Home sales in Mumbai increase by 8.75% in FY 2025 | Mumbai news

MUMBAI: Since the pandemic, the uptick in the sale of homes continues in Mumbai, year on year (YoY). As compared to FY 2024, at the close of FY 2025 a 8.75% increase in registrations of sale agreements was observed.

In 2024-25, over 1.43 lakh sale agreements were registered as compared to 1.32 lakh in 2023-24, 1.18 lakh in 2022-23, 1.08 lakh in 2021-22 and 88,000 during the pandemic year of 2020-21.

The increase in registration numbers also gets reflected in more revenue for the Maharashtra government. In FY 2023-24, a sum of ₹10,608.78 crore was collected through the statutory levies of stamp duty and registration. Now, ₹12,891.13 crore has been collected towards the same, an increase of 21.51%.

In February 2025, 12,066 such documents were registered as compared to 15,501 in March. The increase is believed to be the last-minute rush of home buyers wanting to avoid any additional cost, as the Maharashtra government is looking to hike ready reckoner rates by around 10% starting April 1.

“The consistent rise in Mumbai’s property registrations, surpassing the 15,000 mark in March 2025, is a strong testimony to the city’s enduring real estate appeal,” said Prashant Sharma, president of the National Real Estate Development Council, Maharashtra. “The 10.3% YoY growth in registrations and a remarkable 45% surge in stamp duty collections reflect both the growing aspiration for home ownership and the significant momentum in premium housing. This performance, driven by stable economic conditions, robust infrastructure development and growing confidence in the market reaffirms that Mumbai continues to lead India’s real estate transformation. We expect this momentum to accelerate further with anticipated interest rate easing and continued government push for urban infrastructure.”

While the developers attribute the surge in registrations to high sales volumes, a section of the real estate industry also stated that the numbers were not only of sale transactions but also of redeveloped homes, where owners also have to register a fresh agreement.

Shraddha Kedia-Agarwal, director of Transcon Developers, also was upbeat. “The impressive growth in property registrations and stamp duty collections in March 2025 clearly indicates a shift in buyer sentiment towards quality living and long-term investment,” she said. “With a rise in transactions for high-value homes and an increasing preference for larger apartments, it’s evident that home buyers are prioritising comfort, lifestyle, and future-ready infrastructure. We have seen a similar uptick in demand across our premium developments, especially in well-connected suburban micro-markets. This data underlines the growing maturity of Mumbai’s real estate market.”

Nishant Deshmukh, founder and managing partner of the Sugee Group, concurred. “The March 2025 property registration numbers are a reflection of Mumbai’s real estate strength and the increasing buyer confidence in long-term investments,” he said. “A 22% YoY growth in stamp duty collection for the full financial year clearly shows an upswing in high-value transactions, and we’re witnessing this trend across premium micro-markets. The rise in demand for larger homes is particularly encouraging, as it reinforces the growing preference for spacious living in the city’s evolving urban fabric.”