Mumbai recorded 4,680 property registrations during the nine-day Navratri festival this year, marking a 25% decline from 6,238 registrations in the corresponding period of 2025. Revenue generated through property registrations also dropped 15% year-on-year to Rs 499 crore, according to Inspector General of Registration (IGR) data accessed by Knight Frank India.
Navratri was observed between October 11 and 19 in 2026, compared with September 22 to October 1 last year. Industry experts attributed the decline partly to fewer working days and a stronger comparison base in 2025.
Last year’s 10-day festive period included nine working days, whereas this year’s nine-day window had two Sundays, leaving only seven working days for registrations. Some moderation in housing demand also contributed to the lower numbers, Knight Frank India told Hindustan Times.
The average number of property registrations per working day fell to 669 this year from 693 during Navratri 2025. Revenue collections decreased from Rs 587 crore to Rs 499 crore, while average daily collections dropped from Rs 59 crore to Rs 55 crore.
Despite the year-on-year slowdown, registrations per working day remained above 2024 levels, indicating continued buyer participation.
“Navratri registrations have moderated against the high base set last year, but the daily figures offer a more measured view of the market activity. Registrations per working day remained above 2024 levels in 2026, while revenue has declined less sharply than transaction volumes. Together, these trends suggest that Mumbai’s housing market continues to see buyer participation, even as festive-period activity normalises,” said Shishir Baijal, International Partner, Chairman and Managing Director of Knight Frank India.
“The next phase of market performance will depend on how demand evolves across price segments and how effectively housing supply aligns with buyer preferences,” he added.
Property Registrations Rise During Shraddh
In contrast, Mumbai recorded a modest increase in property registrations during the Shraddh period, traditionally considered unfavourable for major purchases.
Between September 26 and October 10, registrations reached 3,419, up 2% from 3,368 in the same period last year. Average daily registrations increased from 306 to 311.
However, revenue figures showed a slight decline, with collections reported at Rs 265 crore in both years despite a stated 4% year-on-year fall in the data. Average daily collections were also reported at Rs 24 crore for both periods.
Source: Hindustan Times
