The Mumbai real estate market registered 11,219 property registrations in January 2026, down 8 per cent from 12,249 during the same period last year. On the other hand, stamp duty collections increased by two per cent to ₹1,012 crore compared to ₹994 crore during the same period last year, according to Maharashtra IGR data.
On a month-on-month basis, the property registrations in January 2026 fell by 22% and stamp duty collections fell by 19%, according to the data.
The sustained momentum highlights continued end-user demand, supported by positive homebuyer sentiment, stable economic conditions, and ongoing infrastructure investments across the city. Residential assets continued to dominate market activity, accounting for nearly 80% of total registrations, according to the Knight Frank India report, a real estate consultancy firm.
According to the report, sequentially, property registrations declined by 22% in January, and revenue collections dipped by 19%. However, this decline is largely attributed to a seasonal dip typically observed in January. Historically, both property registrations and revenue collections tend to soften in January, reflecting seasonal moderation after the typically strong transaction momentum recorded in December.
“Mumbai’s housing market began 2026 on a firm footing, recording its highest January stamp duty collections in 14 years, driven by a clear shift toward higher-value transactions. While registration volumes eased year-on-year by 8%, this partly reflects typical January seasonality and some operational disruptions toward month end. The resilience in revenue point to a sustained end-user confidence, supported by stable economic conditions and ongoing infrastructure development. The growing share of premium home purchases, indicate a structurally healthier market,” Shishir Baijal, Chairman and Managing Director, Knight Frank India, said.
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What are homebuyers purchasing?
According to the data, registration momentum in Mumbai continues to tilt toward the higher price brackets. Homes priced above ₹5 crore accounted for 7 per cent of total registrations in January 2026, up from 6 per cent a year earlier, reflecting demand in the luxury segment. Meanwhile, the less than ₹1 crore range saw its share decline as affordability challenges weighed on buyer sentiment in this bracket. The share of properties worth 2–5 crore also grew by 2 per cent, while the share of properties worth ₹1 crore to 2 crore increased from 30 per cent in Jan 2025 to 33 per cent in Jan 2026.
Properties up to 1,000 sq ft continue to lead in registrations
Units up to 1,000 sq ft contributed 83 per cent of all registrations, in line with last year. The 500–1,000 sq ft segment was the most preferred, striking a balance between affordability and usable space for end-users. Larger homes retained a niche buyer base, with 1,000–2,000 sq ft units witnessing a marginal dip of 1% to 24 per cent, and the share of apartments above 2,000 sq ft remained stable at 3 per cent, the report said.
Also Read: Mumbai property registrations hit all-time high in November, up 20% YoY; stamp duty collections climb 12% YoY
Western Suburb and Central Suburb account for 85% of the total market share
According to the report, the suburban markets continued to anchor activity. Western and Central Suburbs accounted for 87 per cent of the total registrations in January 2025. The Western Suburbs led with 57 per cent, while the Central Suburbs contributed 30 per cent. In contrast, South Mumbai held at 8 per cent, and Central Mumbai slipped to 5 per cent.