MUMBAI: The Maximum City, which commands the highest real estate price tags in the country and among the dearest globally, has recorded its strongest housing sales in 14 years in 2025, with property registrations rising to 1,50,254, amid a sustained end-user demand and supportive supply-side ecosystem.
According to a Knight Frank report, housing registrations in the megapolis crossed the 1.5-lakh units mark—a first in 14 years. This has seen the government collecting a whopping Rs 13,487 crore in stamp duty, which is also a 14-year high, highlighting strong transaction volumes and improving property values.
Registrations increased by 6% on-year, while stamp duty revenue rose by 11% on-year, the report said, adding the numbers include both new sales and re-sales across residential and commercial properties.
In December 2025, registrations continued to skew toward higher price brackets. Homes priced above Rs 5 crore accounted for 7% of registrations, up from 6% a year earlier, while properties priced between Rs 2 crore and Rs 5 crore remained stable at 19%, and those in the Rs 1-2 crore segment rose from 30% in 2024 to 32% in 2025 and those priced below the Rs 1 crore segment saw its share decline from 44% to 42%, as affordability challenges weighed on buyer sentiment.
Units up to 1,000 sqft accounted for 82% of registrations and homes sized between 500 and 1,000 sqft were the most preferred at 46%. Units between 1,000 and 2,000 sqft edged up to 15%, while apartments above 2,000 sqft held steady at 3%.
The Western and Central suburbs dominated activity, accounting for 86% of December registrations, up from 84% a year earlier. Western suburbs led with a 57% share, followed by Central suburbs at 29%. In contrast, South Mumbai’s share went down from 8% to 7%.
Market momentum remained strong through the year with December alone seeing as many as 14,447 units being registered, contributing Rs 1,263 crore in stamp duty revenue. Of this, residential properties accounted for 80% of registrations in the month, translating into a 16% on-year rise in registrations and an 11% increase in stamp duty collections.
The report further said sequentially, December registrations grew 18%, while stamp duty revenue rose 22%. The month also emerged as the second-strongest of the year after March when registrations crossed 15,000 units.
Shishir Baijal, chairperson and managing director of Knight Frank India, said sustained end-user demand and a more supportive supply-side ecosystem were key drivers, while higher stamp duty collections pointed to a gradual improvement in per-unit transaction values.
He further said 2025 marked a steady and mature phase for the city’s housing market, reflecting its resilience and depth.