Mumbai clocks all-time high of 52,896 new property registrations in Jan-April: Report

Mumbai, May 1 (IANS) Despite geopolitical tensions and the global economic slowdown, Mumbai scaled an all-time high of 52,896 new property registrations in January-April this year, which represents an 8 per cent rise over the 48,819 properties registered during the same four months in 2024, according to a report released by real estate consultancy Anarock on Thursday.

An analysis of the data of the Inspector General of Registration (IGR), Maharashtra, reveals that the overall revenue collected from property registrations in Mumbai stands at around Rs 4,633 crore in the first four months of 2025. This is 21 per cent more than the same period (January - April 2024) last year, when the revenue collected was Rs 3,836 crore.

“Further analysis of the property registrations data and demand trends from January to April shows that the average ticket price of sold homes was Rs 1.57 crore, reminiscent of 2023 and 2024, when it was Rs 1.56 crore,” Anarock chairman Anuj Puri said.

“In the corresponding period in 2021, the average ticket price was significantly lower at Rs 1.02 crore. Thus, it witnessed a 54 per cent jump between January-April 2021 and January-April 2025. In short, 2025 continues to record higher sales of pricey homes than in the more affordable categories,” he added.

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 April 2025 are at record highs, the report states.

A deeper analysis reveals that April 2025 recorded the highest number of property registrations in this month over the past seven years (since 2019), with over 13,080 properties registered. The revenue collected in April 2025 stood at approximately Rs 1,115 crore. In comparison, April 2024 saw around 11,648 property registrations -- about 12 per cent lower than this year. Revenue collection last year was also lower by nearly 5 per cent.

Considering that housing sales remained tepid across MMR (including Mumbai) in Q1 2025, the spate of registrations in the first four months of the year is remarkable. As per Anarock Research, Q1 2025 saw approx. 21,930 units sold in Mumbai -- about 28 per cent less than in Q1 2024.

Puri said, “A key factor behind the surge in property registrations in this period is the record-breaking activity in March, when 15,501 properties were registered. This spike came close on the heels of the announcement of a 3.9 per cent hike in Maharashtra's ready reckoner rates for FY26. March 2025 marked the highest property registrations in the past three years. Prior to this, the highest figures were recorded in December 2020 with 19,581 registrations, and March 2021 with 17,728 registrations.”

--IANS

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