Mumbai’s residential real estate market continued to display resilience in February 2026, recording a year-on-year increase in property registrations along with a notable jump in stamp duty collections. The trend points to renewed buyer confidence and growing interest in higher-value homes across the city.
The improvement comes shortly after a relatively cautious start to the year. In January 2026, developers launched 15,771 residential units in Mumbai, marking an 11% decline compared to the same period last year, largely due to rising unsold inventory and a more measured approach from developers. However, the rebound in registrations within a month suggests that end-user demand in the market remains steady.
According to data from the Maharashtra Department of Registrations and Stamps (IGR), analysed by Knight Frank India, properties within the Brihanmumbai Municipal Corporation jurisdiction recorded 12,848 registrations in February 2026. This represents a 6% increase compared to the 12,066 registrations reported in February 2025.
The rise in transactions has also translated into stronger revenue for the state government. Stamp duty collections during the month stood at Rs 1,118 crore, reflecting a 20 per cent increase from Rs 935 crore collected during the same period last year.
Premium housing demand grows
The increase in stamp duty receipts also indicates a growing preference for higher-value residential purchases. Homes priced above Rs 5 crore accounted for 8% of total registrations in February 2026, up from 6% a year earlier. Similarly, the Rs 2 crore to Rs 5 crore price bracket expanded its share to 20 per cent, compared with 17% in February 2025.
Affordable housing saw moderate growth, accounting for 33% of overall registrations, slightly higher than the 31% share last year. However, the proportion of homes priced below Rs 1 crore declined, highlighting a gradual shift in buyer preference toward mid-range and premium properties.
Suburban markets lead activity
Mumbai’s suburban regions continued to dominate residential transactions. The western suburbs accounted for 57% of all registrations in February 2026, reflecting strong demand supported by improving connectivity and infrastructure. Meanwhile, the central suburbs contributed around 30 per cent of the registrations, slightly lower than their 34% share a year earlier.
Demand in core city areas remained comparatively limited due to higher price points and constrained supply.
Shishir Baijal, Chairman and Managing Director of Knight Frank India, noted that the data reflects the structural strength of Mumbai’s housing market rather than a short-term surge. He pointed out that mid-to-premium housing segments are gaining momentum, while suburban micro-markets continue to attract buyers due to improving infrastructure and better connectivity.
Source: Outlook Money
