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Mumbai’s booming housing demand has pushed property registrations in the Mumbai Municipal Area to 15,482 units in March 2025, marking a 9.5% year-on-year increase from 14,149 units recorded in March 2024, according to data cited by Knight Frank India.
In comparison, February 2025 saw 12,066 units registered. The March surge reflects renewed buyer confidence and robust market performance.
Record-Breaking Revenue for Maharashtra Government
The Maharashtra government earned approximately ₹1,600 crore from property registrations in March 2025—the highest-ever monthly revenue, driven largely by high-value property deals.
Knight Frank India attributed the rise to stable economic conditions, increasing infrastructure development, and strong homebuyer sentiment. Residential properties accounted for nearly 80% of all registrations in March.
Premium Housing and Larger Apartments in High Demand
Shishir Baijal, Chairman and Managing Director at Knight Frank India, highlighted the trend of rising demand for premium homes. “This indicates buyer confidence, economic stability, and rising aspirations, especially for larger apartments,” he said.
Interest Rate Cuts Could Further Boost Market Momentum
Industry experts believe the market is poised for further growth. Akhil Saraf, Founder and CEO of proptech firm Reloy, said, “Despite a few sales disruptions in previous months, the March numbers are a positive sign of recovery.”
He added that a potential reduction in interest rates by the Reserve Bank of India could stimulate even more demand in the coming months, especially in the high-end and luxury property segments.
Top Developers See Fast Sales in Key Locations
Saraf also noted that reputed developers with projects in prime locations and modern amenities are seeing rapid sales. He expects this trend to continue well into the 2025–26 financial year, especially with homebuyers seeking long-term investments in quality real estate.
