Mumbai Collects Over ₹1,000 Cr in Stamp Duty from Property Registrations: Knight Frank India

Mumbai, February 10, 2026: Mumbai city (area under BMC jurisdiction) has recorded 11,219 property registrations in January 2026, generating over INR 1,012 crore in stamp duty revenue for the state exchequer, marking the highest January collections in 14 years. While registrations declined by 8 per cent YoY compared to January 2025, activity still stood as the second-highest January on record over the same period.

Stamp duty collections rose 2 per cent YoY, reflecting a higher share of large-ticket transactions. The sustained momentum highlights continued end-user demand, supported by positive homebuyer sentiment, stable economic conditions, and ongoing infrastructure investments across the city. Residential assets continued to dominate market activity, accounting for nearly 80 per cent of total registrations.

Sequentially, property registrations declined by 22 per cent in January, and revenue collections dipped by 19 per cent. However, this decline is largely attributed to a seasonal dip typically observed in January. Historically, both property registrations and revenue collections tend to soften in January, reflecting seasonal moderation after the typically strong transaction momentum recorded in December.

Shishir Baijal, Chairman & Managing Director, Knight Frank India, stated “Mumbai’s housing market began 2026 on a firm footing, recording its highest January stamp duty collections in 14 years, driven by a clear shift toward higher-value transactions. While registration volumes eased year-on-year by 8 per cent, this partly reflects typical January seasonality and some operational disruptions toward month end. The resilience in revenue point to a sustained end-user confidence, supported by stable economic conditions and ongoing infrastructure development. The growing share of premium home purchases, indicate a structurally healthier market.”

Registration momentum in Mumbai continues to tilt toward the higher price brackets. Homes priced above INR 5 crore accounted for 7 per cent of total registrations in January 2026, up from 6 per cent a year earlier, reflecting demand in the luxury segment. Meanwhile, the less than 1 cr range saw its share decline as affordability challenges weighed on buyer sentiment in this bracket. The share of properties worth 2–5 crore also grew by 2 per cent, while the share of properties worth INR 1 to 2 crore increased from 30 per cent in January 2025 to 33 per cent in January 2026.

Properties Up To 1,000 sq ft Continue to Lead in Registrations

Units up to 1,000 sq ft contributed 83 per cent of all registrations, in-line to last year. The 500–1,000 sq ft segment was the most preferred, striking a balance between affordability and usable space for end-users. Larger homes retained a niche buyer base, with 1,000–2,000 sq ft units witnessed a marginal dip of 1 per cent to 24 per cent and share of apartments above 2,000 sq ft remained stable at 3 per cent

Western and Central suburbs Are 85 Per Cent of Total Market Share

The suburban markets continued to anchor activity. Western and Central Suburbs accounted for 87 per cent of the total registrations in January 2025. The Western Suburbs led with 57 per cent, while the Central Suburbs contributed 30 per cent. In contrast, South Mumbai held at 8 per cent, and Central Mumbai slipped to 5 per cent.