Mumbai’s residential property market recorded its strongest September performance in more than 14 years, with 12,622 properties registered during September 2026. The figure was 5% higher than the 12,070 registrations recorded in the same month last year, according to Maharashtra Department of Registrations and Stamps data analysed by Knight Frank India.
September registrations also edged up from August’s 12,580 transactions, marking a 0.3% month-on-month increase. However, the rise in registration volumes did not translate into higher stamp duty collections. Maharashtra’s revenue from stamp duty stood at Rs 1,227 crore in September, down 5% from Rs 1,292 crore recorded a year earlier.
Knight Frank attributed the decline in stamp duty collections primarily to changes in the composition of property transactions during the month.
The festive season provided a significant boost to Mumbai’s housing activity. Between September 14 and 25, coinciding with the Ganesh Chaturthi period, the city recorded 5,379 property registrations. This represented a 22% year-on-year increase and marked the highest registration count for the festive period in four years.
Stamp duty revenue also rose sharply during the festival. Collections reached ₹640 crore, accounting for more than half of September’s total revenue and representing a 32% increase over the ₹485 crore collected during the corresponding period in 2025.
The latest figures also point to a substantial increase in Mumbai’s September registration activity over the longer term. The city recorded 4,116 registrations in September 2013. The number crossed 7,800 in 2021 and exceeded 10,000 in 2023, when 10,694 properties were registered. The figure subsequently climbed to 12,070 in September 2025 before reaching the latest 12,622.
Shishir Baijal, Chairman and Managing Director of Knight Frank India, said the September numbers reflected continued participation from homebuyers, particularly during the Ganesh Chaturthi period. He also noted that buyers remain selective, with properties in well-connected locations and projects supported by strong infrastructure continuing to attract interest.
The data indicates sustained transaction activity in Mumbai’s residential market, even as the value and composition of individual transactions influence overall stamp duty collections.
Source: Business Today
