The surge was largely driven by the festive calendar shift. Last year, the Shraddh period (seen as inauspicious for property purchases) extended into October, but this year it ended earlier, with Navratri starting in late September — boosting buying sentiment.

On a month-on-month (MoM) basis, registrations rose 7%, while stamp duty revenues increased 29%, reflecting both volume and higher-value transactions.

YTD Performance (Jan–Sep 2025)

• Registrations: 111,939 units (↑ 6% YoY)
• Revenue: ₹11,141 crore (↑ 26% YoY)

This marks the best January–September performance since 2013, highlighting sustained buyer confidence and robust end-user demand.

Key Market Trends in September 2025

• Residential leads: 80% of registrations were for residential properties.
• Luxury homes gain share: Properties above ₹5 crore rose to 7% of total registrations, up from 5% last year.
• Shift in affordability: Homes below ₹1 crore fell to 42% share (vs. 45% last year), while the ₹1–2 crore bracket increased to 33%.
• Size preference: Units up to 1,000 sq. ft. dominated with 81% share; the 500–1,000 sq. ft. range remained the sweet spot for end-users.
• Suburban dominance: Western Suburbs led with 59% share, followed by Central Suburbs at 29%. South Mumbai edged up to 8%, while Central Mumbai slipped to 5%.

Expert View

Shishir Baijal, Chairman & MD, Knight Frank India said:
“Mumbai’s housing market has maintained a steady growth trajectory in 2025. The 32% YoY rise in September registrations was influenced by the shift in the festive calendar. Revenue collections crossed ₹1,292 crore, the second highest this year, reflecting robust growth of 47% YoY and 29% sequentially. Activity levels remain healthy at sustainable volumes, signalling both maturity and enduring confidence in the city’s real estate market.”

What This Means for Homebuyers

• Festive boost: Navratri and upcoming Diwali could further accelerate demand.
• Luxury momentum: The ₹5 crore+ segment is growing, but mid-segment buyers continue to drive bulk of sales.
• Good time to buy: Stable home loan EMIs, festive offers, and GST relief on construction materials are aligning with strong market sentiment.

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