Mumbai
Mumbai city recorded 13,029 property registrations in February 2026, generating over Rs 1,134 crore in stamp duty revenue for the state exchequer, marking the highest February performance in 14 years in both registrations and collections, according to a report released on Sunday by Knight Frank India.
The report highlighted that property registrations rose 8 per cent year-on-year (YoY), while stamp duty collections surged 21 per cent YoY. The sharper rise in revenue compared to registrations indicates a growing share of premium and large-ticket transactions in the city’s real estate market. Residential properties accounted for nearly 80 per cent of total registrations, reflecting sustained end-user demand.
According to the consultancy, the steady performance is backed by stable macroeconomic conditions, ongoing infrastructure expansion, and improved buyer sentiment. Mumbai’s residential market data shows not a short-term spike, but a structurally strong and resilient market, said Shishir Baijal, Chairman and Managing Director of Knight Frank India.
Baijal further noted that the Brihanmumbai Municipal Corporation’s (BMC) largest-ever budget and transformative infrastructure initiatives such as the Mumbai Coastal Road and key link corridors are expected to strengthen the positive trajectory of the housing sector. These projects are anticipated to enhance accessibility and widen residential catchments across the metropolitan region.
The report also pointed to a clear shift toward premium housing. The share of properties priced above Rs 5 crore increased to 8 per cent from 6 per cent a year earlier. Meanwhile, homes in the Rs 2–5 crore bracket expanded to 20 per cent from 17 per cent, and those in the Rs 1–2 crore range rose to 33 per cent from 31 per cent, indicating rising demand across mid-to-high value segments.
Apartments measuring up to 1,000 square feet accounted for 81 per cent of total registrations, underlining continued demand for compact homes. The Western Suburbs further consolidated their leadership as Mumbai’s most active housing corridor.
The report concluded that demand is increasingly gravitating toward well-connected suburban micro-markets offering accessibility, liveability, and price flexibility, positioning them as the primary growth engines of Mumbai’s evolving housing market.
