Mumbai, March 31 (SocialNews.XYZ) Mumbai’s real estate market rounded off FY2024–25 on a robust note, clocking over 15,603 property registrations in March, a 10.3 per cent year-on-year (YoY) increase, according to a report on Monday.
For the entire FY 2024–25, Mumbai recorded 143,948 property registrations, marking a 9 per cent annual growth compared to 132,723 registrations in the previous fiscal (FY24).
According to data from the Inspector General of Registration (IGR) accessed by Knight Frank India, stamp duty collections for the month touched Rs 1,597 crore, the highest ever recorded in a single month, reflecting a 45 per cent annual surge.
Stamp duty collections for the year increased by 22 per cent, further validating the market’s shift towards higher-value transactions, according to the report.
The record-breaking revenue was primarily driven by a notable rise in high-value property transactions and sustained demand for premium homes.
“Mumbai’s real estate market has once again demonstrated its resilience, closing the financial year (April 2024 – March 2025) with substantial stamp duty collections and consistent growth in high-value transactions,” said Shishir Baijal, Chairman and Managing Director, Knight Frank India.
As the financial year concluded, property registrations have recorded a 9 per cent year-on-year (YoY) increase, while stamp duty collections have surged by 22 per cent YoY in FY 2024-25, Baijal informed.
The record-breaking revenue was primarily driven by a notable rise in high-value property transactions and sustained demand for premium homes.
On a month-on-month (MoM) basis, March saw property registrations rise by 29 per cent, while stamp duty collections jumped 71 per cent.
According to Prashant Sharma, President, NAREDCO Maharashtra, the consistent rise in Mumbai’s property registrations, surpassing the 15,000-mark in March 2025, is a strong testimony to the city’s enduring real estate appeal.
“This performance, driven by stable economic conditions, robust infrastructure development, and growing confidence in the market, reaffirms that Mumbai continues to lead India’s real estate transformation. We expect this momentum to accelerate further with anticipated interest rate easing and continued government push for urban infrastructure,” he mentioned.
Source: IANS
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