Mumbai Realty Surges in November 2025 with 20% YoY Rise, ₹1,038 Cr Stamp Duty Collected

Mumbai’s real estate market continued its strong momentum in November 2025, recording 12,219 property registrations, a robust 20% year-on-year (YoY) rise—the highest tally for the month since 2013. According to data from the Maharashtra IGR, stamp duty collections grew 12% YoY to ₹1,038 crore, reflecting sustained demand and healthy transaction activity across key micro-markets. The surge was predominantly led by residential sales, which accounted for nearly 80% of all registrations during the month, as per an analysis by Knight Frank.

With this, Mumbai has crossed 135,807 property registrations in the first eleven months of 2025, contributing over ₹12,224 crore to the state exchequer. The period also witnessed a 5% YoY rise in registrations and an 11% YoY increase in government revenue, underlining sustained buyer confidence and consistent sales momentum.

Industry leaders share their insights on this continued upswing.

Prashant Sharma, President, NAREDCO Maharashtra
“The robust 20% year-on-year increase in property registrations in November is a clear indicator of growing buyer confidence and renewed momentum in Mumbai’s residential market. We believe this uptick reflects a broader shift: buyers are increasingly opting for well-located, good-quality homes with long-term value, supported by stable macroeconomic conditions and improving affordability. Going forward, it is important that the regulatory and policy environment continues to support transparency, timely approvals, and infrastructure-led growth — so that this encouraging momentum translates into sustainable growth across suburban as well as central markets.”

Kaushal Agarwal, Chairman, The Guardians Real Estate Advisory
“The November property registration numbers reaffirm that Mumbai’s real estate market continues on a healthy growth trajectory, especially in the residential segment, which accounted for nearly 80% of transactions. The rising share of luxury homes priced above ₹5 crore further indicates that demand is being driven not just by affordability, but also by aspiration, upgraded lifestyle choices, and long-term value perception. We expect that as key infrastructure projects continue to enhance connectivity and livability, the demand momentum will deepen across emerging micro-markets and also attract NRI buyers as well as serious long-term investors.”

Shilpin Tater, Managing Director, Superb Realty
“November has delivered a landmark result for Mumbai — 12,219 property registrations, up 20% from last year, and the best November since 2013. This rebound sends a strong message that despite macro-economic headwinds, buyer sentiment remains resilient and the city continues to attract those seeking long-term residential value. We believe that sustained demand, combined with improving infrastructure and clearance timelines, can help the sector maintain this upward trajectory into 2026.”

Shraddha Kedia Agarwal, Director, Transcon Developers
“The November property registration figures reflect a renewed confidence among home-buyers in Mumbai. For developers like us, this uptick is encouraging and suggests that well-priced and well-located residential offerings, especially in the mid-income and premium segments, are resonating with buyers. The growing share of higher-value homes and larger units shows buyers are not only looking for affordability, but for long term comfort, amenities as well as value. We remain cautiously optimistic as continued transparency, timely execution, and focus on quality delivery will be key to sustaining this momentum.”

Dhruman Shah, Promoter, Ariha Group
“The 20% YoY increase in property registrations in November is a very positive signal for Mumbai’s real estate cycle, and underscores that demand remains robust even after repeated cycles of ups and downs. This demonstrates that buyers are placing renewed importance on value, location and product proposition. We believe that given rising land and input costs, developers must balance optimism with prudence to deliver on time and maintain affordability without compromising quality.”