Mumbai Property Registrations records 9,200 in 27 Days - January 2025

In the first 27 days of January 2025, property registrations in Mumbai's real estate market surpassed 9,200, according to data from the Inspector General of Registration and Controller of Stamps of Maharashtra.

The total number of registrations is expected to exceed 10,000 by January 31. So far, the government has earned Rs. 740 crore in revenue from these 9,212 property registrations, which includes stamp duty and registration fees.

In January 2024, there were 10,967 property registrations in Mumbai, generating Rs. 760 crore in revenue. Property consultants report that about 80% of the total registrations are residential units, with the remainder consisting of commercial and retail properties.

According to Knight Frank India, 2024 saw the highest number of property registrations in Mumbai in the past 13 years, with over 1.41 lakh registrations. This is a significant increase from previous years: 1.26 lakh in 2023, 1.22 lakh in 2022, and 1.11 lakh in 2021. Before 2021, registrations in Mumbai were consistently below 1 lakh annually.

In December 2024, Mumbai is expected to record 12,418 property registrations and generate Rs. 1,134 crore in revenue for the state. This is a slight increase from December 2023, which saw 12,285 registrations and Rs. 933 crore in stamp duty collections.

Notably, properties priced at Rs. 2 crore or more made up 23% of the registrations in December 2024, up from 18% in December 2023, reflecting a growing demand for premium real estate.

Conversely, registrations for properties under Rs. 50 lakh have decreased, dropping from 30% to 25%, indicating a shift in buyer preferences toward higher-value properties.