Mumbai's residential property market has achieved its most robust September performance in over 14 years, with 12,622 property registrations recorded in September 2026. This figure represents a 5% increase compared to the 12,070 registrations in September 2025, according to data from the Maharashtra Department of Registrations and Stamps, analyzed by Knight Frank India.
The September 2026 registrations also saw a marginal 0.3% month-on-month rise from the 12,580 properties registered in August 2026. However, despite the surge in transaction volumes, Maharashtra's stamp duty collections experienced a 5% year-on-year decline, totaling Rs 1,227 crore in September, down from Rs 1,292 crore a year prior. Knight Frank attributed this reduction primarily to a shift in the types of property transactions.
Ganesh Chaturthi Fuels Festive Demand
Festive demand played a crucial role in driving property registrations during the month. The Ganesh Chaturthi period, spanning from September 14 to September 25, witnessed 5,379 property registrations in Mumbai. This marked a substantial 22% year-on-year increase and represented the highest number of registrations recorded during this specific festive period in the last four years.
The festive season also contributed significantly to state government revenue. Stamp duty collections during these celebratory days amounted to Rs 640 crore, accounting for more than half of September's total stamp duty revenue. This figure was 32% higher than the Rs 485 crore collected during the corresponding Ganesh Chaturthi period in 2025.
Mumbai's Long-Term Property Market Growth
The latest registration figures underscore a decade of significant expansion in Mumbai's property market activity. In September 2013, the city recorded 4,116 property registrations. This number steadily climbed, crossing 7,800 in September 2021 and surpassing 10,000 in September 2023 with 10,694 properties registered. It further rose to 12,070 in September 2025 before reaching the current 12,622.
Shishir Baijal, Chairman and Managing Director of Knight Frank India, commented on the strong September performance, noting it reflected continued homebuyer participation, particularly amplified during Ganesh Chaturthi. He also emphasized that buyers remain discerning, with well-located projects and developments supported by robust infrastructure continuing to attract considerable interest.