Mumbai clocks over 1.5 lakh property registrations in 2025: Knight Frank

Mumbai’s housing market delivered its strongest performance in over a decade in 2025, with property registrations crossing the 1.5 lakh mark for the first time in 14 years, according to data released by Knight Frank India.

Property registrations within the Brihanmumbai Municipal Corporation (BMC) limits rose to 150,254 during the year, while stamp duty collections climbed to Rs 13,487 crore, also a 14-year high. The surge reflects both higher transaction volumes and a gradual improvement in per-unit property values.

December 2025 capped the year on a strong note, with 14,447 properties registered during the month, contributing Rs 1,263 crore to the state exchequer. This marked a 16% year-on-year increase in registrations and an 11% rise in stamp duty collections compared with December 2024.

December emerged as the second-strongest month of the year, trailing only March, when monthly registrations crossed the 15,000 level. The trend underscores the sustained depth and consistency of residential demand in India’s largest property market.

“2025 marked a steady and mature phase for Mumbai’s housing market, with property registrations crossing 1.50 lakh—the highest level seen in the last 14 years,” said Shishir Baijal, chairman and managing director of Knight Frank India. “This milestone highlights the resilience of the market, driven by strong end-user demand and a far more supportive supply-side ecosystem.”

Baijal added that rising stamp duty collections signal an improvement in transaction values, aided by a sharp correction in affordability. Mumbai’s affordability ratio improved to 47% in 2025, from levels where home loan EMIs once consumed as much as 97% of household income.

“This shift shows that at the right price points and with appropriate product offerings, homebuyers in Mumbai are both willing and able to commit capital,” he said.