Mumbai Property Registrations Surpass 9,200 in January 2025: Expected to Cross 10,000 Mark

Mumbai's real estate market recorded over 9,200 property registrations in the first 27 days of January 2025, according to data from the Inspector General of Registration and Controller of Stamps of Maharashtra. By January 31, property registrations are expected to exceed the 10,000 mark.

As of 10 a.m. on January 27, the state government had generated ₹740 crore in revenue through stamp duty and registration fees from 9,212 registrations. In January 2024, 10,967 properties were registered, contributing ₹760 crore in revenue.

Residential Market Dominates

Property consultants report that around 80% of registrations are for residential properties, with the remaining 20% comprising commercial and retail spaces.

Historical Trends and Record-Breaking Year

In 2024, Mumbai witnessed its highest number of property registrations in 13 years, recording over 1.41 lakh transactions, compared to 1.26 lakh in 2023, 1.22 lakh in 2022, and 1.11 lakh in 2021. Registrations prior to 2020 consistently stayed below 1 lakh.

December 2024 Snapshot

December 2024 saw 12,418 property registrations, generating ₹1,134 crore for the state exchequer, compared to 12,285 registrations and ₹933 crore in revenue during December 2023.

Shift Toward Premium Real Estate

Properties priced at ₹2 crore and above accounted for 23% of December 2024 registrations, up from 18% in December 2023, with 2,879 transactions in this segment. Conversely, registrations for properties priced below ₹50 lakh dropped from 30% to 25%, reflecting a growing preference for premium real estate.

Preferences for Larger Homes

The demand for spacious homes is on the rise. Apartments between 1,000–2,000 sq ft accounted for 12% of registrations, up from 8%, while units over 2,000 sq ft remained steady at 2%. Smaller units up to 500 sq ft saw a sharp decline, falling from 51% to 35%, indicating a shift towards larger living spaces.

The data highlights evolving buyer preferences and the resilience of Mumbai's real estate market, particularly in the premium segment.