Mumbai real estate defies global headwinds as property registrations soar in 2025 | Mumbai News
KOLKATA: Despite global economic challenges and geopolitical issues, Mumbai’s property registrations reached unprecedented levels in the first four months of 2025. The Maharashtra State Revenue Department has reported record-breaking figures for both revenue collection and total registrations in Mumbai from January to April 2025.
Data from the Inspector General of Registration (IGR), Maharashtra, shows that property registration revenue in Mumbai reached approximately Rs 4,633 crore in the first four months of 2025, marking a 21% increase from the previous year’s Rs 3,836 crore during the same period (January–April 2024).
The city recorded 52,896 property registrations in the first four months of 2025, compared to 48,819 during the corresponding period last year—an 8% increase.
April 2025 achieved the highest property registrations for that month in seven years, since 2019, with 13,080 properties registered. Revenue collection reached approximately Rs 1,115 crore. This surpassed April 2024’s 11,648 registrations by 12%, with revenue collection also higher by 5%.
Despite sluggish housing sales across the Mumbai Metropolitan Region (MMR) in Q1 2025—with approximately 21,930 units sold, 28% lower than Q1 2024—registration numbers remained strong.
Anarock Group chairman Anuj Puri said, “A key factor behind the surge in property registrations in this period is the record-breaking activity in March, when 15,501 properties were registered. This spike came close on the heels of the announcement of a 3.9% hike in Maharashtra’s ready reckoner rates for FY26. March 2025 marked the highest property registrations in the past three years. Prior to this, the highest figures were recorded in December 2020 with 19,581 registrations, and March 2021 with 17,728 registrations.”
March 2021, during the COVID-19 period, saw stamp duty rates reduced from 5% to 2–3% by the Maharashtra government. While March typically shows strong registration numbers due to the financial year-end, March 2025 was notable, with property registration revenue exceeding Rs 1,589 crore.
“Further analysis of the property registrations data and demand trends from January to April shows that the average ticket price of sold homes was ₹1.6 crore, reminiscent of 2023 and 2024, when it was Rs 1.6 crore,” said Puri.
“In the corresponding period in 2021, the average ticket price was significantly lower at Rs 1 crore. Thus, it witnessed a 54% jump between Jan–April 2021 and Jan–April 2025. In short, 2025 continues to record higher sales of pricey homes than in the more affordable categories.”
