Property registrations in Mumbai in February at 11,932 units was down both on year as well as on month, the Maharashtra government data showed, with the month having fewer days.
In January, this year the city had registered 12,249 units and in February last year 12,055 units. Of the total property registrations over 80 per cent was accounted for by residences.
“Despite the moderation, the city recorded its second-best performance for the month of February on record in terms of property registration indicating a phase of stabilisation,” said property consultant Knight Frank.
“Notably, registrations have consistently remained above 10,000, significantly higher than pre-pandemic levels. This sustained activity reflects a healthy market, driven by positive homebuyer sentiment, steady economic conditions, and ongoing large-scale infrastructure development,” it added.
The State government earned ₹925.7 crore as stamp duty, slightly lower than the ₹994.5 crore earned in January, though higher than the ₹885 crore earned year ago.
The daily property registrations at 412 during the month under review saw a month-on-month rise of 4 per cent.
The propensity to buy higher priced houses was reflected in the data, that showed a 15 per cent rise in registrations of properties of ₹5 crore and above. Demand for those in the mid-segment, accounting for 56 per cent of the total, remained stable.
Sales of properties priced below ₹50 lakh saw a fall, highlighting the problems faced by buyers in the low-income segments.