Mumbai Property Registrations Hit Record High in November, Stamp Duty Up 12%

Mumbai’s real estate market continues to defy slowdown concerns, with fresh data confirming one of the strongest months ever for the city’s property ecosystem. In November 2025, Mumbai property registration numbers climbed to a new record high, reflecting deep buyer confidence, sustained demand across price segments, and a growing inclination toward premium homes. Alongside the surge in registrations, stamp duty revenue also witnessed a healthy 12% YoY jump, reinforcing the city’s strong transactional momentum.

November 2025 Sets a New Benchmark

According to Maharashtra IGR data, Mumbai recorded 12,219 property registrations in November, marking a 20% YoY increase. On a month-on-month basis, registrations rose by 5%, while stamp duty collections, standing at ₹1,038 crore, remained steady yet showcased a 12% YoY rise.

Residential transactions continued to dominate activity, contributing nearly 80% of all registrations. This clear preference for homeownership highlights the enduring strength of Mumbai’s housing demand, despite rising prices and tightening affordability in certain pockets.

Also Read: Luxury Home Prices Jump 40% Since 2022 in Top Cities; Affordable Homes Up 26%

Strong Cumulative Performance January–November 2025

The growth is not limited to November alone. From January to November 2025, Mumbai clocked more than 135,807 property registrations, contributing over ₹12,224 crore in stamp duty to the state exchequer. This period saw a 5% YoY growth in registration volumes and an 11% YoY increase in revenue, proving that Mumbai property registration numbers are operating on a structurally higher baseline compared to previous years.

Sustained buyer confidence, stable income patterns, and strong traction from end-users and aspirational buyers have kept the market active throughout the year.

Expert View: Market Moving Into a Higher Gear

Industry experts note that Mumbai’s property market is now functioning on a higher-than-usual demand base. Shishir Baijal of Knight Frank India highlighted that November 2025 marked the best November for the city in over a decade, with robust demand across mid-range and premium categories.

The rise in Mumbai property registration volume reflects not just transactional momentum but also a shift toward higher-value homes, particularly in well-connected and premium neighbourhoods. This structural change suggests long-term demand resilience, backed by consumer desire for better living spaces and strong developer activity.

Premium Segment Gains Momentum: Homes Above ₹5 Crore Touch 7% Share

One of the most notable trends has been the growing demand for luxury properties. Homes priced above ₹5 crore accounted for 7% of all registrations in November, up from 5% last year. This rise reflects increasing purchases from HNIs, senior executives, and NRIs seeking premium Mumbai addresses.

Meanwhile, the under-₹1 crore category saw a decline in share due to affordability challenges, while the ₹1–2 crore segment grew from 31% in 2024 to 33% in 2025. The ₹2–5 crore bracket remained steady, indicating strong mid-income stability.

End-Users Prefer Compact & Efficient Homes

Homes up to 1,000 sq ft continued to dominate, contributing 84% of total registrations. The 500–1,000 sq ft segment was the most popular, offering buyers the right mix of affordability and functional space.

Larger homes also saw an uptick:

• 1,000–2,000 sq ft units increased to 13%
• Homes above 2,000 sq ft accounted for 4%, showcasing niche yet stable luxury demand

This size distribution reveals that Mumbai property registration trends are driven primarily by end-users seeking practical, well-planned homes.

Also Read: Maharashtra Tribunal Rules Developers Cannot Refund GST, Stamp Duty, TDS to Buyers

Western and Central Suburbs Drive 85% of Total Registrations

Mumbai’s suburban micro-markets continue to be the backbone of the city’s real estate activity. In November 2025:

• Western Suburbs led the market with a 56% share
• Central Suburbs contributed 29%
• South Mumbai held 9%
• Central Mumbai dipped slightly to 6%

Connectivity upgrades, redevelopment activity, and competitive pricing have positioned the suburbs as the largest contributors to Mumbai property registration growth.

Conclusion

November 2025 stands out as a landmark month for Mumbai’s real estate market, with Mumbai property registration numbers hitting an all-time high and stamp duty collections showing robust growth. Backed by strong residential demand, rising premium home purchases, and suburban dominance, Mumbai continues to demonstrate extraordinary resilience.

With cumulative registrations already crossing 1.35 lakh units in the first 11 months, 2025 is shaping up to be one of the city’s strongest years ever. The momentum indicates that Mumbai's housing market is evolving toward sustained, long-term growth setting the tone for a strong start to 2026.