Mumbai property market reaches new heights, records best January ever
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The country’s financial capital has recorded over 12,000 registrations during the month, making it the best January for property sales across primary and secondary markets, exceeding last year’s record by 9%, showed data from the Inspector General of Registration (IGR) and Controller of Stamps, Maharashtra.
The state exchequer fetched revenue worth Rs 969 crore through collection of stamp duty on these property deals, an increase of 27% from a year ago.
“Steady economic activity and potential interest rate adjustments are expected to further support the market throughout 2025, creating a favourable environment for homebuyers. Continued government support, particularly in infrastructure development, will be critical in sustaining this positive trajectory. Stakeholders are also keenly anticipating the upcoming budget, hoping for policy measures that will further strengthen the real estate sector,” said Shishir Baijal, CMD, Knight Frank India.
Registrations and revenue in January saw declines of 3% and 14%, respectively, mainly due to the seasonal dip typically observed during this month, which historically experiences a decrease compared to December.
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