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In April 2025, Mumbai's real estate market recorded 12,142 property transactions-a 4% annual increase and the highest April figure in 13 years. Despite a 6% drop in stamp duty revenue, residential demand remained dominant, comprising 80% of transactions. Premium properties gained traction, with deals above INR 2 crore rising to 25% of total sales. While compact homes led in volume, demand for larger apartments also showed resilience. Central and South Mumbai witnessed a slight increase in market share, reflecting renewed interest. This robust performance signals enduring end-user confidence, supported by stable interest rates and expanding infrastructure across the city.
Mumbai's real estate sector demonstrated remarkable stability in April 2025, with the city-under BMC jurisdiction-recording over 12,142 property registrations. This performance generated more than INR 990 crore in revenue for the state exchequer. Although stamp duty collections declined by 6% YoY, property registrations rose by 4% over the same period, fueled by steady residential demand that accounted for nearly 80% of all transactions, as per Knight Frank India. Advertisement
In the broader context of monthly activity, April followed a peak in March 2025, when sales registrations reached 15,501 units-marking a 28% rise month-on-month (MoM) and 9.6% YoY. That surge also brought in INR 1,589 crore in revenue, a 70% MoM and 42% YoY jump. Although momentum eased in April, with registrations falling 22% month-on-month and revenue dropping 38%, both indicators continued to reflect year-on-year growth. The year-long trend highlighted sharp fluctuations, with October 2024 emerging as a high point-registrations rose 42% MoM and 22% YoY, while revenues climbed 44% YoY.
In contrast, September 2024 marked the lowest activity, with both registrations and revenue falling over 20% MoM and YoY. April 2025 achieved a 13-year high in monthly registrations, surpassing 2024's 11,648 units and 2023's 10,514. Even when revenue declined slightly YoY, it remained substantially higher than in pre-pandemic years, showcasing the resilience of the market. April 2021 generated INR 514 crore in revenue, whereas April 2014 marked the decade's lowest performance in both registrations and collections. Notably, the share of homes priced above INR 2 crore rose from 22% in April 2024 to 25% in April 2025.
The INR 2-5 crore category grew 19% YoY, while transactions over INR 5 crore saw an 18% increase, highlighting stronger demand in premium housing. Meanwhile, the INR 50 lakh to INR 1 crore segment maintained its position, while homes priced under INR 50 lakh experienced an 8% YoY increase in transactions. In terms of apartment size, compact homes continued to dominate, with units under 500 square feet accounting for 38% of sales, while mid-sized homes between 500 and 1,000 square feet made up 45%. Larger homes above 2,000 square feet held their ground with a consistent 3% share, reflecting steady interest in spacious living.
Geographically, Western and Central Suburbs maintained dominance with 85% of registrations. However, Central and South Mumbai witnessed a modest increase in market share, indicating a renewed interest among buyers in high-value city precincts. Western Suburbs remained in the lead despite a marginal drop from 57% to 56%. The overall market sentiment was reinforced by interest rate cuts and continued infrastructure improvements. With increased affordability, buyer confidence remains strong. Experts anticipate this positive trajectory will continue as policy support and aspirational living drive Mumbai's real estate market forward.
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