Mumbai Real Estate Rebounds In February With Rise In Property Registrations

The real estate segment in Mumbai continues its strong momentum in February 2026, with registration rising year-on-year and stamp duty collections seeing a sharp rise, which reflects an increasing demand for higher-value homes. This is significant because in January, Mumbai recorded a launch of 15,771 residential units, an 11 per cent decline on a year-on-year (y-o-y) basis. This was due to the cautious stance by developers due to a rise in unsold inventory. This growth in less than a month shows a sharp jump and a reinforced buyer sentiment for homes in Mumbai.

As per data from the Maharashtra Department of Registrations and Stamps (IGR), which is analysed by Knight Frank India, it highlights how Mumbai city under the BMC jurisdiction has recorded 12,848 property registrations in February 2026. This also marks a 6 per cent increase from 12,066 registrations that were registered in February 2025.

This rise in transactions also translates into higher revenue for the state government. Stamp duty collections stood at Rs 1,118 crore in February 2026 alone, which is a 20 per cent year-on-year increase from Rs 935 crore during the same time last year. This highlights the stable demand in the city’s residential market.

Premium Housing Demand

This growth in stamp duty collections is an indicator towards a shift where buyers are opting for higher-value property transactions in the city. The share of homes that are priced above Rs 5 crore rose to 8 per cent in February 2026, as compared to 6 per cent in the last year. Whereas, the Rs 2 crore to Rs 5 crore segment has expanded to 20 per cent, which is up from 17 per cent in February 2025.

Where the affordable housing segment is concerned, it witnessed a modest increase, which accounts for 33 per cent of the total registrations, in comparison to 31 per cent in the last year. On the other hand, houses priced below Rs 1 crore declined from 40 per cent to 46 per cent, indicating a growing buyer preference for the premium housing segment

Suburban Markets

The recent investments towards the development of the city’s suburban regions continue to be a factor in the residential demand in the region. The Western suburbs emerged as the most active markets, accounting for 57 per cent of registrations in February 2026 alone. This is a total increase of 49 per cent from 2025. Meanwhile, the central suburbs contributed to a 30 per cent share, which is just slightly lower than February 2025 at 34 per cent.

The transactions in these regions together contributed to smaller portions of transactions, reflecting a limited supply and price thresholds that are present in the core city areas.

Shishir Baijal, Chairman and Managing Director of Knight Frank India, highlighted the structural strength in Mumbai’s residential market, which is not a short-term spike in demand for housing. He notes that the mid-to-premium housing segment is gaining traction, while the suburban markets are continuing to dominate due to the improvements made towards connectivity and infrastructure.