Mumbai’s residential property market began 2026 on a steady footing, with transaction volumes softening while Mumbai housing prices remained stable. According to official registration data for January, property registrations declined 8% year-on-year to 11,219 units. However, stamp duty collections rose 2% to Rs 1,012 crore, indicating continued strength in transaction values.
The gap between lower volumes and higher revenue suggests a shift in buyer preference rather than a drop in demand. Analysts tracking Mumbai housing prices note that purchasers are increasingly opting for higher-value homes, supporting revenue even as the number of deals moderates. On a month-on-month basis, registrations fell from December levels, which typically see elevated activity due to festive demand and year-end closures. Observers attribute the sequential decline to seasonal patterns and fewer working days.
Residential properties accounted for nearly 80% of total registrations, highlighting the dominance of end-user demand over speculative investment. Stable home loan rates, expanding metro connectivity and ongoing infrastructure upgrades across the Mumbai Metropolitan Region have helped sustain buyer sentiment.
Premiumisation trends were visible across segments. Homes priced above Rs 5 crore increased their share to 7 per cent of total registrations, while the Rs 2–5 crore segment also expanded. In contrast, properties priced below Rs 1 crore saw a relative decline, reflecting affordability constraints in a market characterised by high land and compliance costs.
Apartments up to 1,000 sq ft represented 83% of registrations, with the 500–1,000 sq ft range emerging as the most active category. Larger homes above 2,000 sq ft continued to see selective demand. Regionally, the Western Suburbs led activity, followed by the Central Suburbs, while South Mumbai accounted for a smaller share due to limited supply and higher pricing.
Source: Urban Acres
