Mumbai, March 02, 2026: Mumbai city (area under BMC jurisdiction) recorded 13,029 property registrations in February 2026, generating over INR 1,134 crore in stamp duty revenue for the state exchequer. This marks the highest February performance in 14 years both in registrations as well as revenue collections. Registrations rose 8% year over year (YoY), while stamp duty collections rose 21% YoY, indicating a higher share of premium and large-ticket transactions.
The sustained momentum highlights continued end-user demand, supported by stable macroeconomic conditions, infrastructure expansion and improved buyer sentiment. Residential properties accounted for nearly 80% of total registrations.
Mumbai property sale registration and government revenue collection
| Period | Registration (Units) |
YoY | MoM | Revenue (INR cr) |
YoY | MoM |
| Jan -25 | 12,249 | 12% | -1% | 994 | 31% | -12% |
| Feb-25 | 12,066 | 0.1% | -1% | 935 | 6% | -6% |
| Mar-25 | 15,501 | 10% | 28% | 1,589 | 42% | 70% |
| Apr-25 | 13,080 | 12% | -16% | 1,115 | 5% | -30% |
| May-25 | 11,565 | -4% | -12% | 1,062 | 3% | -5% |
| Jun-25 | 11,599 | -1% | 0% | 1,035 | 2% | -3% |
| Jul-25 | 12,579 | 1.7% | 8% | 1,123 | 6% | 8% |
| Aug-25 | 11,230 | -3% | -11% | 1,000 | -6% | -11% |
| Sep-25 | 12,070 | 32% | 7% | 1,292 | 47% | 29% |
| Oct-25 | 11,649 | -10% | -3% | 1,040 | -14% | -20% |
| Nov-25 | 12,219 | 20% | 5% | 1,038 | 12% | 0% |
| Dec-25 | 14,424 | 16% | 18% | 1,245 | 10% | 20% |
| Jan-26 | 11,219 | -8% | -22% | 1,012 | 2% | -19% |
| Feb-26 | 13,029 | 8% | 16% | 1,134 | 21% | 12% |
Source: Maharashtra Govt- Dept. of Registrations and Stamps (IGR); Knight Frank India
Shishir Baijal, Chairman & Managing Director, Knight Frank India, stated, Mumbai’s residential market has continued its exceptional run in February 2026, recording the highest registrations and stamp duty collections for the month in 14 years. With 13,029 property registrations and INR 1,134 crore in stamp duty collections, the data underscores not a short-term spike, but a structurally strong and resilient market. This sustained momentum is a testament to the inherent strength and depth of Mumbai’s residential sector. Demand remains largely end-user driven, with the mid-to-premium segments gaining traction, while suburban markets continue to dominate on the back of improving connectivity and expanding infrastructure. The BMC’s largest-ever budget, with its continued emphasis on transformative infrastructure projects such as the Coastal Road and key link corridors, is expected to further reinforce this positive trajectory by enhancing accessibility and widening residential catchments. Overall, Mumbai’s residential market is not merely witnessing a cyclical upswing, it is demonstrating structural stability, infrastructure-led growth, and long-term confidence, reaffirming its position as one of the country’s most robust real estate markets.”
Mumbai records 14-year best property registrations and stamp duty collection
| Month-wise | Registration (Units) | Revenue (INR Cr) |
| Feb-13 | 4,840 | 241 |
| Feb-14 | 4,843 | 244 |
| Feb-15 | 4,986 | 279 |
| Feb-16 | 5,208 | 306 |
| Feb-17 | 3,664 | 253 |
| Feb-18 | 6,632 | 462 |
| Feb-19 | 5,320 | 358 |
| Feb-20 | 5,927 | 438 |
| Feb-21 | 10,172 | 352 |
| Feb-22 | 10,379 | 615 |
| Feb-23 | 9,684 | 1,112 |
| Feb-24 | 12,056 | 885 |
| Feb-25 | 12,066 | 935 |
| Feb-26 | 13,029 | 1,134 |
Source: Maharashtra Govt- Dept. of Registrations and Stamps (IGR); Knight Frank India
In February 2026, Mumbai recorded over 13,029 property registrations, up from 12,066 in the same month last year. Stamp duty collections rose to INR 1,134 cr from INR 935 cr a year ago. This marks the strongest February on record for both registrations and revenue, signalling sustained market momentum.
Ticket size category wise transactions
| Category | Feb – 25 | Feb-26 | ||||
| Less than 1 crore | 46% | 40% | ||||
| 1 to 2 crores | 31% | 33% | ||||
| 2 to 5 crores | 17% | 20% | ||||
| 5 crore and above | 6% | 8% | ||||
The market witnessed a clear shift toward premium housing in February 2026. The share of properties priced above INR 5 cr rose to 8% from 6% a year earlier. The INR 2–5 crore segment expanded to 20% from 17%, while the INR 1–2 crore category increased to 33% from 31%.
In contrast, the sub-INR 1 crore segment declined to 40% from 46%, reinforcing the trend toward higher-value transactions and supporting the sharp rise in stamp duty collections.
Properties up to 1,000 sq ft continue to lead in registrations
Apartments up to 1,000 sq ft accounted for 81% of total registrations in February 2026, highlighting Mumbai’s continued preference for compact homes. Within this, the 500–1,000 sq ft segment remained the most preferred at 45%, balancing affordability with usable space for end-users.
While smaller units continue to drive volumes, the growing appetite for larger configurations suggests that a segment of buyers is prioritising upgraded living standards and long-term ownership over entry-level affordability. This shift highlights a more balanced demand pattern across Mumbai’s residential market.
Area wise breakup of apartment sales
| Area (sq ft) | Feb – 25 | Feb-26 |
| Up to 500 | 40% | 36% |
| 500 – 1,000 | 45% | 45% |
| 1,000 – 2,000 | 12% | 15% |
| over 2,000 | 3% | 4% |
Source: Maharashtra Govt- Dept. of Registrations and Stamps (IGR); Knight Frank Research
Western Suburb and Central Suburb account for 87% of the total market share
Residential activity remains firmly anchored in the suburban belt, where scale, connectivity and product depth continue to attract the widest buyer base. The Western Suburbs have further consolidated their leadership, reinforcing their position as the city’s most active housing corridor. The Central Suburbs remain a significant contributor, even as relative share dynamics shift within the broader suburban landscape.
In contrast, core city markets maintain a steady but smaller presence, reflecting supply constraints and higher entry thresholds. The overall distribution underscores a clear trend: demand is gravitating toward well-connected suburban micro-markets that offer a balance of accessibility, liveability and price flexibility, positioning them as the primary growth engines of Mumbai’s housing market.
Micro-Market wise breakup of apartment sales
| Micro-market | Feb – 25 | Feb-26 |
| Western Suburbs | 49% | 57% |
| Central Suburbs | 34% | 30% |
| South Mumbai | 8% | 8% |
| Central Mumbai | 9% | 6% |
Source: Maharashtra Govt- Dept. of Registrations and Stamps (IGR); Knight Frank Research
