Mumbai Property Registrations Jump 32% on Dussehra Eve, Stamp Duty Revenue Soars

Festive cheer lifts Mumbai’s housing market

Mumbai’s property market lit up this festive season, with registrations in the Mumbai Metropolitan Region (MMR) surging 32% year-on-year in September 2025. According to data shared by real estate consultancy Knight Frank India, a total of 12,070 property units were registered during the month, compared to 9,111 units in September 2024.

This spike, which coincided with the Dussehra season, reflects a strong festive sentiment among homebuyers and investors. Traditionally, festivals like Navratri and Dussehra are seen as auspicious occasions for making big-ticket purchases, particularly real estate.

Residential demand dominates registrations

The report highlighted that 80% of total registrations were for residential properties, reaffirming the growing appetite for homeownership in the city. The trend underlines a shift where end-users, rather than speculative investors, are driving demand in the Mumbai real estate market.

Experts note that factors such as steady income growth, rising aspirations for larger homes post-pandemic, and competitive loan rates continue to fuel residential sales. Developers, too, have rolled out festive discounts and attractive financing options to capture this wave of demand.

Stamp duty collections at record levels
 

The surge in registrations also translated into higher revenue for the state exchequer. Stamp duty collections jumped 47% year-on-year, reaching ₹1,292 crore in September 2025, up from around ₹878 crore during the same month last year.

Industry analysts suggest that higher-value property transactions contributed significantly to this revenue growth. The combination of mid-income housing demand and premium property purchases indicates that Mumbai’s housing market is performing strongly across price segments.

Momentum extends beyond September

The festive surge in September adds to what has already been a strong year for Mumbai’s property sector. Data from the Maharashtra State Revenue Department shows that as of June 30, 2025, the city had already clocked 75,672 property registrations in the first half of the year, up 4% from 72,491 during the same period in 2024.

Revenue collections also touched a new milestone, with ₹6,699 crore earned in H1 2025, compared to ₹5,874 crore in H1 2024, marking a 14% increase.

This momentum highlights not just short-term festive sentiment but also long-term structural strength in Mumbai’s housing market.

Why festive demand matters

The significance of the Dussehra spike lies in its multiplier effect. Festive seasons typically accelerate decision-making for buyers who may have been waiting for an auspicious period to finalize purchases. Developers also time project launches around this period, creating a positive cycle of supply and demand.

For Mumbai, where real estate is a key economic driver, the boost in property registrations has wider implications. It not only contributes to government revenues but also spurs allied industries such as construction, home décor, furniture, and consumer durables.

Expert outlook

Real estate consultants predict that if the momentum continues through Diwali and into the year-end, Mumbai’s property market could close 2025 on a record high. Demand is expected to remain robust in both primary (new sales) and secondary (resale) markets.

Knight Frank India noted that policy stability, infrastructure upgrades in the metropolitan region, and consistent job growth in Mumbai are factors underpinning this resilience. With major transport projects such as the Mumbai Metro and coastal road nearing completion, housing demand in suburban and extended areas is also expected to climb.

Conclusion

Mumbai’s 32% jump in property registrations on Dussehra eve is more than just a festive blip—it reflects deep confidence in the city’s housing market. With stamp duty revenues soaring, residential demand staying strong, and infrastructure upgrades on the horizon, Mumbai continues to consolidate its position as India’s most dynamic real estate hub.

If the festive trend sustains through Diwali, industry watchers believe 2025 could turn into one of the best years ever for Mumbai’s real estate market.