Mumbai sees flat growth in property registrations in March 2026

Led by the mid-market segment priced in the range of ₹1 crore and ₹2 crore per apartment, Mumbai city (area under BMC jurisdiction) recorded 15,516 property registrations in March 2026, almost flat growth over 15,501 registrations a year ago, according to data from the Maharashtra Department of Registrations and Stamps analysed by Knight Frank India. 

“This marks the highest monthly registration volume for the month of March in the past 14 years, surpassing previous years high observed in March 2025, underscoring the continued depth and resilience of the city’s residential market,” Knight Frank India said.

Despite the marginal year-on-year (YoY) growth in registrations, stamp duty collections were lower by 6% YoY, primarily reflecting a shift in transaction mix.

On a sequential basis (as compared to February 2026), activity strengthened notably as the financial year drew to a close. 

Registrations rose 19% month-on-month (MoM), while stamp duty collections increased by 32% MoM.

Residential properties continued to dominate, accounting for nearly 80% of total registrations.

Shishir Baijal, International Partner, Chairman & Managing Director, Knight Frank India, said, “Mumbai’s residential market has demonstrated a notable growth with March 2026 registrations surpassing last year’s already elevated base to record the strongest March in over a decade.”

“This growth reiterates the depth of end-user demand in the city, supported by stable economic conditions and sustained buyer confidence. The momentum is particularly evident in the mid-income segment, where aspiring homeowners are actively upgrading to better quality housing within accessible price bands,” he said. 

“While variations in stamp duty collections reflect a shift in ticket size mix, the steady rise in transaction volumes highlights a structurally healthy market. We hope this demand-led trajectory to continue in the near term, anchored by favourable fundamentals and Mumbai’s enduring appeal as a residential destination,” he added. 

The market witnessed a clear shift toward the mid-segment in March 2026, with the share of properties priced between ₹ 1–2 crore increasing to 38% from 32% a year earlier.

 In contrast, the sub-₹1 crore segment declined from 46% to 39%, indicating a gradual move away from entry-level housing. 

Higher ticket segments remained largely stable, with the ₹2–5 crore and above ₹5 crore categories holding steady at 17% and 6%, respectively. 

“This suggests that the expansion in transaction values is being driven by upgradation within the mid-income bracket rather than a broad-based shift toward premium housing,” Knight Frank said.