The residential property market in Mumbai continued to show strong momentum in February 2026, recording 13,029 property registrations within the jurisdiction of the Brihanmumbai Municipal Corporation (BMC). According to data from the Maharashtra Inspector General of Registration (IGR), accessed and analysed by Knight Frank India, the transactions generated ₹1,134 crore in stamp duty revenue for the state government.
This performance marks the highest number of property registrations recorded in the month of February in the last 14 years, reflecting sustained demand and confidence in the city’s housing market.
Registrations and Revenue Show Strong Annual Growth
Compared with February 2025, property registrations increased by 8%, rising from 12,066 units to 13,029 units in February 2026.
Stamp duty collections grew at a much faster pace, climbing 21% year-on-year, from ₹935 crore to ₹1,134 crore.
Such a sharper rise in revenue relative to transaction volume usually indicates higher-value property deals. The February data clearly reflects this trend, with a growing share of transactions occurring in the mid and premium housing segments.
Premium Housing Segments Gain Momentum
An analysis of price segments highlights a clear shift towards more expensive homes.
Homes priced above ₹5 crore accounted for 8% of total registrations, up from 6% last year.
The ₹2–5 crore segment expanded to 20%, compared to 17% a year earlier.
Properties priced ₹1–2 crore increased their share to 33%, up from 31%.
Meanwhile, the sub-₹1 crore category declined significantly, dropping from 46% to 40%.
This shift in price distribution explains the sharp growth in stamp duty collections. It indicates that buyers are increasingly opting for higher-value homes, either upgrading their residences or investing in better-located and larger properties.
Commenting on the trend, Shishir Baijal, Chairman and Managing Director of Knight Frank India, said the February performance reflects structural strength in Mumbai’s housing market rather than a temporary surge. He noted that demand remains largely end-user driven, with the mid-to-premium segments gaining traction.
Compact Homes Continue to Dominate Sales
Despite the rising share of premium housing, compact apartments remain the backbone of the market.
Homes measuring up to 1,000 sq. ft. accounted for 81% of total registrations in February 2026.
Within this category:
Apartments sized 500–1,000 sq. ft. contributed 45% of total transactions, making them the most preferred configuration.
Given Mumbai’s high land prices and dense urban landscape, compact homes continue to offer a more affordable entry point for buyers while meeting practical living needs.
At the same time, the increase in higher-value transactions suggests that a segment of buyers is moving towards larger or more premium properties, creating a balanced demand pattern across price categories.
Suburban Markets Lead Transaction Activity
Most residential activity continues to be concentrated in the suburban parts of the city.
The Western and Central Suburbs together accounted for 87% of total property registrations during the month.
The Western Suburbs remained the most active residential corridor, supported by:
Strong social infrastructure
Better connectivity
Continuous supply of new residential projects
The Central Suburbs also contributed significantly to overall transactions.
In contrast, property registrations in the core city areas remained relatively lower due to limited supply and higher property prices.
Infrastructure Projects Supporting Housing Demand
Infrastructure development continues to play a major role in supporting Mumbai’s housing market.
The latest budget announced by the Brihanmumbai Municipal Corporation places significant emphasis on transformative infrastructure projects such as the Coastal Road and key road link corridors across the city.
These developments are expected to:
Improve connectivity between residential zones and business districts
Reduce travel time across the city
Expand the residential catchment areas for homebuyers
Over time, such infrastructure improvements also tend to boost property values in emerging micro-markets.
End-Users Driving Market Growth
Residential properties accounted for nearly 80% of total property registrations in February 2026, reinforcing the view that end-users remain the primary drivers of the market.
The steady increase in registrations combined with stronger revenue growth indicates long-term commitment from homebuyers, rather than speculative investment.
Industry experts believe that stable economic conditions, improved infrastructure and growing buyer confidence are contributing to the market’s resilience.
A Market Showing Long-Term Stability
The record performance in February highlights several key trends shaping Mumbai’s real estate sector:
Rising property registrations
Growing share of mid and premium housing
Continued demand for compact homes
Strong activity in suburban markets
Infrastructure-led expansion of residential corridors
Together, these factors underline the structural strength and long-term stability of Mumbai’s housing market, suggesting that the city’s residential sector remains on a steady growth path.
