Property registrations in Mumbai at new high, revenue collection up 17 pc

Mumbai, May 31 (IANS) Property registrations across budget categories in the city continued to scale new high in the first five months of 2025, a report showed on Saturday.

According to the Maharashtra State Revenue Department, the overall revenue collected by the authorities from property registrations and the total registrations in Mumbai in January to May 2025 was at a record high.

An analysis of the data of Inspector General of Registration (IGR), Maharashtra revealed that the overall revenue collected from property registrations in Mumbai stood at nearly Rs 5,695 crore in the first five months of 2025, according to the report by Anarock Group.

This is 17 per cent more than last year’s corresponding period (January- May 2024) when the revenue collected was approx. Rs 4,860 crore.

In terms of the number of property registrations, 64,461 properties were registered in the city in five months of 2025 against 60,818 properties in the same period last year. This is a 6 per cent jump this year over last year.

“A deeper analysis reveals that May 2025 recorded the second-highest number of property registrations since 2019 in May month, with over 11,562 properties registered,” said Anuj Puri, Chairman, Anarock Group.

The revenue collected during the month stood at approximately Rs 1,062 crore. In comparison, May 2024 saw the highest registrations of around 11,999 property registrations — about 4 per cent higher than this year.

Meanwhile, the Mumbai luxury residential market continued to drive sales in Q1 2025 but ample new supply additions in this segment (homes priced above Rs 2.5 crore) has created an inventory rise, said the report.

Anarock data indicated that for the first time since 2022, Q1 2025 witnessed a 36 per cent yearly increase in unsold stock of luxury homes – from nearly 6,180 units as of Q1 2024-end to nearly 8,420 units as of Q1 2025 end.

“The increase in unsold luxury stock is mainly attributable to significant new unit additions in this price category over the last one year. As per data, 2024 saw as many as 16,480 units added in the Rs 2.5 crore and above budget category in entire Mumbai Metropolitan Region (MMR), while another 5,294 units were added in Q1 2025,” said Puri.

Further analysis of the property registrations data and demand trends over January to May months shows that the average ticket price of homes sold stood at Rs 1.59 crore – the highest since 2019, indicating sales of high-ticket price homes.

--IANS

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