Mumbai city (under BMC jurisdiction) registered sales of 11,565 properties in May 2025, contributing Rs 1,062 cr to the state’s revenue. While property registrations declined by 4% year-on-year (YoY) in May 2025, stamp duty collection witnessed a rise of 3% during the same period. This uptick in revenue is attributed to a rise in transactions in the Rs 5 cr and above segment. The market continues to be driven by residential demand, with 80% of all registrations in the month attributed to residential properties.
Shishir Baijal, Chairman & Managing Director, Knight Frank India, stated, “In May 2025, the Mumbai residential market saw a 4% YoY decline in property registrations, as properties priced between Rs 1–5 cr recorded a slowdown in sales momentum. However, this dip did not impact the revenue collection, owing to higher sales velocity for properties priced above INR 5 cr. On a year-to-date basis, Mumbai recorded a 24% YoY increase in registrations, totalling 64,461 properties, and a 17% rise in revenue, with stamp duty collections exceeding Rs 5,696 cr.”
May 2025 saw a clear divergence in buyer activity, with growth concentrated at the higher ends of the price spectrum. Registrations for properties priced above Rs 5 cr increased from 5% in May 2024 to 7% in May 2025. In contrast, the mid-priced segments, particularly those between Rs 1 cr and 5 cr, witnessed a decline in share.
Properties up to 1,000 sq ft continue to lead in registrations.
Apartments up to 1,000 sq ft continued to dominate Mumbai’s residential registrations in May 2025, accounting for 83% of all transactions—unchanged from the previous year. Within this category, the 500–1,000 sq ft range remained the most preferred, with a 44% share. However, larger homes witnessed growing interest: units measuring 1,000–2,000 sq ft saw a marginal increase in share from 13% to 14%, while those over 2,000 sq ft rose from 2% to 3%. This trend highlights a steady, if gradual, shift in buyer appetite toward more spacious living, even as compact homes continue to lead in overall volumes.
Western Suburb and Central Suburb account for 87% of the total market share.
The Western and Central Suburbs remained the dominant real estate hubs, accounting for 87% of the total market share. However, South Mumbai witnessed an uptick in the share of property registrations by 1%.
Source: Knight Frank India
