Mumbai— Property registrations in Mumbai reached record levels in the first five months of 2025, with revenue collections showing a significant year-on-year increase, according to new data from the Maharashtra State Revenue Department.
From January to May 2025, the city recorded nearly ₹5,695 crore in revenue from property registrations, a 17% increase compared to the ₹4,860 crore collected during the same period in 2024. The data, analyzed by real estate consultancy Anarock Group using figures from the Inspector General of Registration (IGR), Maharashtra, highlights sustained demand across budget categories.
In total, 64,461 properties were registered in Mumbai in the first five months of 2025, up 6% from 60,818 during the same period last year. Anarock Chairman Anuj Puri noted that May 2025 saw over 11,562 property registrations, making it the second-highest May total since 2019. While slightly below the 11,999 registrations recorded in May 2024, the figures still underscore strong market momentum. Revenue from registrations in May 2025 alone reached approximately ₹1,062 crore.
Despite robust transaction activity, Mumbai’s luxury residential segment—homes priced above ₹2.5 crore—is showing signs of oversupply. While high-end properties drove sales in early 2025, the influx of new listings has led to a surge in inventory. For the first time since 2022, the number of unsold luxury units rose by 36% year-on-year in Q1 2025, from about 6,180 units at the end of Q1 2024 to roughly 8,420 units by March 2025.
Puri attributed the increase in unsold luxury stock to aggressive new launches. In 2024, developers added 16,480 luxury units across the Mumbai Metropolitan Region (MMR), with an additional 5,294 units introduced in Q1 2025 alone.
Meanwhile, analysis of sales trends from January through May revealed that the average ticket size of homes sold stood at ₹1.59 crore—the highest average since 2019. This indicates a continued preference for high-value properties among buyers, even as inventory levels rise in the upper segment of the market.
The figures suggest that while overall demand remains strong, particularly in the mid- to high-end segments, developers may need to adjust their strategies to address the growing inventory in the luxury housing space. (Source: IANS)
