Mumbai Records Highest February Property Registrations in 14 Years; Premium Housing Drives 21% Surge in Stamp Duty Collections

Mumbai’s real estate market delivered a record-breaking performance in February 2026, with the city registering 13,029 property transactions under the jurisdiction of the Brihanmumbai Municipal Corporation (BMC). The registrations generated over ₹1,134 crore in stamp duty revenue for the state exchequer, marking the highest February performance in 14 years in terms of both transaction volumes and revenue collections, according to a report by Knight Frank India.

On a year-on-year (YoY) basis, property registrations rose 8 per cent compared to February 2025, while stamp duty collections surged by a sharper 21 per cent. Residential properties continued to dominate the market, accounting for nearly 80 per cent of total registrations during the month.

February 2026 witnessed a marked shift towards higher-value housing. The share of properties priced above ₹5 crore increased to 8 per cent, up from 6 per cent a year earlier. The ₹2–5 crore segment expanded to 20 per cent from 17 per cent, while the ₹1–2 crore category rose to 33 per cent from 31 per cent in February 2025.

In contrast, the sub-₹1 crore segment saw its share decline to 40 per cent from 46 per cent last year. This steady premiumization trend has directly contributed to the significant jump in stamp duty collections and indicates an upgrade cycle among homebuyers seeking better amenities, connectivity and long-term value appreciation.

Prashant Sharma, President, NAREDCO Maharashtra said: “The February 2026 registration numbers are extremely encouraging for Mumbai’s real estate sector. Recording over 13,000 property registrations, the highest February performance in 14 years, reflects the resilience and maturity of the market. The 21 per cent growth in stamp duty collections compared to an 8 per cent rise in registrations indicates a clear shift toward higher-value transactions, particularly in the ₹1–5 crore and ₹5 crore-plus segments. This trend highlights growing buyer confidence, stronger purchasing power, and a preference for quality housing in well-connected locations. With nearly 80 per cent of registrations driven by residential properties, the market continues to be fundamentally end-user-led, supported by stable macroeconomic conditions and ongoing infrastructure expansion.”