Summary of this article
Mumbai crosses 12,300 property registrations in May
Highest May registrations in 14 years
Stamp duty collections exceed Rs 1,050 crore
Mumbai’s residential property market continued its strong momentum in May 2026, recording the highest number of registrations for the month of May in the last 14 years. According to data from the Maharashtra Department of Registrations and Stamps (IGR), the city registered 12,315 property transactions during the month, reflecting a 7 per cent year-on-year (y-o-y) increase from 11,565 registrations recorded in May 2025.
This performance underscores the sustained end-user demand in India’s most expensive housing market despite evolving economic conditions and rising property prices. The latest registration volume also surpassed the previous May peak recorded in 2025, making it the strongest May performance since at least 2013, Knight Frank India said in a report.
The registrations also translated into stamp duty collections of Rs 1,051 crore for the Maharashtra government during the month. Incidentally, revenue collections saw a marginal decline of 1 per cent, down from Rs 1,062 crore collected in May 2025, even as registration volumes increased. Industry experts attribute the slight dip in collections to a shift in the transaction mix, indicating a relatively higher share of properties in lower-value segments compared to the previous year.
On a month-on-month (m-o-m) basis, however, the market showed signs of moderation after a particularly strong March and April. Property registrations fell 14 per cent from 14,285 units in April 2026, while stamp duty collections declined 9 per cent from Rs 1,156 crore. Such sequential declines are often viewed as normal market adjustments following periods of elevated transaction activity.
Shishir Baijal, international partner, chairman and managing director, Knight Frank India, said Mumbai’s residential market continues to demonstrate remarkable resilience. He said the strong registration numbers reflect the depth of end-user demand and confidence in the city’s housing market.
He said stamp duty collections have moderated marginally, suggesting some normalisation in transaction values, while the overall market fundamentals remain robust. Factors, such as stable housing demand, improving affordability dynamics and a continued preference for homeownership are supporting market activity.
According to the report, a longer-term view of the data highlights the significant recovery in Mumbai’s housing market over the past few years. Property registrations in May 2021 stood at just 5,360 units, when the market was still recovering from the pandemic-induced disruptions. Registrations subsequently rose to 9,839 units in May 2022 and remained above 9,800 units in 2023 before crossing the 12,000-mark in 2024.
