Property Registrations in Mumbai Decline 4% in May 2025, Stamp Duty Collections Rise

Property registrations in Mumbai saw a decline of 4% year-on-year in May 2025, with a total of 11,565 properties being registered. Despite this dip, stamp duty collections witnessed a growth of 3%, contributing 1,062 crore to the state’s revenue. The increase in stamp duty is largely attributed to higher transactions in the 5 crore and above property segment, which continues to drive the city’s revenue growth.

Residential properties accounted for approximately 80% of all registrations in May 2025. The decline in registrations was observed in the 1 crore to 5 crore segment, where sales momentum slowed. In contrast, properties priced above 5 crore saw an increase in registration share from 5% in May 2024 to 7% in May 2025.

On a year-to-date basis, Mumbai recorded a 24% increase in registrations, totalling 64,461 properties, with a 17% rise in revenue, surpassing 5,696 crore in stamp duty collections.

In terms of property size, apartments up to 1,000 sq ft continued to dominate registrations, accounting for 83% of transactions, consistent with the previous year. The 500–1,000 sq ft range remained the most preferred, making up 44% of the registrations. However, there was a noticeable shift towards larger homes, with the 1,000–2,000 sq ft segment rising from 13% to 14%, and properties over 2,000 sq ft increasing from 2% to 3%. This reflects a steady, albeit gradual, change in buyer preferences toward more spacious living spaces.