Mumbai’s property market recorded its strongest September in more than 14 years, according to Maharashtra Department of Registrations and Stamps data analysed by real estate consultancy Knight Frank India.
The city registered an estimated 12,622 properties in September 2026, compared with 12,070 during the same month last year. The figures cover areas under the Brihanmumbai Municipal Corporation (BMC) and were projected using the daily registration run rate at the time of reporting.
Ganesh Chaturthi Boosts Property Registrations
The festive season contributed significantly to September’s performance.
Between September 14 and 25, Mumbai recorded 5,379 property registrations during the Ganesh Chaturthi period, a 22% increase over the corresponding period in 2025.
This was the highest registration activity recorded during the festival period in four years, according to Knight Frank India.
Stamp duty collections during these 12 days reached ₹640 crore, an increase of 32% year-on-year and more than half of the month’s total collections.
Why Did Stamp Duty Revenue Decline?
Despite higher registration volumes, Mumbai’s stamp duty collections fell approximately 5% year-on-year to ₹1,227 crore in September 2026, compared with ₹1,292 crore a year earlier.
Knight Frank attributed the decline primarily to changes in the mix of property transactions.
This indicates that an increase in the number of registrations does not necessarily translate into a corresponding increase in transaction values or government revenue.
September registrations were also marginally higher than August 2026’s reported 12,580 transactions, representing approximately 0.3% month-on-month growth.
What Does This Mean for Mumbai Homebuyers?
The registration figures indicate continued property transaction activity in Mumbai, particularly during the festive period.
However, strong registration numbers do not automatically mean property prices are rising across every neighbourhood.
Market conditions can vary depending on location, property type, available inventory and buyer budgets.
For prospective homebuyers, factors such as project approvals, connectivity, developer track record and overall affordability remain important when evaluating a purchase.
The takeaway: Mumbai’s September 2026 registration performance highlights sustained transaction activity in the city. However, the decline in stamp duty revenue shows why both transaction volumes and values matter when assessing the property market.
Sources
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Knight Frank India analysis of Maharashtra Department of Registrations and Stamps data, September 2026.
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Business Standard, September 30, 2026.
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Hindustan Times, October 2, 2026.
Data note: September figures were reported as projections based on the daily registration run rate. The figures refer to BMC jurisdiction, not the entire Mumbai Metropolitan Region.
