New Delhi, March 31: The city of Mumbai recorded 15,516 property registrations in March, generating over ₹1,492 crore in stamp duty revenue for the state exchequer, a report said on Tuesday.
The Knight Frank report cited data from the Maharashtra Department of Registrations and Stamps, stating that the March figure is the highest monthly registration volume for the reported month in the past 14 years, surpassing the previous high of 15,501 in March 2025.
Registrations remained broadly stable year-on-year, rising marginally from elevated levels of 15,501 a year earlier, while stamp duty collections eased by 6 per cent on a year-on-year basis, reflecting a shift in transaction mix.
On a sequential basis, activity strengthened notably as the financial year ended.
Registrations rose 19 per cent month-on-month (MoM), while stamp duty collections increased by 32 per cent MoM, indicating sustained end-user demand supported by stable macroeconomic conditions, ongoing infrastructure upgrades, and positive buyer sentiment. Residential properties continued to dominate, accounting for nearly 80 per cent of total registrations.
The market showed a clear tilt towards the mid-segment, with properties priced between ₹1–2 crore rising 6 per cent annually to 38 per cent of transactions. The sub-₹1 crore segment fell to 39 per cent from 46 per cent.
"The growth in transactions 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 middle-income segment, where aspiring homeowners are actively upgrading to better quality housing within accessible price bands," said Shishir Baijal, International Partner, Chairman and Managing Director, Knight Frank India.
Higher ticket segments remained largely stable, with the ₹2–5 crore and above-₹5 crore categories holding steady at 17 per cent and 6 per cent, respectively.
The buying pattern suggested that the expansion in transaction values is being driven by upgradation within the mid-income bracket rather than a broad-based shift toward premium housing.
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