Mumbai, the country’s largest and costliest property market, delivered a record-breaking performance in 2025, posting its highest-ever figures for property registrations and stamp duty collections.
This exceptional outcome was driven by strong housing demand, large-scale infrastructure upgrades, stable economic conditions, and continued confidence among homebuyers.
Mumbai Property Market Hits Record Highs in 2025 on Strong Demand and Infrastructure Growth
Overall, 2025 marked Mumbai’s strongest property market performance in the past 14 years, ending with a particularly historic month in December.
The surge was mainly fueled by solid end-user demand and better affordability, allowing the city to surpass all previous benchmarks for registrations and government revenue.
Total property registrations in 2025 reached 150,254 units, representing a 6 percent increase over 2024, when 141,202 units were registered.
This registration volume was the highest recorded since 2011, underscoring the scale of the market’s rebound.
Stamp duty collections for the year amounted to ₹13,487 crore, reflecting an 11–12 percent year-on-year increase.
The rise in revenue was attributed largely to higher average transaction values per property.
Mumbai Housing Affordability Improves as Ratio Drops to 47%
Housing affordability improved significantly, with Mumbai’s affordability ratio declining to 47 percent.
This marked a major shift from earlier decades, when affordability had reached near-unsustainable levels, such as 97 percent in 2010.
The improved ratio indicates that average home loan EMIs now take up less than half of household income, making ownership more accessible.
December 2025 emerged as the best December ever recorded for Mumbai’s property market.
It was also the second-strongest month of the entire year, trailing only March 2025.
During December, around 14,447 properties were registered.
This represented a 16 percent increase compared to December 2024.
Registrations also rose 18 percent sequentially from November 2025.
Stamp duty revenue for December stood between ₹1,263 crore and ₹1,264 crore.
This reflected an 11 percent year-on-year increase and a sharp 22 percent rise compared to the previous month.
Residential properties continued to dominate the market, accounting for 80 percent of all registrations in December.
Buyer preference shifted toward higher-value homes, indicating growing confidence and purchasing power.
Properties priced between ₹1 crore and ₹2 crore increased their market share to 32 percent, up from 30 percent earlier.
Luxury homes priced above ₹5 crore also gained traction, expanding their share to 7 percent of registrations.
Smaller and mid-sized homes remained the most popular choice overall.
Units measuring up to 1,000 square feet accounted for 82 percent of total transactions.
Within this category, homes sized between 500 and 1,000 square feet were the most preferred, making up 46 percent of deals.
Suburban areas continued to drive the bulk of market activity across the city.
The Western Suburbs contributed 57 percent of total registrations.
The Central Suburbs added another 29 percent.
Together, these two suburban zones accounted for 86 percent of all property registrations, making them the primary growth engines of Mumbai’s housing market.
