Synopsis
Mumbai's real estate market showed a strong performance in FY2024-25, with a notable increase in property registrations and stamp duty collections, highlighting the demand for premium homes and high-value transactions.Key Takeaways
- 9% annual growth in property registrations in FY25
- 143,948 total registrations recorded for the year
- Stamp duty revenue reached Rs 1,597 crore in March
- 22% annual increase in stamp duty collections
- Sustained demand for premium homes and high-value transactions
Mumbai, March 31 (NationPress) The real estate sector of Mumbai concluded FY2024–25 on a strong note, achieving over 15,603 property registrations in March, reflecting a 10.3% year-on-year (YoY) increase, as reported on Monday.
Throughout FY 2024–25, Mumbai observed a total of 143,948 property registrations, which translates to a 9% annual growth in comparison to the 132,723 registrations recorded in the prior fiscal year (FY24).
Data sourced from the Inspector General of Registration (IGR) and analyzed by Knight Frank India indicates that stamp duty revenue for March reached Rs 1,597 crore, marking the highest amount ever documented in a single month, showcasing an impressive 45% annual increase.
For the entire year, stamp duty collections experienced a 22% hike, reinforcing the trend toward higher-value transactions, as detailed in the report.
This record-setting revenue was mainly fueled by a significant uptick in high-value property transactions and a steady demand for premium homes.
“The real estate market in Mumbai has once again shown its strength, concluding the financial year (April 2024 – March 2025) with remarkable stamp duty revenues and ongoing growth in premium transactions,” stated Shishir Baijal, Chairman and Managing Director of Knight Frank India.
As FY 2024-25 came to a close, property registrations demonstrated a 9% year-on-year (YoY) rise, while stamp duty revenues surged by 22% YoY, Baijal reported.
This unprecedented revenue growth was largely driven by a marked increase in high-value property transactions alongside continued interest in premium homes.
Month-on-month (MoM), March witnessed a 29% increase in property registrations, with stamp duty collections soaring by 71%.
Prashant Sharma, President of NAREDCO Maharashtra, noted that the consistent growth in Mumbai’s property registrations, exceeding the 15,000 threshold in March 2025, serves as a compelling testament to the city’s lasting real estate allure.
“This performance, spurred by stable economic conditions, robust infrastructure advancements, and rising market confidence, confirms that Mumbai continues to spearhead India’s real estate evolution. We anticipate this momentum to further accelerate due to expected interest rate reductions and ongoing government initiatives for urban infrastructure,” he added.
