Mumbai’s Real Estate Market Hits 13-Year High with 1,41,202 Property Registrations in 2024
Mumbai, 2nd January 2025: In 2024, Mumbai’s property registration numbers surged by 11%, reaching 1,41,202 units, marking the highest level in 13 years, driven by strong housing demand, as reported by Knight Frank India.
The Brihanmumbai Municipal Corporation (BMC) area recorded 12,418 property registrations in December alone, generating ₹1,134 crore in state revenue. Residential properties made up 80% of the total registrations in December.
In December 2023, 12,285 properties were registered. For the full year, the total registrations stood at 1,41,202, with an estimated revenue of ₹12,141 crore, both figures representing a 13-year peak.
Knight Frank India noted that property registrations in 2024 grew by 11% compared to the previous year, contributing to the fastest revenue growth in a decade, at 12%. Shishir Baijal, Chairman and Managing Director of Knight Frank India, highlighted that this trend reflects evolving homebuyer preferences for quality and value and reinforces Mumbai’s real estate market as a significant economic driver and long-term investment opportunity.
Akhil Saraf, Founder and CEO of proptech company Reloy, noted strong demand across all residential property segments. He emphasized that reputed developers with projects in prime locations and equipped with modern amenities continue to attract significant interest. This trend is expected to continue, especially with ongoing infrastructure development in the Mumbai Metropolitan Region (MMR), which is opening up new areas for residential projects.
