Mumbai's property market registered 150,231 transactions in calendar year 2025, reflecting a 6 percent increase over the 141,202 registrations recorded in 2024, as per data from the office of the Inspector General of Registration and Controller of Stamps, Maharashtra.

Revenue earned from stamp duty collections also moved higher during the year, rising to ₹13,469 crore in 2025, compared to ₹12,141 crore in 2024, marking an 11 percent annual growth.

On a monthly basis, December 2025 reported 14,447 property registrations, higher than 12,219 registrations in November 2025, representing an 18 percent month-on-month increase.

Stamp duty revenues during the month climbed to ₹1,264 crore, up from ₹1,038 crore in November 2025.

For comparison, December 2024 recorded 12,418 registrations, generating ₹1,134 crore in revenue.

Residential properties continued to dominate the market, forming around 80 percent of total registrations, while non-residential assets made up the remaining 20 percent.

The city also delivered its strongest housing performance in 14 years in 2025, supported by both higher transaction volumes and improving value realisation levels, according to the annual market assessment.

The report observed that 2025 reflected a stable and mature growth phase for the city's housing segment, with registrations crossing 1.50 lakh units, the highest level in more than a decade. The trend was attributed to resilient end-user demand, better supply alignment, and improving affordability levels. Rising stamp duty collections were seen as an indicator of gradual improvement in average ticket sizes.

Affordability metrics have strengthened significantly, with Mumbai's affordability level now estimated at 47 percent, compared to past periods when EMIs consumed nearly 97 percent of household income. The analysis highlighted that when pricing and product offerings are aligned with buyer expectations, purchase confidence remains strong.

Market momentum during the year continued to shift toward higher-priced homes.

Properties priced above ₹5 crore accounted for 7 percent of registrations in December 2025, compared to 6 percent in the same month last year, signalling rising activity in the premium and luxury segment.

At the same time, the share of homes priced below ₹1 crore declined, reflecting affordability pressures in that category.

The ₹2-₹5 crore range remained largely steady, while homes priced ₹1-₹2 crore increased their share from 30 percent in 2024 to 32 percent in 2025.

Units measuring up to 1,000 sq ft accounted for 82 percent of registrations in December 2025, broadly similar to the previous year.

The 500-1,000 sq ft size segment remained the most popular, offering a balance between pricing and usable space.

Larger formats continued to serve a niche buyer base:

• 1,000-2,000 sq ft units edged up to 15 percent, and
• Homes above 2,000 sq ft held a 3 percent share.

Suburban locations remained the primary demand centres for homebuyers.

Together, the Western and Central Suburbs accounted for 86 percent of total registrations in December 2025.

Break-up of market share:

• Western Suburbs - 57 percent
• Central Suburbs - 29 percent
• South Mumbai - 7 percent
• Central Mumbai - 7 percent

The report noted that suburban corridors continue to attract most purchase activity due to connectivity, infrastructure access and wider housing choice.

Mumbai's property market closed 2025 on a strong and resilient footing, driven by steady end-user demand, improving affordability levels, and rising transaction values. With property registrations crossing the 1.50 lakh mark and stamp duty revenues posting double-digit growth, the city's housing market continues to demonstrate structural depth and financial stability. The growing share of higher-value homes, alongside sustained demand in compact and mid-segment categories, highlights the diverse nature of buyer profiles and evolving lifestyle needs. As infrastructure expansion, new-age supply, and stable financing conditions continue to support sentiment, Mumbai's real estate market remains well-positioned to sustain momentum going forward