Mumbai Logs Highest Property Registrations In 14 Years, Driven By Mid-Segment Demand

The real estate sector in Mumbai continued its strong momentum in March 2026, with registration rising year-on-year (y-o-y) and stamp duty collections seeing a sharp rise, as well, reflecting an increasing demand for higher-value homes. According to data shared by Knight Frank India, registrations noted by the Maharashtra Department of Registrations and Stamps, showed that March 2026 saw over 15,516 property registrations within the BMC jurisdiction. This made it the highest for the month of March in the last 14 years.

This was supported by the robust growth that was seen in February 2026, too, with both registrations and stamp duty collections rising y-o-y. Incidentally, January saw an 11 per cent y-o-y decline in launches of residential units (15,771 units).

“Mumbai’s residential market has demonstrated a notable growth with March 2026 registrations surpassing last year’s already elevated base to record the strongest March in over a decade. This growth reiterates the depth of end-user demand in the city, supported by stable economic conditions and sustained buyer confidence. The momentum is particularly evident in the mid-income segment, where aspiring homeowners are actively upgrading to better quality housing within accessible price bands. While variations in stamp duty collections reflect a shift in ticket size mix, the steady rise in transaction volumes highlights a structurally healthy market. We hope this demand-led trajectory will continue in the near term, anchored by favourable fundamentals and Mumbai’s enduring appeal as a residential destination," said Shishir Baijal, international partner, chairman and managing director, Knight Frank India.

Registrations have risen by 19 per cent as compared to February 2026, while stamp duty collections grew sharply by 32 per cent on a month-on-month (m-o-m) basis. The stamp duty collection reached nearly Rs 1,492 crore. On a yearly basis, property registration remained steady, whereas the stamp duty collections had declined by 6 per cent in comparison to March 2025. This divergence is an indication that a shift in transaction is unfolding rather than a slowdown in demand.

A closer look to this distribution reveals the transition towards the mid-income segment. Properties that are priced between Rs 1 crore and Rs 2 crore had accounted for 38 per cent of total registration in March 2026. This is an increase of 32 per cent from the previous year. However, the share of housing below Rs 1 crore has declined from 46 per cent to 39 per cent. On the other hand, the higher value segment in this market, Rs 2 crore to Rs 5 crore and above remained stable.