Mumbai’s real estate market continued its robust performance in May 2026, recording the highest number of property registrations for the month in the past 14 years. According to data from the Maharashtra Department of Registrations and Stamps, analysed by Knight Frank India, a total of 12,315 properties were registered within the Brihanmumbai Municipal Corporation (BMC) limits during the month, reflecting a 7% year-on-year increase.
Industry experts attribute much of this growth to the rising pace of redevelopment projects across the city. As older residential buildings undergo redevelopment, existing occupants are required to register fresh ownership documents due to changes in flat numbers, configurations and carpet areas, contributing significantly to registration volumes.
Explaining the trend, Hitesh Thakkar, Vice President, NAREDCO Maharashtra, said, “The fact that a property needs to be re-registered or newly registered in a redevelopment project is adding to the registrations. In any redevelopment project, the existing members/tenants need to get a fresh document – PAAA, registered as their unit/flat/floor number changes, and the area of the house also changes compared to their old flats.”
Apart from redevelopment, industry stakeholders point to continued homebuyer confidence, growing interest from non-resident Indians (NRIs) and greater transparency in the housing sector as key factors supporting demand.
Navin Sharma, developer, said, “A home offers both financial confidence and emotional comfort, while also helping build long-term wealth. In uncertain times, people naturally prefer assets that have real value and practical utility, and real estate continues to stand out on both counts. Considering the global uncertainty, more and more NRIs are also buying properties back home. Also, the regulatory transparency through RERA has encouraged people into homebuying.”
While transaction volumes rose, stamp duty collections saw a slight decline. The Maharashtra government collected more than ₹1,051 crore in stamp duty revenue during May, down 1% compared to the same period last year. Experts believe the decline reflects a changing transaction mix, with redevelopment-related registrations accounting for a larger share of overall activity.
Commenting on the market’s performance, Shishir Baijal, International Partner, Chairman and Managing Director, Knight Frank India, said:
“Mumbai’s residential market continues to demonstrate remarkable resilience, with May 2026 recording the strongest performance for the month in more than a decade. The sustained volume of registrations reflects the depth of end-user demand and confidence in the city’s housing market. While stamp duty collections moderated marginally, suggesting some normalisation in transaction values, overall market fundamentals remain robust, supported by stable demand, improving affordability dynamics and continued preference for homeownership among buyers.”
Source: Mid-day
