Mumbai City has reported 11,541 property sale registrations for February 2025, generating Rs 896 crore in stamp duty revenue for the state. Despite the month being shorter, key metrics showed a solid performance.
- February 2025 recorded an average of 412 daily property registrations.
- Residential properties accounted for 80% of total registrations.
Strong Performance Amid Stabilization Trends
February 2025 marked a notable month for Mumbai’s real estate market, with 11,541 property registrations. This number reflects a slight decline from 12,056 registrations in February 2024 but still represents the second-best performance for the month in recent years. The city’s daily registration rate averaged 412, a 4% improvement from January 2025, when 395 properties were registered daily. The stability in daily stamp duty collections, maintaining at Rs 32 crore, mirrors the previous month’s performance.
According to Shishir Baijal, Chairman & Managing Director of Knight Frank India, “The Mumbai property market has consistently recorded over 11,000 properties per month; however, the growth rate has moderated.” This sentiment suggests a stabilizing market, bolstered by steady demand driven by positive homebuyer sentiment and ongoing infrastructure development.
Preference for High-End Properties and Larger Homes
The Mumbai property market is witnessing a significant shift in buyer preferences. Notably, registrations for properties priced at Rs 5 crore and above experienced a 15% year-on-year increase in February 2025. This trend indicates a growing inclination towards premium segments. Conversely, properties valued below Rs 50 lakh saw a 19% decline, reflecting a shift in market dynamics. The mid-range segment, priced between Rs 50 lakh and Rs 2 crore, remained stable, contributing collectively to 56% of total registrations.
Furthermore, the popularity of larger apartments is on the rise, with properties measuring between 1,000 and 2,000 square feet increasing their share from 8% to 13%. In contrast, smaller units up to 500 square feet experienced a significant decline, dropping from 48% to 38%. This shift depicts a growing preference for more spacious living environments, aligning with broader lifestyle changes among homebuyers.
Micro-Market Trends Highlight Shifting Demand
In January 2025, Mumbai’s residential market displayed evolving preferences across micro-markets. The Central Suburbs emerged as a favorite, increasing its market share from 29% in January 2024 to 33% in January 2025. Central Mumbai and South Mumbai also improved their shares, reaching 11%. On the other hand, the Western Suburbs, despite holding the largest transaction share, saw a decrease from 55% to 45%. This redistribution of demand reflects growing interest in areas benefiting from infrastructure upgrades and enhanced connectivity.
As Baijal noted, “As Mumbai’s economy expands and infrastructure developments progress, the city’s property market can continue to benefit from this strong growth potential.” This outlook suggests that the evolving preferences and market dynamics will play a crucial role in shaping the future of Mumbai’s real estate sector.
In conclusion, the February 2025 property registration numbers indicate a robust market, driven by a preference for premium properties and larger living spaces. As infrastructure projects continue and economic conditions remain favorable, Mumbai’s real estate market is poised for further growth. “The market is stabilizing, but the potential for future growth remains substantial,” Baijal added, emphasizing the promising landscape ahead.
