand. We remain committed to delivering premium and sustainable living spaces that align with these market trends.”

Samyak Jain, Director, Siddha Group said, "The Mumbai property market’s performance in January 2025 reflects a healthy demand trajectory, especially in the premium housing segment. The shift towards higher-value properties highlights the evolving aspirations of homebuyers, with a preference for larger, well-appointed residences. The growth of central suburbs further emphasizes the need for integrated developments that offer connectivity, modern infrastructure, and elevated living. Moving forward, stability in interest rates and continued infrastructure development will be crucial in sustaining this demand."

Abhishek Jain, COO, Satellite Developers Private Limited (SDPL) said, "The growing demand for premium housing is a testament to Mumbai’s evolving real estate landscape. The increased share of transactions in the ₹2 crore and above segment signifies that homebuyers are willing to invest in quality, space, and long-term value. With the western and central suburbs continuing to drive most transactions, developers must focus on delivering high-end projects that cater to this demand. Sustained policy support, such as stamp duty benefits, could further accelerate this positive trend.”