Mumbai’s property market recorded 12,315 registrations in May 2026, the highest for the month of May in 14 years, according to data from the Maharashtra Department of Registrations and Stamps (IGR) analysed by Knight Frank India. This marks a 7% year-on-year increase compared to May last year, when 11,565 registrations were recorded under the Brihanmumbai Municipal Corporation (BMC) area.
Highest May Registrations in Over a Decade
Knight Frank India noted in its analysis, “Property registrations in May 2026 mark the highest volume for the month of May in the past 14 years, surpassing the previous peak recorded in May 2025, highlighting the strength of Mumbai’s residential market.” The total surpassed the previous May highs of 12,000 units in 2024 and 11,565 units in 2025, making it the strongest May performance since at least 2013.
Stamp Duty Collections and Market Trends
Stamp duty collections for the month stood at over Rs 1,051 crore for the state exchequer, according to the report. Despite higher registration volumes, stamp duty revenue fell marginally by 1% year-on-year. The consultancy attributed this to “a shift in the transaction mix.” On a sequential basis, market activity softened. Registrations declined 14% in May 2026 compared with April, while stamp duty collections dropped 9% over the same period.
Shishir Baijal, chairman and managing director and international partner at Knight Frank India, said, “Mumbai’s residential market continues to demonstrate remarkable resilience, with May 2026 recording the strongest performance for the month in more than a decade.” He added that “the sustained volume of registrations reflects the depth of end-user demand and confidence in the city’s housing market.”
Baijal further said that while stamp duty collections showed a mild moderation, indicating a normalisation in transaction values, “overall market fundamentals remain robust, supported by stable demand, improving affordability dynamics and continued preference for homeownership among buyers.”
Consistent Demand Above 11,000 Registrations
IGR data analysed by Knight Frank India showed that Mumbai has consistently remained above 11,000 registrations in recent months, signalling steady underlying demand despite changing market conditions. The report also highlighted that May 2026’s total surpassed the previous May highs of 12,000 units recorded in 2024 and 11,565 units in 2025, making it the strongest May performance since at least 2013.
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