Mumbai’s property market set a new record in November as registrations rose 20% year-over-year to 12,219, according to data from Maharashtra’s Inspector General of Registration. Stamp duty collections climbed 12% YoY to ₹1,038 crore, signaling sustained buyer demand across the city, as reported by the Hindustan Times.
On a month-over-month basis, registrations increased 5% while stamp duty collections held steady.
The growth was driven largely by residential buyers, who accounted for 80% of all registrations, Knight Frank India said in its latest analysis.
From January through November 2025, Mumbai recorded more than 1,35,800 property registrations, contributing ₹12,224 crore to the state exchequer. Registrations rose 5% YoY during the 11-month period, while government revenue expanded 11% YoY.
Shishir Baijal, chairman and managing director at Knight Frank India, said the city continues to operate at a “structurally higher baseline.”
“Mumbai’s residential market has extended its steady momentum into November, posting a 20% YoY rise in registrations and marking the city’s best November since 2013,” he said. “Demand across segments and a shift toward higher-value homes supported a 12% rise in revenue. With registrations crossing 135,000 units in the first eleven months, monthly activity has consistently stayed healthy.”
Registrations in the luxury market strengthened in November. Homes priced above ₹5 crore accounted for 7% of total deals, up from 5% during the same month last year. The uptick reflects deeper demand for premium and luxury residences.
Meanwhile, properties priced below ₹1 crore saw diminishing share as affordability pressures affected sentiment in that segment. The ₹2 crore to ₹5 crore bracket remained steady, while homes between ₹1 crore and ₹2 crore grew from 31% in 2024 to 33% in 2025.
Homes measuring up to 1,000 square feet made up 84% of all registrations, mirroring last year’s trend. Units between 500 and 1,000 sq ft remained the most popular for end-users seeking a blend of affordability and practical space.
Larger homes also registered modest gains. Properties measuring 1,000–2,000 sq ft edged up to a 13% share, while units above 2,000 sq ft rose to 4%.
Western and Central Suburbs continued to act as the main hubs of residential activity, accounting for 85% of registrations in November. The Western Suburbs led with a 56% share, while the Central Suburbs contributed 29%.
South Mumbai held steady at 9%, while Central Mumbai’s share declined to 6%, according to the data.
Mumbai’s steady rise in registrations and growing appetite for higher-value homes underline a resilient residential market that has shown consistent momentum throughout 2025.