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Mumbai city recorded 12,848 property registrations in February, generating more than Rs 1,118 crore in stamp duty revenue for the state exchequer. This marks the strongest February performance in 14 years for both registrations and revenue, according to data from the Maharashtra Department of Registrations and Stamps and Knight Frank India.

Registrations rose 6 per cent year-on-year (YoY) from 12,066 in February 2025, while stamp duty collections increased 20 per cent YoY from Rs 935 crore, reflecting a higher share of premium and large-ticket transactions. Residential properties accounted for nearly 80 per cent of total registrations.

The market showed a clear shift toward higher-value properties. The share of homes priced above Rs 5 crore rose to 8 per cent from 6 per cent a year ago, while the Rs 2–5 crore segment expanded to 20 per cent from 17 per cent, and the Rs 1–2 crore bracket increased to 33 per cent from 31 per cent. Properties below Rs 1 crore fell to 40 per cent from 46 per cent, highlighting rising demand for mid-to-premium housing.

Apartments up to 1,000 sq ft continued to dominate, making up 81 per cent of total registrations, with the 500–1,000 sq ft segment remaining the most preferred at 45 per cent. Meanwhile, larger units in the 1,000–2,000 sq ft and over 2,000 sq ft categories saw modest growth, suggesting growing interest in upgraded living spaces.

Suburban Mumbai leads property demand, western and central suburbs drive growth

Suburban areas continued to drive residential activity, with the western suburbs accounting for 57 per cent of registrations and the Central Suburbs 30 per cent.

Core city markets contributed a smaller share due to supply constraints and higher prices.

Shishir Baijal, chairman and managing director of Knight Frank India, said, “Mumbai’s residential market is showing not a short-term spike, but a structurally strong and resilient performance. Demand remains largely end-user driven, with suburban micro-markets benefiting from improved connectivity and infrastructure expansion. Projects such as the Coastal Road and key link corridors are expected to further reinforce this positive trend.”

The data underscores sustained market momentum, with buyers increasingly gravitating toward well-connected suburban localities that offer a balance of affordability, liveability, and long-term value.