Mumbai city witnessed 13,029 property registrations in February 2026, resulting in over Rs 1,134 crore in stamp duty revenue for the state exchequer. This performance marked the highest February figures in 14 years for both registrations and revenue collection, as per a report by Knight Frank India. The report highlighted an 8% year-on-year increase in registrations and a 21% growth in stamp duty collections, indicating a rise in premium and large-ticket transactions.
Residential properties constituted nearly 80% of the total registrations, showcasing sustained demand from end-users. This trend reflects stable macroeconomic conditions, infrastructure development, and improved buyer sentiment, according to the report. Knight Frank India’s Chairman & Managing Director, Shishir Baijal, emphasized that Mumbai’s residential market is not experiencing a temporary surge but rather demonstrates structural strength and resilience.
The market in Mumbai is witnessing a notable shift towards premium housing, with properties priced above Rs 5 crore accounting for 8% of the market compared to 6% in the previous year. Additionally, the segment of houses priced between Rs 2-5 crore and Rs 1-2 crore expanded to 20% from 17% and 33% from 31%, respectively. The report also highlighted that apartments up to 1,000 sq ft comprised 81% of total registrations, with the Western Suburbs emerging as the most active housing corridor in the city.
The demand in Mumbai is increasingly focusing on well-connected suburban micro-markets that offer a blend of accessibility, livability, and pricing flexibility. These areas are positioned as the primary growth drivers of Mumbai’s housing market, as per the report’s observations.
