The city’s property market recorded a festive surge like never before. Over the 10 days of Navratri (September 22 – October 1, 2025), Mumbai (BMC region) registered 6,238 property sales, a sharp 20% jump over the same period last year, according to Knight Frank India.
This performance marks one of the strongest festive kicks-offs in recent years, signaling that homebuyer sentiment remains firmly upbeat despite broader affordability pressures.
6,000+ Homes Registered in Just 10 Days
The surge in registrations wasn’t a coincidence — the early onset of Navratri, right after the Shraddh period, played a key role. With auspicious days aligning earlier in the calendar, buyers advanced their home purchases to cash in on festive offers, stable interest rates, and developer schemes.
| Period | Registrations (Units) | YoY Change | Registrations Per Day | YoY Change |
|---|---|---|---|---|
| Navratri 2023 | 4,594 | – | 510 | – |
| Navratri 2024 | 5,199 | 13% | 578 | 13% |
| Navratri 2025* | 6,238 | 20% | 624 | 8% |
*Note: Navratri 2025 lasted 10 days instead of the usual nine due to a rare lunar alignment (Tritiya Tithi spanning two days).
Source: Maharashtra Govt – Dept. of Registrations & Stamps; Knight Frank India
Stamp Duty Revenues Jump 17%
More homes sold meant more stamp duty for the state. Over the 10 days of Navratri 2025, the government collected ₹587 crore in revenue — up 17% YoY from ₹502 crore in 2024.
| Period | Revenue (₹ Cr) | % Change | Revenue Per Day (₹ Cr) | % Change |
|---|---|---|---|---|
| Navratri 2023 | 436 | – | 48 | – |
| Navratri 2024 | 502 | 15% | 56 | 17% |
| Navratri 2025 | 587 | 17% | 59 | 5% |
Source: Maharashtra Govt – Dept. of Registrations & Stamps; Knight Frank India
The daily stamp duty collection rose from ₹56 crore in 2024 to ₹59 crore in 2025, reflecting strong transactional momentum.
Best September in a Decade
September 2025 as a whole turned out to be Mumbai’s best September in 10 years, with 12,070 property registrations, up 32% YoY.
This is primarily because Navratri was fully contained within September, unlike in 2024 when it began later in October. The shift helped developers front-load festive launches and push sales earlier.
Even Shraddh Period Saw Activity
Traditionally considered an inauspicious period, Shraddh still saw steady activity this year:
| Particulars | Shraddh 2023 | Shraddh 2024 | Shraddh 2025 |
|---|---|---|---|
| Registrations (Units) | 3,353 | 3,216 | 3,368 |
| Avg Registrations/Day | 279 | 292 | 306 |
| Revenue (₹ Cr) | 191 | 219 | 265 |
| Avg Revenue/Day (₹ Cr) | 16 | 20 | 24 |
The 21% rise in revenue during Shraddh 2025 shows that Mumbai’s property market remains resilient even during non-auspicious days — indicating end-user driven demand rather than purely sentiment-driven spikes.
What This Means for Homebuyers
- Festive Timing Matters: Buyers are clearly advancing decisions to capitalize on Navratri offers and auspicious dates.
- Premium Demand Is Rising: Knight Frank attributes part of the growth to stronger appetite for premium homes.
- Market Momentum Is Real: With stable interest rates and improving affordability, festive sales could set the tone for a strong Q4 2025.
“Mumbai’s housing market has once again proven its strength, with 6,238 properties registered during Navratri 2025 — a 20% year-on-year growth and the highest festive performance in recent years. This surge, supported by stable interest rates, improving affordability, and the recent GST simplifications, reflects the sustained confidence of homebuyers,” said Shishir Baijal, CMD, Knight Frank India.
Also Read: Mumbai home sales September 2024 decline
