March saw highest ever property registration in Mumbai, ahead of hike in reckoner rates from April 2025

ANI April 2, 2025 167 views

Mumbai's real estate market experienced a significant surge in property registrations during March 2025, with 15,501 units registered, representing a 10% year-on-year increase. The spike was primarily attributed to consumers making advance purchases before the expected hike in ready reckoner rates from April 2025. Central and western Mumbai suburbs led the sales, accounting for 78% of total registrations, while higher-priced properties gained more market share. The robust performance signals a healthy outlook for the city's housing sector, with organized developers like Lodha and Godrej Properties poised to benefit from this trend.

"The market's performance in FY25 was exceptional" - Nuvama Research Report
Mumbai, April 2: Mumbai real estate market saw a notable surge in housing registrations in March 2025, with the number of unit registrations up by 10 per cent year-on-year (YoY) to 15,501 units. The total value of registered properties also spiked by 42 per cent YoY, to Rs 265 billion.

Key Points

1

Mumbai property registrations jump 10% before rate hike

2

Central and western suburbs dominate real estate sales

3

Higher-priced units gain market share

4

Registrations reach all-time high in FY25

According to a research report by Nuvama, higher registrations were done because reckoner rates are going to increase by 3.4 per cent in Mumbai and 3.9 per cent for Maharashtra from this month (April, 2025).

This growth is attributed to advance purchases by consumers ahead of the expected hike in ready reckoner rates, set to take effect from the current month (April 2025).

According to the report, about 80 per cent of the registrations during the month were of residential properties.

Registrations of units below 500 sft fell by 38 per cent in March from 48 per cent (YoY), while units between 500-1000 sft increased to 48 per cent from 43 per cent (YoY). Units over 1000 sft increased to 14 per cent from 9 per cent in March 2024.

The report highlighted that the overall market performance in FY25 was exceptional, with registrations reaching an all-time high. The number of units registered surged 9 per cent yearly, while the value saw a 22 per cent YoY increase, totalling Rs 2.2 trillion.

In Maharashtra, the increase was even more pronounced, with March registrations climbing 11 per cent YoY and 30 per cent month-on-month (MoM) to 185,071 units.

A rise in the average ticket size, up 29 per cent YoY to Rs 17.1 million, also reflected a shift in buyer behaviour, with higher-priced units dominating the market. Notably, properties priced above Rs 20 million saw a 19 per cent share in registrations, up from 16 per cent a year ago.

Suburbs in central and western Mumbai dominated sales, accounting for 78 per cent of the total registrations, with central suburbs seeing an increase in their market share. The market's buoyancy was further driven by a robust launch pipeline and a cut in mortgage rates, indicating a healthy outlook for the city's housing sector.

Organised developers, including major players like Lodha, Oberoi, Godrej Properties, Sunteck, and Rustomjee, are expected to benefit from this trend, the report added.

Reader Comments

R
Rahul P.
Not surprised by this surge at all! Everyone was rushing to beat the reckoner rate hike. Smart move by buyers who acted in time. The 42% value increase is staggering though! 💰
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Priya K.
As someone who bought a 750 sqft flat in Andheri last month, I can confirm the rush was real! The registration office was packed every single day. Hope this doesn't lead to a slump in April sales though.
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Amit S.
While the numbers look impressive, I wonder how sustainable this is. The article mentions higher-priced units dominating - does this mean affordable housing is getting sidelined again? The 38% drop in sub-500 sqft registrations is concerning.
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Sanjana M.
Central and western suburbs killing it with 78% share! 🎉 Makes sense though - better infrastructure and more options. We just bought in Goregaon and couldn't be happier with our decision.
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Vikram D.
The Rs 2.2 trillion figure for FY25 is mind-blowing! Mumbai's real estate market continues to defy expectations. Though I wish there was more transparency in how reckoner rates are calculated - the annual hikes feel arbitrary sometimes.
N
Neha T.
Interesting to see the shift towards larger units. Maybe people are prioritizing space more post-pandemic? The average ticket size of Rs 17.1 million shows Mumbai's market is definitely premium now.

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

Tags:
Mumbai Real Estate Property Registration Nuvama Report Housing Market Maharashtra Property
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