In 2021, 111,000 property registrations, which is 70% more than in 2020

Total property sale registrations in Mumbai city under the Brihanmumbai Municipal Corporation (BMC) were 111,552 in 2021, according to Knight Frank India, the leading real estate consultant. Total registrations in 2021 were 70% more year over year (YoY) than in 2020 and 45% higher than the year preceding the pandemic in 2019. In December 2021, the market recorded 9,320 units, up 23% from the previous month (MoM). Registrations were down 52 percent year over year compared to the same period last year when the lowest stamp duty rate window was two percent. In December 2021, the strong sales momentum that has persisted in the absence of any government incentives is projected to continue.

Shishir Baijal, Chairman & Managing Director, Knight Frank India, observed, "The sales momentum in Mumbai continues to sustain its speed deep into the last day of the year." The city's sales trajectory, which started with a sop-fuelled increase, has now stabilised, if not matured. With the exception of December 2020, when a stamp duty refund boosted property sales and registrations, December 2021 witnessed the largest number of registrations in the previous ten years."

"Despite being India's most expensive market for home ownership, variables such as reduced capital prices and decadal low home loan interest rates have made Mumbai cheaper than in prior years, making buying circumstances favourable for end-users," Shishir continued. With the exception of any disruptions caused by the new COVID – 19 variations, we expect this trend to continue in the new year."

Meanwhile, the Western suburbs accounted for 53% of all house sales in the city. The Central Suburbs came in second with a sales contribution of 31% in 2021. Furthermore, according to the research, the up to 500 Sq. Ft category accounted for 42% of total registrations in 2021, closely followed by 500-1000 Sq. Ft, which accounted for 41%. Similarly, the 1,000–2,000 square foot group accounted for 13% of all dwelling purchases.

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