Mumbai recorded stamp duty collections of over ₹1,012 crore in January 2026, the highest for the month in 14 years, despite an 8 per cent year-on-year decline in property registrations to 11,219 units, according to Knight Frank India.
The 2 per cent growth in stamp duty revenue reflects a shift toward higher-value transactions, with homes priced above ₹5 crore accounting for 7 per cent of total registrations, up from 6 per cent in January 2025. Properties in the ₹1-2 crore bracket also saw increased share, rising from 30 per cent to 33 per cent year-on-year.
Residential properties dominated the market, comprising nearly 80 per cent of registrations. Western and Central Suburbs together accounted for 87 per cent of total activity, with the Western Suburbs leading at 57 per cent. Compact units up to 1,000 square feet continued to dominate, representing 83 per cent of all registrations.
Month-on-month, registrations fell 22 per cent and revenue dropped 19 per cent from December 2025, attributed to typical seasonal moderation in January following strong December activity.
Shishir Baijal, Chairman of Knight Frank India, attributed the performance to sustained end-user confidence supported by stable economic conditions and infrastructure development. The data highlights growing demand in the premium segment despite affordability pressures in the sub-₹1 crore category.
Comments Published on February 8, 2026
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