Festive season fuels uptick in Mumbai property registrations: Knight Frank India

The Mumbai city (area under BMC jurisdiction) recorded 6,238 property registrations during the ten days of Navratri (September 22nd –October 1st, 2025), marking a 20% increase over the 5,199 registrations in the same period last year. This surge also contributed to a 17% YoY rise in state revenue collections, which touched INR 587 crore during the festive period. The daily average of registrations improved from 578 units in Navratri 2024 to 624 units in 2025, according to Knight Frank India.

September 2025, with a total of 12,070 registrations, turned out to be the city’s best September in a decade. The shift in the festive calendar played a pivotal role, as the Shraddh period concluded earlier (September 7–21, 2025), allowing Navratri (September 22–October 1, 2025) to drive sales momentum earlier than last year. The onset of the festive season revived buyer activity, supported by stable interest rates, improving affordability, and rising appetite for premium properties. Higher stamp duty collections mirrored this growth in demand, with daily revenues climbing from INR 56 crore in 2024 to INR 59 crore in 2025.

In September 2025, Mumbai recorded 12,070 property registrations, averaging 402 registrations per day — the city’s highest September tally in the past decade. The increase was mainly due to the festive calendar lying almost completely in the month. This year, the Shraddh period ended earlier (September 7–21), allowing Navratri (September 22–October 1) to boost activity within the same month, unlike in 2024 when Navratri began later in October.

The onset of the festive season brought back the sales momentum, leading to a surge in registrations. This was backed by positive outlook among homebuyers, influenced by stable interest rates and heightened enthusiasm for premium properties.

Moreover, the improvement in stamp duty collection is directly influenced by the increased number of registrations. Total revenue collections, primarily driven by increased registrations volume, saw a 17% increase, with total revenue collection of INR 587 crores in the 10-days of Navratri compared to the INR 502 crores collected in Navratri 2024. Daily revenue collection also exhibited growth, rising from INR 56 crores to INR 59 crores per day during Navratri 2025.

In 2025, during the Shraddh period, Mumbai recorded property registration of 3,368 units. The daily average of registrations increased by 5%, from 292 to 306, indicating sustained market activity. Furthermore, revenue collection showed significant growth, with a 21% rise in total revenue, INR 265 crore in 2025 as against INR 219 cr in 2024 and a notable 20% increase in average daily revenue, from INR 24 cr to INR 20 cr. These figures reflect the enduring strength of Mumbai’s property market, even during traditionally quieter periods.

Shishir Baijal, Chairman & Managing Director, Knight Frank India, said, “Mumbai’s housing market has once again proven its strength, with 6,238 properties registered during Navratri 2025 — a 20% year-on-year growth and the highest festive performance in recent years. This surge, supported by stable interest rates, improving affordability, and the recent GST simplifications, reflects the sustained confidence of homebuyers. The robust revenue collections of INR 587 crore further affirm that buyer sentiment remains firmly positive, establishing a strong foundation for continued momentum in the residential market.”