The Mumbai real estate market has experienced a mixed bag of results in May 2025. While property registrations saw a 4% year-on-year dip, the revenue generated from stamp duty collections recorded a positive growth. The data from the Maharashtra Inspector General of Registration (IGR) sheds light on the city’s evolving property landscape. Despite a slowdown in mid-priced property sales, Mumbai’s real estate market has shown resilience, with high-end property sales picking up the slack. Let’s take a closer look at the trends and insights emerging from May 2025’s property registration data.
Property Registrations: A Year-on-Year Decline
In May 2025, Mumbai witnessed a decline of 4% in property registrations compared to the previous year. The total registrations for the month stood at 11,565, down from 12,000 in May 2024. This decline was largely attributed to a slowdown in the mid-range property market, specifically those priced between ₹1 crore and ₹5 crore. However, this drop in overall registrations did not impact the city’s revenue collection significantly.
Despite this dip in property registrations, Mumbai’s real estate market saw growth in stamp duty collections, with a 3% increase. This can be credited to the high sales momentum for properties priced above ₹5 crore. The premium segment witnessed a steady rise in buyer activity, reflecting a preference for larger, high-value properties.
Residential Properties Dominate Mumbai’s Real Estate Market
Residential properties continued to dominate Mumbai’s real estate market, accounting for 80% of all registrations in May 2025. The overall trend points to a growing preference for compact living spaces, with properties up to 1,000 sq ft still leading the market. These smaller homes accounted for 83% of all residential transactions in May 2025, unchanged from the previous year.
Among the smaller homes, the 500–1,000 sq ft range remained the most popular, making up 44% of all transactions. This was followed by properties in the 1,000–2,000 sq ft category, which saw a slight increase in share from 13% to 14%. Interestingly, even though large homes remain a niche, there was a noticeable uptick in interest for properties over 2,000 sq ft, with their share increasing from 2% to 3%.
Trends in Property Price Segments
While the overall property registrations declined, a closer look at the price segments reveals a clear shift toward high-end properties. Properties priced above ₹5 crore recorded a significant increase in registrations, rising from 5% in May 2024 to 7% in May 2025. This growth has contributed to the rise in stamp duty collections.
However, mid-range properties priced between ₹1 crore and ₹5 crore saw a decline in activity. The dip in registrations in this segment is attributed to a slowdown in sales momentum, reflecting broader market conditions that have slowed down sales in this price band.
Location Preferences: Western and Central Suburbs in Focus
The western and central suburbs of Mumbai continue to dominate the property market, making up 87% of the total market share. These areas have long been favored for their accessibility, infrastructure, and residential appeal. However, South Mumbai has shown a small increase in property registrations, gaining 1% in share.
This shift in the distribution of property registrations highlights the ongoing demand in the western and central suburbs, which offer a mix of premium and mid-range properties. South Mumbai’s uptick could point to a resurgence in interest in more premium, centrally located properties, as buyers seek proximity to business hubs and cultural centers.
Summary Table: Key Highlights from Mumbai’s May 2025 Real Estate Data
| Metric | May 2025 | May 2024 | Year-on-Year Change |
|---|---|---|---|
| Total Property Registrations | 11,565 | 12,000 | -4% |
| Stamp Duty Collections | ₹5,696 crore | ₹5,519 crore | +3% |
| Residential Property Share | 80% | 80% | Unchanged |
| Properties up to 1,000 sq ft | 83% | 83% | Unchanged |
| Properties Above ₹5 Crore | 7% | 5% | +2% |
| Western & Central Suburb Share | 87% | 86% | +1% |
Quotes from Industry Experts
Knight Frank India, a leading real estate consultancy, commented on the current state of the market, “The 4% decline in May 2025 property registrations can be attributed to a slowdown in mid-priced properties, particularly those between ₹1 crore and ₹5 crore. However, the real estate market remains resilient, especially in the high-end sector, which has seen continued demand. This shift in buyer behavior is evident from the rise in the share of properties priced above ₹5 crore.”
The firm also noted, “While compact homes continue to lead in volume, there is a gradual shift towards larger homes, indicating evolving buyer preferences for more spacious living.”
FAQs About Mumbai Real Estate – May 2025 Trends
- Why did Mumbai’s property registrations decline in May 2025?
The decline in registrations can be attributed to a slowdown in sales of mid-priced properties, particularly those between ₹1 crore and ₹5 crore. - What is the trend in property sizes in Mumbai?
Apartments up to 1,000 sq ft continue to dominate the market, accounting for 83% of all transactions. However, larger homes, particularly those over 1,000 sq ft, are seeing a gradual increase in demand. - Which property price segment is seeing the most growth in Mumbai?
Properties priced above ₹5 crore have seen a notable increase in registrations, reflecting a trend towards premium homes. - Which areas are the most popular for property registrations in Mumbai?
The western and central suburbs continue to dominate, accounting for 87% of all property registrations. South Mumbai also witnessed a slight increase in property registrations. - How have stamp duty collections changed in May 2025?
Stamp duty collections have increased by 3%, reaching ₹5,696 crore, driven by higher sales in the high-end property segment.