Mumbai real estate: Property registrations fall 25% YoY during Navratri 2026, lowest in last 3 years
Average registrations per working day stood at 669 in 2026, down from 693 in 2025, a decline of around 3.5%. However, the daily average remained above the 650 units recorded in 2024
- Oct 24, 2026,
- Updated Oct 24, 2026 2:25 AM IST
Mumbai recorded 4,680 property registrations during Navratri 2026, down 25% from 6,238 transactions in the corresponding festive period last year, according to a report by Knight Frank India. Property registration revenue also declined 15% year-on-year (YoY) to Rs 499 crore, compared with Rs 587 crore in Navratri 2025.
The data covers Mumbai city within the Brihanmumbai Municipal Corporation (BMC) limits. Registrations took place between October 11 and October 19, 2026, compared with September 22 to October 1 in 2025. The decline follows a strong performance last year, when festive-period registrations increased 20% year-on-year to a record 6,238 units among the three years covered by the report.
Mumbai property registrations: Three-year comparison
| Navratri period | Registrations | Annual change | Revenue |
|---|---|---|---|
| 2024 | 5,199 | +13% | Rs 502 crore |
| 2025 | 6,238 | +20% | Rs 587 crore |
| 2026 | 4,680 | -25% | Rs 499 crore |
Source: Knight Frank India, Maharashtra Department of Registration and Stamps.
The figures show that registrations in Navratri 2026 were 519 units, or approximately 10%, below the 2024 level. Compared with 2025, the city recorded 1,558 fewer registrations. Revenue declined by Rs 88 crore from last year's festive-period total, while collections in 2026 were marginally lower than the Rs 502 crore recorded in 2024.
Daily registrations offer a clearer picture
The decline in total registrations needs to be viewed alongside differences in the duration of the festive periods. Navratri 2026 lasted nine calendar days and included two Sundays, leaving seven registration days. In contrast, Navratri 2025 lasted 10 days and included one Sunday, resulting in nine registration days.
Average registrations per working day stood at 669 in 2026, down from 693 in 2025, a decline of around 3.5%. However, the daily average remained above the 650 units recorded in 2024. This suggests that daily transaction activity moderated but did not fall below the level seen two years earlier.
Revenue collections followed a similar trend. Average daily collections fell to Rs 55 crore in 2026 from Rs 59 crore in 2025 and Rs 56 crore in 2024. The figures indicate that both transaction volumes and daily revenue collections softened during this year's festive period.
Revenue falls less sharply than registrations
The 15% decline in revenue was less pronounced than the 25% fall in registrations. Knight Frank India said this could reflect differences in the value mix of transactions, although the figures alone do not establish whether higher-value homes accounted for a larger share of purchases.
Shishir Baijal, chairman and managing director of Knight Frank India, said registrations had moderated against last year's high base. He added that registrations per working day remained above 2024 levels, while revenue declined less sharply than transaction volumes.
According to Baijal, the next phase of Mumbai's housing market will depend on how demand evolves across price segments and how effectively housing supply aligns with buyer preferences.
Mumbai recorded 4,680 property registrations during Navratri 2026, down 25% from 6,238 transactions in the corresponding festive period last year, according to a report by Knight Frank India. Property registration revenue also declined 15% year-on-year (YoY) to Rs 499 crore, compared with Rs 587 crore in Navratri 2025.
The data covers Mumbai city within the Brihanmumbai Municipal Corporation (BMC) limits. Registrations took place between October 11 and October 19, 2026, compared with September 22 to October 1 in 2025. The decline follows a strong performance last year, when festive-period registrations increased 20% year-on-year to a record 6,238 units among the three years covered by the report.
Mumbai property registrations: Three-year comparison
| Navratri period | Registrations | Annual change | Revenue |
|---|---|---|---|
| 2024 | 5,199 | +13% | Rs 502 crore |
| 2025 | 6,238 | +20% | Rs 587 crore |
| 2026 | 4,680 | -25% | Rs 499 crore |
Source: Knight Frank India, Maharashtra Department of Registration and Stamps.
The figures show that registrations in Navratri 2026 were 519 units, or approximately 10%, below the 2024 level. Compared with 2025, the city recorded 1,558 fewer registrations. Revenue declined by Rs 88 crore from last year's festive-period total, while collections in 2026 were marginally lower than the Rs 502 crore recorded in 2024.
Daily registrations offer a clearer picture
The decline in total registrations needs to be viewed alongside differences in the duration of the festive periods. Navratri 2026 lasted nine calendar days and included two Sundays, leaving seven registration days. In contrast, Navratri 2025 lasted 10 days and included one Sunday, resulting in nine registration days.
Average registrations per working day stood at 669 in 2026, down from 693 in 2025, a decline of around 3.5%. However, the daily average remained above the 650 units recorded in 2024. This suggests that daily transaction activity moderated but did not fall below the level seen two years earlier.
Revenue collections followed a similar trend. Average daily collections fell to Rs 55 crore in 2026 from Rs 59 crore in 2025 and Rs 56 crore in 2024. The figures indicate that both transaction volumes and daily revenue collections softened during this year's festive period.
Revenue falls less sharply than registrations
The 15% decline in revenue was less pronounced than the 25% fall in registrations. Knight Frank India said this could reflect differences in the value mix of transactions, although the figures alone do not establish whether higher-value homes accounted for a larger share of purchases.
Shishir Baijal, chairman and managing director of Knight Frank India, said registrations had moderated against last year's high base. He added that registrations per working day remained above 2024 levels, while revenue declined less sharply than transaction volumes.
According to Baijal, the next phase of Mumbai's housing market will depend on how demand evolves across price segments and how effectively housing supply aligns with buyer preferences.