Mumbai’s real estate market has once again defied seasonal expectations, with property registrations in September 2025 hitting record highs. Traditionally considered a slow month due to the Shradh period, this year saw robust homebuying activity, largely driven by a shifting festive calendar and sustained demand in the housing sector.
Also Read: Registration Bill 2025: New Rules and Benefits for Homebuyers
Record-Breaking September Performance
According to data from Knight Frank India, property registrations in the Mumbai municipal region rose 32% year-on-year, touching 12,070 units in September 2025 compared to 9,111 units a year earlier. Stamp duty collections mirrored this momentum, surging 47% YoY to ₹1,292 crore, marking the second-highest monthly revenue this year.
Why Did Registrations Rise Despite Shradh?
The surge in activity is linked to the unusual festive calendar this year.
- In 2024, the Shradh fortnight (Sept 17–Oct 2) had muted demand.
- In 2025, Shradh ended earlier (Sept 7–21), immediately followed by Navratri starting on Sept 22, which sparked a strong wave of homebuying enthusiasm.
This shift ensured that September wasn’t weighed down by inauspicious dates, enabling buyers to close deals earlier.
Also Read: Best Ways to Save Stamp Duty on Property Purchase
Month-on-Month Growth Trends
- Registrations rose 7% MoM in September.
- Stamp duty collections jumped 29% MoM, reflecting not just volume growth but also demand in higher-value properties.
- Residential units dominated the market, accounting for 80% of total registrations.
Strong Nine-Month Run for 2025
From January to September 2025, Mumbai recorded 111,939 property registrations, contributing over ₹11,141 crore to the state exchequer.
- Registrations grew 6% YoY in this period.
- Revenue surged 26% YoY, underlining steady buyer confidence.
Expert Insights
“Mumbai’s housing market continues to show remarkable resilience,” said Shishir Baijal, CMD, Knight Frank India.
- The 32% YoY jump in September was directly influenced by the festive shift.
- Revenue collections crossing ₹1,292 crore signal healthy momentum.
- The market is functioning at sustainable volumes, reflecting both maturity and consistent demand.
Also Read: What Is GST on Under‑Construction Property in 2025?
Luxury Segment on the Rise
The appetite for premium housing has grown significantly.
- Homes priced above ₹5 crore formed 7% of total registrations, up from 5% last year.
- Properties in the ₹1–2 crore range saw their share increase from 32% (2024) to 33% (2025).
- However, demand in the sub-₹1 crore segment slipped, highlighting affordability concerns.
What Sizes Are Buyers Choosing?
Property size preferences show a clear tilt toward compact homes with efficient layouts:
- Units up to 1,000 sq ft contributed 81% of registrations.
- The 500–1,000 sq ft category remained the most sought-after, balancing affordability with utility.
- Larger homes retained niche appeal, with 1,000–2,000 sq ft units at 14% and 2,000+ sq ft homes rising to 5%.
Also Read: Can I Buy Property without Registered on RERA?
Suburbs Lead the Market Share
Mumbai’s suburbs continue to dominate the property landscape.
- Western Suburbs: 59% of registrations.
- Central Suburbs: 29%.
- Together, they accounted for a whopping 88% market share.
- In comparison, South Mumbai held 8%, while Central Mumbai slipped to 5%.
The Bottom Line
Mumbai’s property market has managed to not only withstand the traditionally quiet Shradh period but also deliver its best-ever September performance. With robust demand, strong festive triggers, and a rising tilt toward luxury homes, the city’s real estate continues to showcase resilience and long-term confidence.
Mumbai’s real estate market has once again defied seasonal expectations, with property registrations in September 2025 hitting record highs. Traditionally considered a slow month due to the Shradh period, this year saw robust homebuying activity, largely driven by a shifting festive calendar and sustained demand in the housing sector.
Also Read: Registration Bill 2025: New Rules and Benefits for Homebuyers
Record-Breaking September Performance
According to data from Knight Frank India, property registrations in the Mumbai municipal region rose 32% year-on-year, touching 12,070 units in September 2025 compared to 9,111 units a year earlier. Stamp duty collections mirrored this momentum, surging 47% YoY to ₹1,292 crore, marking the second-highest monthly revenue this year.
Why Did Registrations Rise Despite Shradh?
The surge in activity is linked to the unusual festive calendar this year.
- In 2024, the Shradh fortnight (Sept 17–Oct 2) had muted demand.
- In 2025, Shradh ended earlier (Sept 7–21), immediately followed by Navratri starting on Sept 22, which sparked a strong wave of homebuying enthusiasm.
This shift ensured that September wasn’t weighed down by inauspicious dates, enabling buyers to close deals earlier.
Also Read: Best Ways to Save Stamp Duty on Property Purchase
Month-on-Month Growth Trends
- Registrations rose 7% MoM in September.
- Stamp duty collections jumped 29% MoM, reflecting not just volume growth but also demand in higher-value properties.
- Residential units dominated the market, accounting for 80% of total registrations.
Strong Nine-Month Run for 2025
From January to September 2025, Mumbai recorded 111,939 property registrations, contributing over ₹11,141 crore to the state exchequer.
- Registrations grew 6% YoY in this period.
- Revenue surged 26% YoY, underlining steady buyer confidence.
Expert Insights
“Mumbai’s housing market continues to show remarkable resilience,” said Shishir Baijal, CMD, Knight Frank India.
- The 32% YoY jump in September was directly influenced by the festive shift.
- Revenue collections crossing ₹1,292 crore signal healthy momentum.
- The market is functioning at sustainable volumes, reflecting both maturity and consistent demand.
Also Read: What Is GST on Under‑Construction Property in 2025?
Luxury Segment on the Rise
The appetite for premium housing has grown significantly.
- Homes priced above ₹5 crore formed 7% of total registrations, up from 5% last year.
- Properties in the ₹1–2 crore range saw their share increase from 32% (2024) to 33% (2025).
- However, demand in the sub-₹1 crore segment slipped, highlighting affordability concerns.
What Sizes Are Buyers Choosing?
Property size preferences show a clear tilt toward compact homes with efficient layouts:
- Units up to 1,000 sq ft contributed 81% of registrations.
- The 500–1,000 sq ft category remained the most sought-after, balancing affordability with utility.
- Larger homes retained niche appeal, with 1,000–2,000 sq ft units at 14% and 2,000+ sq ft homes rising to 5%.
Also Read: Can I Buy Property without Registered on RERA?
Suburbs Lead the Market Share
Mumbai’s suburbs continue to dominate the property landscape.
- Western Suburbs: 59% of registrations.
- Central Suburbs: 29%.
- Together, they accounted for a whopping 88% market share.
- In comparison, South Mumbai held 8%, while Central Mumbai slipped to 5%.
The Bottom Line
Mumbai’s property market has managed to not only withstand the traditionally quiet Shradh period but also deliver its best-ever September performance. With robust demand, strong festive triggers, and a rising tilt toward luxury homes, the city’s real estate continues to showcase resilience and long-term confidence.
