MUMBAI, FEB 9, 2026 – Mumbai’s property market has kicked off the year by shattering revenue records, even as the total number of home sales saw a slight seasonal dip. According to the latest data from the state’s registration department, January 2026 marked the highest-ever stamp duty collection for the month, signaling a powerful shift toward high-value luxury properties.
Revenue surges despite fewer deals
The city recorded 11,219 property registrations in January. While this represents an 8% decline compared to the same period last year, the state exchequer collected over ₹1,012 crore in revenue. This 2% year-on-year increase in tax collection, despite fewer actual sales, highlights that the average price of homes being bought in Mumbai has risen significantly.
Market experts suggest that the dip in volume is a typical “January cooling” following the high-intensity sales usually seen in December. However, the record-breaking revenue proves that the demand for premium housing remains unaffected by broader economic fluctuations.
Luxury becomes the new standard
The data reveals a clear “upgrading” trend among Mumbaikars.
- Luxury Growth: Homes priced above ₹5 crore now account for 7% of the market.
- The Sweet Spot: The mid-to-premium segment (priced between ₹1 crore and ₹2 crore) grew to 33% of total sales.
- Affordability Crunch: Conversely, the share of homes priced below ₹1 crore has shrunk, as rising costs and interest rates impact budget-conscious buyers.
Suburban dominance and connectivity
Mumbai’s suburbs continue to be the engine of the real estate sector. The Western and Central Suburbs together accounted for a staggering 87% of all registrations. Buyers are increasingly flocking to “metro-linked” neighborhoods, where new infrastructure projects have made commuting easier.
“Buyers today are prioritizing quality of life over just the lowest price”, said one industry analyst”. We are seeing a move toward larger apartments, better amenities, and locations that offer a shorter commute to work”.
Looking ahead
While the number of transactions has moderated, the “quality” of the market appears structurally stronger. With a focus on premium homes and steady end-user demand, the Mumbai property market remains the most resilient and lucrative in the country.
Also read – Standard chartered bank sells premium BKC office space for ₹197 crore
Disclaimer – This article is for informational purposes only and does not constitute financial or legal advice. Readers should conduct independent research and consult professionals before making any real estate investment decisions.
Source – ET Realty
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