Property registrations in Mumbai's municipal area edged up slightly in December 2024, with 12,415 units registered, compared to 12,285 during the same month last year, according to Knight Frank India. This marginal increase reflects the sustained demand for housing, particularly premium and spacious homes. Residential properties comprised 80% of the total registrations, underscoring their dominance in the market. The steady growth in property registrations and revenues indicates Mumbai's robust real estate market, cementing its role as a significant driver of economic activity and a preferred destination for long-term investment.

Marginal Increase in Property Registrations

December 2024 saw a marginal uptick in property registrations in the Mumbai city municipal area, under the jurisdiction of the Brihanmumbai Municipal Corporation (BMC). A total of 12,415 properties were registered during the month, a slight increase from the 12,285 units recorded in December 2023.

Dominance of Residential Properties

Residential properties accounted for a significant 80% of total registrations in December, highlighting the continued preference for housing among Mumbai’s property buyers. This indicates sustained demand for homes, particularly in the premium and spacious segments.

Annual Growth in Registrations

The total number of property registrations in 2024 exceeded 1.41 lakh units, marking an increase from the 1.26 lakh units recorded in 2023. This consistent rise demonstrates Mumbai’s resilience and its status as a thriving real estate market.

Insights from Industry Experts

Shishir Baijal, chairman and managing director of Knight Frank India, emphasized the strength of Mumbai’s property market, stating: “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.”

Mumbai’s Real Estate Market Expected to Show Healthy Growth in 2025

Mumbai's real estate market remains a critical driver of economic activity. The steady demand for properties reflects the city's enduring appeal as a long-term investment destination. With strong market fundamentals and a preference for premium housing, Mumbai’s property sector is poised for continued growth in the coming years.