H1 2025: Record-Breaking Performance

From January to June 2025, Mumbai clocked 75,672 property registrations as of June 30 noon. This marks a 4% increase compared to 72,491 registrations in the corresponding period of 2024. Revenue collected by the state government from these registrations also reached a peak of INR 6,699 crore, a 14% year-on-year growth from INR 5,874 crore in the same period last year.

Mumbai Property Registrations & Revenue (H1 Comparison)

Source: IGR, ANAROCK Research

June 2025 Trends and Historical Context

June 2025 alone saw 11,211 properties registered by noon, generating INR 1,004 crore in revenue. While registrations for June dipped slightly (about 4% lower than June 2024’s 11,673 deals), revenue held firm, nearly matching last year’s figure with only a 1% decline.

Anuj Puri, Chairman – ANAROCK Group, commented, “June 2025 saw Mumbai notch up its second-highest property registrations for the month in six years, with 11,211 properties changing hands and revenue collections hitting an impressive INR 1,004 crore.” He added, “While registrations dipped slightly – about 4% lower than June 2024’s 11,673 deals – this year’s revenue held firm, matching almost last year’s figure. In fact, June 2025’s revenue was just 1% lower than last year, highlighting the market’s resilience despite a marginal drop in transactions. Mumbai’s real estate continues to deliver strong numbers, even as the pace has cooled a bit.”

June Revenue Trends (2019-2025)

Source: IGR, ANAROCK Research (Note: Only specific years provided in source data)

Sales Volume vs. Registrations: A Paradox Explained

Despite the strong registration numbers, overall housing sales across the Mumbai Metropolitan Region (MMR), including Mumbai City, remained muted in early 2025. ANAROCK Research indicates that Mumbai saw about 189,570 units sold in H1 2025, a 32% drop from the same period last year.

Puri attributes this apparent paradox to a record-breaking March. “Behind this seeming paradox lies a record-breaking March,” Puri stated. “After the announcement of a 3.9% hike in Maharashtra’s ready reckoner rates for FY26, buyers rushed to register properties, resulting in a whopping 15,501 registrations – the highest March tally in three years.” For comparison, only December 2020 (19,581) and March 2021 (17,728) recorded higher numbers, both influenced by COVID-era stamp duty reductions. March 2025 was exceptional, collecting over INR 1,589 crore in revenue from property registrations alone.

Average Ticket Price Indicates High-Value Sales

Further analysis of property registrations and demand trends from January to June 2025 reveals that the average ticket price of homes sold stood at INR 1.60 crore. This is over 3% higher than INR 1.56 crore recorded in H1 2024, and a significant 55% jump from INR 1.02 crore in the corresponding period of 2021. This trend indicates a continued preference for high-ticket priced homes over more affordable ones in the Mumbai market.

Also Read: Mumbai Real Estate Market Updates

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