- 10.3 per cent increase in the past month
- Knight Frank report reveals
The real estate sector in Mumbai, the financial capital of India, is booming. Last month, property registrations surpassed the 15,000 mark. With an annual growth of 10.3%, a total of 15,603 registrations were recorded. This generated a revenue of Rs 1,597 crore in stamp duty, which is a 45% increase, according to a recent report by Knight Frank. The increase in stamp duty is attributed to a higher number of transactions involving high net-worth individuals. On a monthly basis, registrations in March rose by 29%, while stamp duty collections saw a significant increase of 71%.
March 2025 emerged as the most active month of the year. Among all the registrations in March, residential properties accounted for 80%, leading the way. The impact of high-ticket transactions was clearly visible in the daily stamp duty collections, which increased from Rs 35 crore on average in April 2024 to Rs 52 crore in March 2025. Additionally, daily property registrations rose from 388 units in April 2024 to 503 units in March 2025, as per the Knight Frank report.
In the 2024-25 financial year, property registrations saw a 9% annual increase, while stamp duty collections grew by 22%. A total of 143,948 property registrations were recorded in this period, compared to 132,723 during the same period last year. Knight Frank India Chairman and Managing Director, Shishir Baijal, mentioned that the Mumbai real estate market once again showcased its dominance, ending the financial year on a strong note with significant stamp duty collections and steady growth in high-value transactions.
Moreover, compared to the first quarter of 2024 (January-March), property registrations in the first quarter of 2025 grew by 22%, and the revenue from stamp duty collections saw a 27% increase during the same period. A significant shift in buyer preferences was also observed last month.
The share of property registrations priced at Rs 2 crore and above increased from 17% in March 2024 to 19% in March 2025. Meanwhile, registrations of properties priced below Rs 50 lakh decreased from 30% to 28%. Apartments up to 1,000 square feet continued to dominate the registrations. The share of units between 1,000 and 2,000 square feet increased from 8% to 13%. However, properties larger than 2,000 square feet remained steady at 1%. Conversely, registrations of smaller units (up to 500 square feet) declined from 48% to 38%.
