Mumbai’s property market recorded 11,521 property registrations in June 2025, marking a 1% year-on-year dip from the same month last year, according to data released by the Maharashtra Inspector General of Registration (IGR) on Monday. Despite the slight decline in registrations, state revenue collections rose by 5% to ₹956 crore in June, driven by higher value transactions and continued robust demand for premium housing segments.
📈 Key Highlights
✅ Registrations in June: 11,521 units
✅ YoY change: -1% (vs June 2024)
✅ Revenue collected: ₹956 crore (+5% YoY)
✅ Daily average registrations: ~384
✅ Share of residential units: 83%
✅ Western suburbs contribution: 53% of total registrations
✅ Top buyer age group: 35–45 years
🔎 Why Did Registrations Decline Slightly Despite Robust Demand?
Real estate analysts cite higher interest rates, slight increase in ready reckoner rates, and limited fresh supply in key micro-markets as reasons for the marginal dip in registration volumes compared to June 2024. However, the 5% increase in government revenue collections reflects continued buyer preference for higher value properties.
🏘️ Monthly Property Registrations in Mumbai FY25
| Month | Registrations | Revenue Collected (₹ Cr) | YoY Change (%) |
|---|---|---|---|
| April | 13,746 | 1,012 | +3.4% |
| May | 10,923 | 895 | +2.8% |
| June | 11,521 | 956 | -1% registrations, +5% revenue |
| Q1 Total | 36,190 | 2,863 | +1.7% registrations |
(Source: Maharashtra IGR data)
💰 Revenue Vs Registration Trends
While the number of registrations fell marginally in June, revenue collections rose, indicating:
- Higher ticket size transactions in prime micro-markets
- Surge in luxury and mid-premium segment deals
- Revision in ready reckoner rates in select localities
🏙️ Micro-Market Performance: June 2025
| Region | Share of Registrations (%) | YoY Change (%) |
|---|---|---|
| Western Suburbs | 53% | +2% |
| Central Suburbs | 29% | -3% |
| South Mumbai | 12% | +6% |
| Navi Mumbai & Others | 6% | -4% |
Key High-Value Micro-Markets
✅ Bandra – Juhu – Andheri belt saw a surge in deals above ₹5 crore
✅ Lower Parel – Worli – Prabhadevi transactions drove revenue growth despite flat volumes
✅ Mulund – Bhandup – Ghatkopar witnessed marginal dips due to limited new launches
👤 Buyer Demographics: Who Is Buying?
| Age Group | Share of Buyers (%) |
|---|---|
| 25–34 | 21% |
| 35–45 | 48% |
| 46–55 | 19% |
| Above 55 | 12% |
Majority of buyers continue to be in the 35–45 age bracket, driven by upgrade purchases, work proximity needs, and investment diversification.
📊 Comparison With Previous Years: June Data
| Year | Registrations | Revenue (₹ Cr) | Avg. Value Per Registration (₹ Cr) |
|---|---|---|---|
| 2023 | 10,319 | 834 | 0.81 |
| 2024 | 11,647 | 910 | 0.78 |
| 2025 | 11,521 | 956 | 0.83 |
(Source: Maharashtra IGR)
Insight: While June 2025 saw slightly lower registrations than 2024, the average value per transaction increased to ₹83 lakh, highlighting the growing premiumisation of Mumbai’s property market.
🏗️ What Is Driving Premium Segment Demand?
✅ 1. Rising Affluence Among Urban Buyers
High salaried professionals, startup founders, and business owners are driving demand for ₹2–5 crore apartments.
✅ 2. NRI Investments
With the rupee stabilising, NRI interest in Mumbai luxury projects has risen by 18% YoY as per Knight Frank India.
✅ 3. Developer Offers and Zero EMI Schemes
Many developers offered limited period zero-EMI schemes and stamp duty waivers during April–June to sustain momentum post general elections.
💡 Expert Views
Anuj Puri, Chairman, ANAROCK Group
“Mumbai’s property market remains fundamentally strong. The marginal dip in registrations is cyclical. Rising average transaction value is a healthy indicator of market depth.”
Dhaval Ajmera, Director, Ajmera Realty
“Buyer sentiment remains positive. With stable repo rates, we expect registrations to surpass FY24 numbers by year-end.”
⚠️ Challenges Facing Mumbai’s Property Market
| Challenge | Impact |
|---|---|
| Elevated interest rates | May defer purchases for mid-income buyers |
| High ready reckoner rates | Impacts registration cost burden |
| Limited land supply | Restricts fresh launches in prime areas |
| Infrastructure delays | Slows down peripheral market growth |
🏦 Policy Measures In Focus
Developers and industry bodies have urged the state government for:
✅ Reduction in stamp duty from current 5% to 3% to revive mid-income demand
✅ Single-window clearance system implementation to reduce project delays
✅ Incentives for redevelopment and slum rehabilitation projects
🔮 Outlook For FY25
Real estate consultants forecast:
- Total FY25 Mumbai registrations: ~1.45 lakh units (vs 1.41 lakh in FY24)
- Luxury housing share: Likely to increase from 8% to 12% by FY26
- Revenue collections: Estimated to cross ₹12,500 crore in FY25
🧭 Upcoming Triggers
✅ Launches in Thane and Navi Mumbai micro-markets in Q2 FY25
✅ MHADA redevelopment approvals under revised DCR guidelines
✅ Mumbai Metro Line 3 partial commissioning by November 2025
📌 Conclusion
While June 2025 property registrations in Mumbai dipped marginally by 1% YoY to 11,521 units, the 5% increase in revenue collection underscores the rising premiumisation trend. With developers focusing on mid-premium and luxury launches, and buyer sentiment remaining strong, the city’s real estate market is expected to maintain its growth trajectory in FY25, barring any unforeseen macroeconomic shocks.
⚠️ Disclaimer
This news article is based on publicly available data from Maharashtra IGR, Knight Frank, ANAROCK, and other industry sources as of June 30, 2025. Readers are advised to consult registered real estate advisors and check official registration portals for verified transaction data before making investment decisions.
