Mumbai Real Estate Hits 14-Year High with Over 13,000 Property Registrations in February 2026

MUMBAI, March 1, 2026: The Mumbai property market has shattered a 14-year record, posting its strongest February performance since 2012. According to the latest data from Knight Frank India, the city recorded 13,029 property registrations last month within the BMC jurisdiction, generating a massive Rs 1,134 crore in stamp duty revenue for the state exchequer. This surge represents an 8% year-on-year increase in registrations, while revenue collections jumped by 21% compared to February 2025. The disparity between volume and revenue growth indicates a significant shift toward premium and large-ticket transactions across the city.

The sustained momentum in the market highlights continued end-user demand, supported by stable macroeconomic conditions, infrastructure expansion, and improved buyer sentiment. Residential properties remained the primary engine of growth, accounting for nearly 80% of all registrations. This record-breaking February performance follows a steady upward trajectory throughout 2025, during which the city consistently recorded high volumes, despite occasional monthly fluctuations.

Commenting on the market’s performance, Shishir Baijal, Chairman & Managing Director, Knight Frank India, stated, “Mumbai’s residential market has continued its exceptional run in February 2026, recording the highest registrations and stamp duty collections for the month in 14 years. With 13,029 property registrations and Rs 1,134 crore in stamp duty collections, the data underscores not a short-term spike, but a structurally strong and resilient market. This sustained momentum is a testament to the inherent strength and depth of Mumbai’s residential sector. Demand remains largely end-user driven, with the mid-to-premium segments gaining traction, while suburban markets continue to dominate on the back of improving connectivity and expanding infrastructure. The BMC’s largest-ever budget, with its continued emphasis on transformative infrastructure projects such as the Coastal Road and key link corridors, is expected to further reinforce this positive trajectory by enhancing accessibility and widening residential catchments. Overall, Mumbai’s residential market is not merely witnessing a cyclical upswing, it is demonstrating structural stability, infrastructure-led growth, and long-term confidence, reaffirming its position as one of the country’s most robust real estate markets.”

A clear shift toward premium housing was evident in the February 2026 data. The share of properties priced at Rs 5 crore and above rose to 8% from 6% a year earlier, while the Rs 2–5 crore segment expanded to 20% from 17%. Conversely, the sub-Rs 1 crore segment saw its share decline to 40% from 46%. This trend reinforces the growing preference for higher-value transactions, which has directly contributed to the sharp rise in stamp duty collections.

In terms of unit size, apartments up to 1,000 sq ft continued to lead the market, accounting for 81% of total registrations. Within this category, the 500–1,000 sq ft segment remained the most preferred, balancing affordability with usable space. However, there is a visible growing appetite for larger configurations, suggesting that a segment of buyers is prioritizing upgraded living standards and long-term ownership over entry-level affordability, creating a more balanced demand pattern across the city.

Residential activity remains firmly anchored in the suburban belt, where scale, connectivity, and product depth continue to attract the widest buyer base. The Western Suburbs consolidated their leadership position, accounting for 57% of the total market share, while the Central Suburbs contributed 30%. In contrast, core city markets like South Mumbai and Central Mumbai maintained a steady but smaller presence due to supply constraints and higher entry thresholds. The overall distribution underscores a clear trend: demand is gravitating toward well-connected suburban micro-markets that offer a balance of accessibility and price flexibility.