Mumbai’s housing market continues to outperform several major property markets across India, with residential property registrations reaching multi-year highs in April and May 2026 despite signs of moderation elsewhere.
According to data from property consultancy firm Knight Frank India, Mumbai recorded 13,864 property registrations in April and 12,315 registrations in May, marking the highest figures for these months in the past 14 years. The performance highlights the resilience of the city’s residential sector at a time when property demand in several other regions has shown signs of slowing.
Industry experts attribute the growth to a combination of end-user demand, redevelopment-driven activity, new project launches and infrastructure-led expansion across the Mumbai Metropolitan Region (MMR). Residential properties account for nearly 80% of total registrations in Mumbai, with transactions typically being registered within one to two months of sale due to local RERA regulations.
Vivek Rathi, National Director – Research at Knight Frank India, said expanding infrastructure across Mumbai and its suburbs has widened choices for homebuyers, particularly in the northern and western suburbs.
“Most of purchases are upgrades,” he said, adding that Mumbai is also seeing a favourable phenomenon of alignment between price rise and income growth over the last couple of years.
Compared to other major cities, Mumbai has also witnessed relatively moderate price appreciation. Rathi noted that residential prices in Mumbai have grown by around 7–10% annually in recent years, compared to 10–12% in Hyderabad and 15–17% in Gurugram.
Sanjay Dutt, Managing Director and CEO of Tata Realty & Infrastructure, said investor behaviour may also have contributed to higher registrations. “Stock markets have fallen. Gold and silver are not doing well. Hence, buyers have turned to real estate,” he said, while noting that Navi Mumbai has emerged as an important property market within the region.
Redevelopment activity has also played a role in boosting registration numbers. Prashant Thakur, Executive Director and Head, Research and Advisory at Anarock Property Consultants, pointed out that replacement homes allotted under redevelopment projects must also be registered. Knight Frank data shows that 229 development agreements for redevelopment projects were signed in 2025, compared to 196 in 2024.
Industry observers, including Pankaj Kapoor of Liases Foras, believe redevelopment-led transactions have significantly influenced Mumbai’s registration figures, underscoring the growing role of urban renewal in the city’s real estate market.
Source: Financial Express
