Mumbai recorded 12,622 property registrations in September 2026, the highest volume for the month in more than 14 years, according to a report by Knight Frank India. Registrations increased 5 per cent from the corresponding month in 2025, despite a decline in stamp duty collections by the Maharashtra Government.

Stamp duty revenue stood at Rs. 12.27 bn during September, down 5 per cent from Rs. 12.92 bn a year earlier. The report attributed the decline primarily to a change in the transaction mix. On a month-on-month basis, registrations rose 0.3 per cent from 12,580 units in August, while revenue increased 8 per cent from Rs. 11.31 bn.

Festive activity contributed significantly to the monthly performance. During the Ganesh Chaturthi period from September 14 to September 25, Mumbai recorded 5,379 property registrations, 22 per cent higher than the 4,392 registrations recorded during the corresponding period in 2025. The figure was also the highest for the festive window in the past four years, exceeding 3,405 registrations in 2024 and 3,782 in 2023.

Stamp duty receipts during the festive period reached Rs. 6.4 bn, accounting for more than half of September’s total revenue. Collections grew 32 per cent year-on-year from Rs. 4.85 bn during Ganesh Chaturthi in 2025.

Knight Frank India Chairman and Managing Director Shishir Baijal said the residential market had maintained its demand momentum, with September producing the strongest registration performance in more than 14 years. He attributed the result partly to increased festive activity and said buyers continued to participate while remaining selective. The report’s long-term data showed registrations rising from 4,116 units in September 2013 to 10,694 in September 2023, 12,070 in September 2025 and 12,622 in September 2026.