Mumbai Home Registrations Dip In May, But Property Values Climb: Report

Despite the slowdown in registration volumes, the total value of properties registered in May showed resilience. The report stated that the overall registration value rose 3 per cent YoY

Geographically, central and western suburbs contributed 87 per cent of total registrations in May

Source : ABPLIVE AI

Mumbai’s residential property market saw a dip in registrations during May 2025, according to a recent report from Nuvama Research. The city recorded 11,565 housing unit registrations, marking a 4 per cent year-on-year (YoY) decline and a 12 per cent drop month-on-month (MoM).

Despite the slowdown in registration volumes, the total value of properties registered in May showed resilience. The report stated that the overall registration value rose 3 per cent YoY to Rs 177 billion, although it recorded a 5 per cent decline from April 2025.

First Five Months Show Stronger Momentum

Zooming out to a broader timeframe, Mumbai’s housing market has displayed strength in 2025. Between January and May, 61,461 units were registered, a 6 per cent increase compared to the same period last year. In value terms, this translates to Rs 949 billion, 17 per cent higher YoY. The average ticket size also increased by 11 per cent YoY, reaching Rs 14.7 million, indicating rising demand for higher-value homes.

Compact Homes Lead, Premium Demand Rises

The report stressed that 80 per cent of registrations in Mumbai were for residential units, with compact homes under 1,000 sq ft continuing to dominate. Of these, 44 per cent of registrations were for homes between 500 and 1,000 sq ft, reinforcing the preference for mid-sized apartments.

Larger homes also gained modest traction. Properties over 1,000 sq ft constituted 17 per cent of total registrations in May 2025, up from 15 per cent in the same month last year, while remaining flat on a monthly basis.

Suburban Demand Strong, Premium Locations Catch Up

Geographically, central and western suburbs contributed 87 per cent of total registrations in May. However, the report noted a 1 per cent YoY increase in the share of registrations from central and south Mumbai, suggesting a growing appetite for premium housing, likely driven by new project launches and infrastructure growth.

Statewide Picture Shows Mixed Trends

Across Maharashtra, property registrations reached 148,080 units in May, reflecting a 2 per cent decline YoY, but a 2 per cent increase over April 2025.

Positive Outlook Backed by Launch Pipeline, Rate Expectations

Looking ahead, Nuvama Research expressed cautious optimism. “A robust launch trajectory and mortgage rate cut are likely to improve sales in Mumbai going ahead,” the report noted.

As of now, year-to-date registrations for 2025 stand at 64,461 units, a 6 per cent increase YoY, signaling sustained momentum that could be further bolstered by favorable lending conditions and new project supply.