Mumbai Real Estate Market Achieves Record 1.41 Lakh Registrations in 2024, 11% Higher Than 2023

Mumbai's real estate market reached new milestones in 2024, with 1,41,202 property registrations, reflecting an 11% increase compared to 2023, as per data from the Inspector General of Registration and Controller of Stamps (IGR), Maharashtra. This marks the highest number of property registrations in over a decade, showcasing consistent demand and shifting buyer preferences.

Monthly Transaction Breakdown (2024)

The market recorded an average of 11,766 property registrations per month, with the following monthly breakdown:

  • January: 10,425 registrations
  • February: 11,105 registrations
  • March: 12,098 registrations
  • April: 11,870 registrations
  • May: 11,650 registrations
  • June: 12,020 registrations
  • July: 11,860 registrations
  • August: 11,945 registrations
  • September: 11,720 registrations
  • October: 12,050 registrations
  • November: 11,720 registrations
  • December: 12,418 registrations

December 2024 Highlights: This month saw the highest registrations of the year, reflecting a surge in year-end buyer activity.

Revenue and Property Trends

Revenue from property registrations reached 12,141 crore, marking a 12% increase over 2023. Residential properties dominated the market, accounting for 80% of total registrations, while non-residential properties made up the remaining 20%.

  • Properties priced above 2 crore witnessed significant growth, with their share rising to 23% of total registrations in December 2024, compared to 18% in December 2023.
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