Mumbai’s residential real estate market experienced a notable uptick during the 2025 festive season, with a total of 10,630 property registrations recorded during Navratri and Ganesh Chaturthi. This reflects a 23% increase over the 8,604 registrations during the same period in 2024, according to data from the Maharashtra Inspector General of Registration (IGR) analysed by Knight Frank India.
The growth extended beyond the traditional festive periods. During Shradh 2025, often considered inauspicious for property transactions, registrations still increased by 5%, with 3,368 properties recorded compared to 3,216 in Shradh 2024.
During the 10-day Navratri period from September 22 to October 1, 2025, a total of 6,238 properties were registered, marking a 20% rise from 5,199 in the previous year. The Ganesh festival period, spanning August 27 to September 6, 2025, also saw strong activity, with 4,392 registrations, up 29% from 3,405 in 2024. These numbers suggest that demand for residential units in Mumbai remains resilient, supported by buyer confidence and festive-season sentiment.
The increase in registrations translated into higher state revenue collections. During Navratri 2025, Maharashtra’s revenue from property registration reached ₹587 crore, a 17% rise from ₹502 crore in the same period of 2024. The daily average of registrations also rose from 578 units in 2024 to 624 units in 2025. Similarly, overall revenue collections during the Ganesh festival saw growth of 21%, rising from ₹219 crore in 2024 to ₹265 crore in 2025.
Knight Frank India attributed the surge in registrations to a combination of factors, including a positive outlook among homebuyers, stable interest rates, and growing demand for premium properties. The recent simplification of GST procedures and ongoing government incentives have also contributed to improving affordability, encouraging buyers to finalize purchases during festive periods.
Shishir Baijal, Chairman and Managing Director of Knight Frank India, noted, “Mumbai’s housing market has once again demonstrated its strength, with 6,238 properties registered during Navratri 2025, a 20% year-on-year increase and the highest festive performance in recent years. The rise in stamp duty collection directly reflects this growth in transactions. Stable interest rates, improved affordability, and GST simplifications have reinforced buyer confidence, creating a strong foundation for continued momentum in the residential market.”
The data indicates that Mumbai’s real estate market is increasingly showing resilience across different periods of the year, including traditionally slower months like Shradh. This reflects both underlying demand and an improved regulatory environment, which together are sustaining investor and homebuyer confidence.
Experts suggest that the market’s strong festive performance may set the tone for the remaining months of 2025, as developers continue to offer targeted promotions and flexible financing options. The combination of seasonal buying patterns, regulatory clarity, and consistent interest rates appears to be driving higher transaction volumes and state revenue collections.
As India’s financial capital continues to attract investment in both mid-segment and premium residential properties, the 2025 festive season results underscore a broader trend of recovery and sustained activity in Mumbai’s housing sector. Analysts expect that consistent buyer interest, coupled with government policy support, will continue to bolster property registrations and revenues in the coming quarters.
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