Mumbai’s real estate market recorded 13,029 property registrations in February 2026, the highest for the month in 14 years, generating ₹1,134 crore in stamp duty revenue, according to data released by Knight Frank India.
The registrations, recorded under the jurisdiction of the Brihanmumbai Municipal Corporation (BMC), marked an 8 per cent year-on-year increase compared to February 2025. Stamp duty collections, however, rose at a sharper pace of 21 per cent, reflecting higher-value transactions across segments.
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Residential properties accounted for nearly 80 per cent of total registrations during the month, reinforcing the dominance of end-user demand in the city’s housing market.
Data indicates a steady premiumisation trend. The share of homes priced above ₹5 crore rose to 8 per cent from 6 per cent a year ago. The ₹2–5 crore segment expanded to 20 per cent from 17 per cent, while the ₹1–2 crore category increased to 33 per cent from 31 per cent. In contrast, the sub-₹1 crore segment declined to 40 per cent from 46 per cent last year.
Reacting to the data, Prashant Sharma, President of NAREDCO Maharashtra, said,
“Recording over 13,000 property registrations in February — the highest in 14 years — reflects the resilience and maturity of Mumbai’s real estate market. The 21 per cent growth in stamp duty collections compared to an 8 per cent rise in registrations clearly indicates a shift toward higher-value transactions, particularly in the ₹1–5 crore and ₹5 crore-plus segments.”
Ram Naik, Co-founder and CEO of The Guardians Real Estate Advisory, said the data points to structural strengthening in premium housing.
“The expansion of the ₹2–5 crore and ₹5 crore-plus categories reflects rising ticket sizes and an upgrade cycle among buyers. While apartments up to 1,000 sq. ft. continue to dominate volumes, the gradual shift toward larger homes signals evolving lifestyle priorities.”
Kamlesh Thakur, Co-Founder and Managing Director of Srishti Group, said the moderation in the lower-ticket segment does not indicate weakening demand.
“The decline in the sub-₹1 crore category points toward rising aspirations and income growth rather than slowdown. Homeownership is increasingly viewed as a long-term wealth creation tool by upwardly mobile professionals.”
Shilpin Tater, Managing Director of Superb Realty, said,
“The highest February registrations in over a decade underline the depth of demand in Mumbai’s property market. Premium buyers continue to remain active, reinforcing confidence in the city’s long-term growth story.”
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Shraddha Kedia-Agarwal, Director at Transcon Developers, added,
“The stronger contribution from the ₹1–5 crore and ₹5 crore-plus segments reflects a decisive move toward quality-driven housing. The Western Suburbs, in particular, continue to attract buyers seeking connectivity, amenities and long-term value.”
Market participants said sustained infrastructure development and stable economic conditions are expected to support transaction momentum in the coming months.
