Mumbai property market scales new peak in 2024, records best-ever performance
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The maximum city has recorded over 1.41 lakh registrations in 2024, making it the best year for property sales across primary and secondary market, exceeding last year’s record by 11%. Total stamp duty collection rose 12% to over Rs 12,138 crores, showed data from Inspector General of Registration (IGR) and Controller of Stamps, Maharashtra.
“Mumbai’s property market continues to showcase its resilience and adaptability. The steady rise in registrations and revenue highlights robust demand, especially for premium and spacious homes. The property registration trend reflects evolved homebuyer preferences for quality and value. The performance highlights Mumbai’s real estate market as a key driver of economic activity and an attractive long-term investment,” said Shishir Baijal, CMD, Knight Frank India.
Over 12,363 property registrations, contributing Rs 1,131 crore to the state government revenues, were recorded in the month of December.
“Infrastructure projects in Mumbai are helping reshape the urban landscape, driving a significant shift in the property market. These developments are fuelling a surge in realty demand, with homebuyers eager to take advantage of improved connectivity. As the government invests in these transformative projects, the property market sees heightened activity, evolving pricing dynamics, and new real estate
