Mumbai May 2025 sees 80% residential property registrations dominated by small apartments

Mumbai's residential property market in May 2025 was largely dominated by small apartments, with units up to 1,000 sq ft accounting for 83% of all transactions, consistent with the previous year.

Despite a 4% year-on-year decline in overall property registrations, the city registered sales of 11,565 properties, contributing ₹1,062 crore to state revenue through stamp duty collections.

This rise in stamp duty revenue by 3% is attributed to increased transactions in the higher-value segment, specifically properties priced at ₹5 crore and above. However, properties in the ₹1-5 crore range experienced a slowdown in sales momentum, as noted by Shishir Baijal, chairman and managing director of Knight Frank India.

On a year-to-date basis, Mumbai recorded a significant 24% increase in registrations, totaling 64,461 properties, alongside a 17% rise in revenue, with stamp duty collections exceeding ₹5,696 crore.

These figures highlight a market trend where smaller apartments continue to dominate residential sales, while luxury and higher-value properties contribute disproportionately to revenue growth.

"In May 2025, Mumbai residential market saw a 4% YoY decline in property registrations, as properties priced between ₹1–5 crore recorded a slowdown in sales momentum," said Shishir Baijal.

The data underscores a nuanced market dynamic balancing volume in affordable segments with revenue gains from premium property transactions.

In May 2025, Mumbai saw 80% of residential property registrations dominated by small apartments up to 1,000 sq ft, despite a 4% year-on-year decline in overall property registrations. Stamp duty collections rose 3%, driven by transactions in the ₹5 crore and above segment, totaling ₹1,062 crore.