Mumbai's property market displayed resilience in February 2025, recording 11,541 property registrations within the Brihanmumbai Municipal Corporation's jurisdiction. This activity generated Rs 896 crore in stamp duty revenue for the state government, showcasing the city's robust real estate dynamics.
Despite February being a shorter month, the average daily property registrations stood at 412, representing a 4% increase from January 2025, when 395 units were registered each day. The stability in stamp duty collections, maintaining at Rs 32 crore daily, signifies a buoyant market driven by high-value transactions. February 2025 marked the second-best February ever in terms of registrations, indicating a phase of market stabilisation after the pandemic-induced disruptions.
The consistent performance of over 11,000 monthly registrations underscores a sustained healthy market, driven by positive homebuyer sentiment and ongoing infrastructure projects. "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. The market's resilience is further reflected in the fact that monthly registrations have consistently exceeded pre-pandemic levels, demonstrating a robust recovery trajectory. As economic conditions remain stable, the city's property market continues to attract buyers and investors, contributing to the overall growth of the sector.
Mumbai's property market witnessed a notable demand shift towards high-end properties, with registrations for units priced above Rs 5 crore growing by 15% year-on-year. In contrast, properties priced below Rs 50 lakh saw a 19% decrease in demand, reflecting a preference for bigger investments.
"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. Contrary to this, the lower ticket size segment of Rs 50 lakh and below saw a notable reduction in demand of 19 per cent year-on-year. As Mumbai’s economy expands and infrastructure developments progress, the city’s property market can continue to benefit from this strong growth potential," Baijal added.
The preference for larger homes has also become evident, with registrations for apartments sized between 1,000-2,000 square feet increasing from 8% to 13%. In contrast, there was a significant drop in compact unit registrations (below 500 square feet), from 48% to 38%, suggesting a growing inclination towards more spacious living arrangements. This trend indicates a shift in buyer preferences towards comfort and space, likely stimulated by the experiences of the pandemic and the increased emphasis on quality living spaces.
A notable geographic shift in demand has been observed, with the Central Suburbs gaining market share, increasing from 29% in February 2024 to 33% in February 2025. Conversely, the Western Suburbs, although maintaining the largest market share, saw a decline from 55% to 45%. This redistribution of demand is attributed to infrastructure improvements and enhanced connectivity in the Central Suburbs, making them more attractive to buyers. The evolving preferences and strategic developments are shaping Mumbai's property landscape, indicating a dynamic market responding to modern needs and infrastructural advancements.