Mumbai Property Market Soars: Record February Registrations & Stamp Duty in 14 Years

The report from Knight Frank India said registrations rose 8 per cent year‑on‑year (YoY) while stamp duty collections grew 21 per cent YoY, indicating a larger share of premium and large‑ticket transactions.

Residential properties accounted for nearly 80 per cent of total registrations and that sustained momentum highlights continued end‑user demand, stable macroeconomic conditions, infrastructure expansion and improved buyer sentiment, the report further said.

Mumbai's residential market data shows not a short‑term spike, but a structurally strong and resilient market, said Shishir Baijal, Chairman & Managing Director, Knight Frank India.

The BMC's largest‑ever budget and transformative infrastructure projects such as the Coastal Road and key link corridors, is expected to further reinforce this positive trajectory by enhancing accessibility and widening residential catchments, Baijal added.

The market showed a clear shift toward premium housing as the share of properties priced above Rs 5 crore rose to 8 per cent from 6 per cent a year earlier. The segments where houses are priced Rs 2-5 crore and Rs 1-2 crore expanded to 20 per cent from 17 per cent and 33 per cent from 31 per cent, respectively, the report further said.

Apartments up to 1,000 sq ft accounted for 81 per cent of total registrations, the report said, adding that the Western Suburbs have further consolidated their leadership, reinforcing their position as the city's most active housing corridor.

"Demand is gravitating toward well-connected suburban micro-markets that offer a balance of accessibility, liveability and price flexibility, positioning them as the primary growth engines of Mumbai's housing market," the report noted.

- IANS