December 5, 2025: Mumbai’s real estate sector continued its strong upward trajectory in November 2025, recording 12,219 property registrations—a 20% year-on-year increase and the highest November figure since 2013. Data from the Maharashtra Inspector General of Registration (IGR) shows robust home-buying activity, with stamp duty collections rising 12% to Rs 10.38 billion. Residential transactions drove the momentum, forming nearly 80 per cent of all registrations, according to analysis by Knight Frank.
Between January and November 2025, the city registered 135,807 properties, contributing Rs 122.24 billion in stamp duty to the state. This represents a 5% rise in registrations and an 11% increase in state revenue compared to last year, signalling sustained demand across major micro-markets and continued buyer confidence.
Industry experts attribute the surge to improving affordability, strong infrastructure upgrades, and a growing preference for high-quality, well-located homes. “The robust 20% year-on-year increase in property registrations in November is a clear indicator of growing buyer confidence and renewed momentum in Mumbai’s residential market… this uptick reflects a broader shift: buyers are increasingly opting for well-located, good-quality homes with long-term value,” said Prashant Sharma, President, NAREDCO Maharashtra.
Kaushal Agarwal, Chairman of The Guardians Real Estate Advisory, added, “The November property registration numbers reaffirm that Mumbai’s real estate market continues on a healthy growth trajectory… the rising share of luxury homes priced above Rs 5 crore further indicates that demand is being driven not just by affordability, but also by aspiration, upgraded lifestyle choices, and long-term value perception.”
Market sentiment remains upbeat, with developers observing strengthened purchasing interest. “November has delivered a landmark result for Mumbai — 12,219 property registrations, up 20% from last year, and the best November since 2013… buyer sentiment remains resilient,” said Shilpin Tater, Managing Director, Superb Realty.
Echoing the trend, Ms Shraddha Kedia-Agarwal, Director, Transcon Developers, noted, “The November property registration figures reflect a renewed confidence among home-buyers in Mumbai… well-priced and well-located residential offerings, especially in the mid-income and premium segments, are resonating with buyers.”
Offering a cautionary perspective, Dhruman Shah, Promoter of Ariha Group, said, “The 20% YoY increase in property registrations in November is a very positive signal for Mumbai’s real estate cycle… developers must balance optimism with prudence to deliver on time and maintain affordability without compromising quality.”
Source: Construction World
